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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
| Calendar | Elliott Wave Trades | Markets Volatility | Pivot Points | Heat Map | Daily Fundamentals |
| Action Insight Market Overview | Markets Snapshot |
Daily Report: Dollar Rally Continues as the Week StartsDollar extends recent rally in Asian session in response to last week's balanced comments from Fed chair Yellen. Even though some analysts noted that Yellen's speech was still dovish overall, her messages were inline with the FOMC minutes released earlier last week that Fed is on track to raise interest rates next year. On the other hand, that was a sharp contrast to ECB president Draghi's message that ECB was ready for further actions as inflation expectations slide. Technically, EUR/USD breaches 1.32 handle today as recent rally extends and is heading back to 1.3 psychological level. USD/CHF also took out an important resistance level at 0.9156 which carries medium term bullish implications. USD/JPY broke and important resistance at 104.24 remains cautiously bullish for a test of 105.41 high. Nonetheless, the greenback is stuck in range against commodity currencies. |
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| Featured Technical Report | |
USD/CHF Daily OutlookDaily Pivots: (S1) 0.9108; (P) 0.9131; (R1) 0.9158; More.... USD/CHF's rally continues today and reaches as high as 0.9178 so far. The break of 0.9156 carries larger bullish implications and focus is on whether the pair can sustain above this level. At this point, intraday bias remains on the upside for 100% projection of 0.8702 to 0.9036 and 0.8855 at 0.9189. Break will target 161.8% projection at 0.9395. On the downside, below 0.9103 minor support will turn bias neutral and bring consolidations first. |
| Economic Indicators Update |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency traded narrowly after recovering from intra-day low of 1.3242, offers are still noted at 1.3280, 1.3300-10 (stops above) and 1.3325-30, more sell orders are tipped at 1.3350 and 1.3370, selling interest should emerge further out at 1.3385 and 1.3400-10. On the downside, some bids are seen at 1.3240-50, 1.3215-25 and 1.3200 with stops placed below barrier at figure, more buy orders are located at 1.3180 and 1.3150. | |||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||
Trade Idea: USD/CAD - Buy at 1.0900Despite intra-day rise to 1.0987, lack of follow through buying on break of previous resistance at 1.0986 and current retreat suggest consolidation would be seen and pullback towards 1.0900-10 cannot be ruled out, however, support at 1.0860 should remain intact and bring another rise later, a firm break above said resistance would extend recent rise from 1.0621 low (tentatively wave c trough) for at least a correction of early decline to 1.1000. Trade Idea Wrap-up: GBP/USD - Sell at 1.6650Cable's recovery after intra-day fall to 1.6564 suggests minor consolidation above this level would be seen and corrective bounce to the Kijun-Sen (now at 1.6609) is likely, however, reckon upside would be limited to 1.6650 and bring another decline later, a break of said support would exxtend recent decline from 1.7192 top to 1.6540-50, however, loss of downward momentum should prevent sharp fall below 1.6500-10 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||
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Fundamental Highlights
Technical Highlights
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