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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Market Overview | Markets Snapshot |
Daily Report: Risk Aversion Continues as Markets Await ECB and BoEMarket sentiments continued to be weighed down by situation regarding Ukraine. US equities closed nearly flat with DJIA up 13.87 pts, or 0.08%, at 16443.34 and S&P 500 up 0.03 pts, at 1920.24. Asian equities, however, are broadly lower extending the third day of decline. Yen extends the rally against other major currencies. In particular with USD/JPY breaching 102.03 minor support, indicating prospect of further up side. Australia dollar was additionally pressured by the unexpected fall in employment and the sharp jump in unemployment rate. Euro and Sterling recovered against the greenback ahead of ECB and BoE announcement. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.9305; (P) 0.9339; (R1) 0.9387; More... Despite recovery to 0.9374, AUD/USD quickly reversed and dropped through 0.9275 temporary low. The development indicates that correction from 0.9504 is resuming. Intraday bias is turned back to the downside. Deeper fall should be seen to 0.9211 support and below. At this point, we'd still expect strong support from 38.2% retracement of 0.8659 to 0.9504 at 0.9181 to contain downside and bring rebound. Near term outlook will stay mildly bearish as long as 0.9374 resistance holds. |
| Economic Indicators Update |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency slipped again in European session but once again recovered after finding buying interest just above 1.3330, more bids are reported at 1.3325 and at 1.3300-10 with stops building up below 1.3300. On the upside, offers are noted at 1.3375-80, 1.3395-00 and 1.3420-25, more sell orders are tipped at 1.3445-50 with stops placed above 1.3460 but selling interest is expected at 1.3470-80, followed by combination of offers and stops at 1.3490-10 area. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Hold long entered at 0.7945Euro's strong retreat from last week's high of 0.7985 suggests caution on our bullish view that a temporary low has been formed at 0.7874 last month and 0.7904 support needs to hold to retain prospect of another rebound, above last week's high at 0.7985 would add credence to our bullish scenario and bring correction to 0.8000, above there would signal wave v has possibly ended at 0.7874 and bring test of resistance at 0.8034 (previous 4th of a lesser degree) but 0.8050 is likely to hold Trade Idea: USD/CAD - Buy at 1.0850As the greenback has retreated after intra-day brief rise to 1.0986, suggesting minor top is formed and consolidation below this level would be seen and pullback to 1.0900-05 and possibly 1.0880 is likely, however, reckon 1.0850 would limit downside and bring another rise later. A break of said resistance at 1.0986 would extend recent upmove from 1.0621 low (tentatively wave c trough) for at least a retracement of recent decline towards 1.0990-00 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
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