 |  |
| 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: Sterling Weakness Continues on Scotland UncertaintiesSterling weakness is the main theme in an otherwise quiet start of the week. GBP/USD gapped lower and dived to as low as 1.6102 and stays soft in early US session. GBP/JPY breached the key medium term support level of 169.53 but before recovering. A focus will be on whether GBP/JPY would sustain below this level to confirm larger bearishness. The pound also extended recent down trend against commodity currencies including Australian and Canadian dollar. While the pound also weakened against Euro, EUR/GBP is being held by 0.8035 near term resistance for the time being. |
 |
| Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.6293; (P) 1.6316; (R1) 1.6353; More... GBP/USD reaches as low as 1.6102 so far today and stays weak. Intraday bias remains on the downside as the current fall from 1.7190 should now extend to 50% retracement of 1.4813 to 1.7190 at 1.6002. Break will target 61.8% retracement at 1.5721. On the upside, above 1.6283 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited by 1.6534/6643 resistance zone and bring fall resumption. |
| Economic Indicators Update |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchGBP: The British pound slipped again in European session and bids at 1.6125-35 and 1.6110 were filled, however, buy orders are reported at 1.6100 and 1.6075-85, more buying interest is expected at 1.6060 and further out at 1.6025-35, mixture of bids and stops is located at 1.6000. On the upside, offers are lowered to 1.6180, 1.6200-10 and 1.6225-30, more sell orders are tipped at 1.6250, 1.6275-85 and 1.6325-35, selling interest should emerge around 1.6350, 1.6375-85 and 1.6400-10. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: GBP/USD - Sell at 1.6285The British pound opened lower today and dropped again, suggesting recent decline is still in progress and may extend further weakness to 1.6100, then towards 1.6065 (1.5 times projection of 1.6466-1.6283 measuring from 1.6340), however, loss of near term downward momentum should prevent sharp fall below 1.6040-45 (1.618 times projection), risk from there is seen for a corrective rebound to take place later today or tomorrow. Trade Idea Update: EUR/USD - Sell at 1.3015As the single currency has remained under pressure, suggesting bearishness remains for recent decline to extend further weakness, break of last week's low at 1.2920 would extend further fall to 1.2905-10 (1.618 times projection of 1.3993-1.3503 measuring from 1.3700), however, loss of near term downward momentum should prevent sharp fall below 1.2875-80 and reckon 1.2850 would hold from here. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
Technical Highlights
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
  |
| ||||||||
No comments:
Post a Comment