Thursday, October 16, 2014

Action Insight Daily Report 10-17-14

ActionForex.com
Action Insight Market Overview Markets Snapshot

Daily Report: Sentiments Further Stabilized as Fed Bullard Called for Delay in Ending QE

Market sentiments were further stabilized by comments from Fed official overnight. DJIA dipped to 15935.22 but pared back much loss to close at 16117.24, just down -24.5 pts or -0.15%. S&P 500 dipped to 1835.02 but ended up 0.27 pts or 0.01%. Crude oil also staged a recovery and is back above 83 level after breaching 80 earlier in the week. In the currency markets, yen retreated against other major currencies as risk aversion eased. Meanwhile, dollar is extending near term consolidations against European majors and Aussie. Canadian dollar also regained some ground following crude oil.

Full Report Here...


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Featured Technical Report

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.1201; (P) 1.1281; (R1) 1.1335; More...

USD/CAD's consolidation from 1.1385 is still in progress and intraday bias remains neutral. Near term outlook remains bullish with 1.1081 support intact and further rise is expected. Above 1.1385 will target 200% projection of 1.0620 to 1.0985 from 1.0810 at 1.1540. However, break of 1.1081 will bring lengthier correction before staging another rally.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
12:30 CAD CPI M/M Sep 0.00% 0.00%
12:30 CAD CPI Y/Y Sep 2.00% 2.10%
12:30 CAD BoC CPI Core M/M Sep 0.10% 0.50%
12:30 CAD BoC CPI Core Y/Y Sep 2.00% 2.10%
12:30 USD Housing Starts Sep 1.02M 0.96M
12:30 USD Building Permits Sep 1.04M 1.00M
13:55 USD U. of Michigan Confidence Oct P 84 84.6
 
Forex Trade Ideas

Remark: Due to holidays, next Trade Ideas update will be made on Monday 20 Oct 2014

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

Technical Highlights

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