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| 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 |
Daily Report: Dollar Rebound Lost Momentum, UK GDP AwaitedUS equities extended this week's rebound with a strong close overnight as boosted by positive earnings reports. DJIA closed up 216.58 pts, or 1.32%, at 16677.9 while S&P 500 closed up 23.71 pts, or 1.23%, at 1950.82. Also, it should noted that treasury yield also rose yesterday with 30 year yield closed above 3% level at 3.046%. That compared to last week's spike low of 2.677%. In the currency markets, despite rebounding, dollar lost momentum ahead of minor resistance level against European majors. The greenback is also stuck in tight range against Canadian dollar and Australia dollar. The more notable moves were found in yen crosses, which followed stocks higher. |
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| Featured Technical Report | |
GBP/USD Daily OutlookDaily Pivots: (S1) 1.5995; (P) 1.6027; (R1) 1.6060; More... GBP/USD is still staying in range above 1.5876 and intraday bias remains neutral. Consolidation from there could extend. But in any case, as long as 1.6226 resistance holds, further fall is still expected. Below 1.5876 will extend the decline from 1.7190 to 61.8% retracement of 1.4813 to 1.7190 at 1.5721 next. Break will target 100% projections of 1.7190 to 1.6051 from 1.6523 at 1.5384. However, break of 1.6226 will bring stronger rebound back towards 1.6523 resistance instead. |
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Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: Despite intra-day recovery, sell orders are still noted at 1.2680-85, 1.2700 and 1.2725-30, more selling interest is expected at 1.2740-50, 1.2770 and 1.2785-90, mixture of offers and stops is located at 1.2800. On the downside, bids are now seen at 1.2620-30 and 1.2600-10, more buy orders are tipped at 1.2565 and 1.2550. | |||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Sell at 0.7970Although euro recovered after intra-day marginal fall to 0.7871 and consolidation with mild upside bias is seen for recovery to 0.7940-50, as top has been formed at 0.8047 last week, reckon 0.7980-85 would limit upside and bring another decline later, we are keeping our view that the a leg of the correction from 0.7766 low has ended at 0.8047 and mild downside bias is seen for retracement of the rise from 0.7766 in wave b, hence weakness towards support at 0.7850 is likely Trade Idea: USD/CAD - Buy at 1.1100As the greenback continued to meet resistance around 1.1296, retaining our view that further consolidation below resistance at 1.1366 (last week's high) would be seen and pullback to 1.1180 and then 1.1140-50 cannot be ruled out, however, price should stay above previous support at 1.1082 and bring another rise later, above 1.1300 would bring retest of said resistance at 1.1366, break there would extend recent rise from 1.0660 low to 1.1440-50 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
Technical Highlights
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