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Daily Report: Ukraine Tensions Hit Risk Markets, Dollar Mixed in Tight RangeRisk markets were mildly hit by deterioration in Ukraine's situation. S&P 500 closed below 2000 handle by dropping -3.38 pts to 1996.74 while DJIA closed -42.44 pts down at 17079.57. Asian equities are also generally lower with Nikkei down -0.3% at the moment while HK HSI is down -0.25% at the time of writing. The currency markets are rather steady though. Dollar continues to stay in tight range against European majors and yen and maintain bullish outlook. Meanwhile, the greenback is staying mildly bearish against commodity currencies. |
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| Featured Technical Report | |
EUR/CHF Daily OutlookDaily Pivots: (S1) 1.2050; (P) 1.2060; (R1) 1.2073; More... EUR/CHF reaches as low as 1.2048 so far as recent decline continues. Deeper fall could still be seen. But again, we'd continue to expect strong support above 1.20 to contain downside and bring strong rebound. Above 1.2115 will confirm short term bottoming and turn bias back to the upside for 1.2177 resistance. |
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US Session: Orders and Options WatchEUR: The single currency slipped as the greenback recovered across the board on news that Russian troops entering in Ukraine, the release of better-than-expected US GDP data also helped supporting dollar, bids at 1.3185 were filled but defensive buy orders are still noted above barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are lined up from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there, selling interest is expected at 1.3350 and 1.3370. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea: EUR/GBP - Buy at 0.7925As the single currency has remained under pressure, suggesting near term downside risk remains for the fall from 0.8036 to extend marginal weakness, however, reckon previous support at 0.7916-22 would limit downside and bring recovery later, above 0.8000 would bring a stronger rebound to Friday's high of 0.8016, break there would bring retest of 0.8036 resistance Trade Idea Wrap-up: USD/JPY - Buy at 103.20Although near term downside risk remains for the retreat from this week's high of 104.28 to bring retracement of recent rise to support at 103.50, reckon renewed buying interest would emerge around 103.20-25, price should stay well above previous resistance at 103.09 and bring another rise later, above said resistance would extend one more rise to 104.40-45 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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