Action Insight Mid-Day Report 8-29-14

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
Mid-Day Report: FX Markets Stay in Consolidation Mode The forex markets continue to stay in consolidative mode in early US session, without any stimulus for fresh moves. Yen reversed some of the risk aversion triggered gains ad is back under pressure against other major currencies. Meanwhile, dollar continues to be mixed in tight range. Released from US, personal income rose 0.2% in July while spending dropped -0.1%. Headline PCE was unchanged at 1.6% yoy while core PCE was also unchanged at 1.5% yoy. Released from Canada, GDP rose 0.3% mom in June, inline with consensus. IPPI dropped -0.3% mom in July while RMPI dropped -1.4% mom. Full Report Here...
Featured Technical Report
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9130; (P) 0.9145; (R1) 0.9165; More.... USD/CHF's consolidation from 0.9184 temporary top is still in progress and intraday bias remains neutral. Another fall could be seen but we'd expect downside of pull back to be contained above 0.9022 support and bring resumption. Break of 0.9184 should target 161.8% projection of 0.8702 to 0.9036 from 0.8855 at 0.9395 next. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update
GMT Ccy Events Actual Consensus Previous Revised 22:45 NZD Building Permits M/M Jul 0.10% 3.50% 23:05 GBP GfK Consumer Sentiments Aug 1 -1 -2 23:30 JPY Unemployment Rate Jul 3.80% 3.70% 3.70% 23:30 JPY Household Spending Y/Y Jul -5.90% -2.70% -3.00% 23:30 JPY National CPI Core Y/Y Jul 3.30% 3.30% 3.30% 23:30 JPY Tokyo CPI Core Y/Y Aug 2.70% 2.70% 2.80% 23:50 JPY Retail Trade Y/Y Jul 0.50% -0.10% -0.60% 23:50 JPY Industrial Production M/M (JUL P) 0.20% 1.40% -3.30% -3.40% 01:00 NZD NBNZ Business Confidence Aug 24.4 39.7 05:00 JPY Housing Starts Y/Y Jul -14.10% -10.50% -9.50% 07:00 CHF KOF Leading Indicator Aug 99.5 97.9 98.1 97.9 09:00 EUR Eurozone Unemployment Rate Jul 11.50% 11.50% 11.50% 09:00 EUR Eurozone CPI Estimate Y/Y Aug 0.30% 0.30% 0.40% 09:00 EUR Eurozone CPI - Core Y/Y Aug A 0.90% 0.80% 0.80% 12:30 CAD GDP M/M Jun 0.30% 0.30% 0.40% 0.50% 12:30 CAD Industrial Product Price M/M Jul -0.30% 0.20% -0.10% 0.10% 12:30 CAD Raw Materials Price Index M/M Jul -1.40% 0.70% 1.10% 12:30 USD Personal Income Jul 0.20% 0.30% 0.40% 0.50% 12:30 USD Personal Spending Jul -0.10% 0.20% 0.40% 12:30 USD PCE Deflator M/M Jul 0.10% 0.10% 0.20% 12:30 USD PCE Deflator Y/Y Jul 1.60% 1.60% 1.60% 12:30 USD PCE Core M/M Jul 0.10% 0.10% 0.10% 12:30 USD PCE Core Y/Y Jul 1.50% 1.50% 1.50% 13:45 USD Chicago PMI Aug 56.3 52.6 13:55 USD U. of Michigan Confidence Aug F 80.4 79.2
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency traded narrowly today, 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 remain at 1.3200 and 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. Read more...
Forex Trade Ideas
Trade Idea Update: GBP/USD - Hold long entered at 1.6600 As cable has retreated after faltering below yesterday's high of 1.6614, suggesting further consolidation would be seen but as long as 1.6567-70 holds, mild upside bias remains for recovery to 1.6620, above there would suggest a temporary low has possibly been formed at 1.6537 earlier this week, bring retracement of recent decline to 1.6650-55 and later towards resistance at 1.6679 Read more... Trade Idea Update: USD/JPY - Buy at 103.20 Dollar's consolidation after this week's initial rise to 104.28 is expected to continue and although near term downside risk remains for the retreat from said this week's high 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 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights US Personal Spending Unexpectedly Dipped 0.1% in July Canadian Real GDP Growth Exceeded Expectations in the Second Quarter Euro: Lower Headline Inflation, But Higher Core Inflation Japan: July Data Suggest the Economy is Only Recovering Slowly after Tax Hike More Downside Expected For EURUSD Technical Highlights GBPUSD - Vulnerable, Loses Upside Steam Daily Technical Analysis Foreign Exchange Market Commentary The Daily Wave Analysis

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