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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: Markets Steady as Consolidation ContinuedThe forex markets are generally steady as recent consolidations continued. ECB said that EUR 1.7b of covered bonds were bought last week as the new security purchase program began. Some analysts argued that it's just like a drop in the ocean comparing to the EUR 2T balance sheet. ECB vice president Vitor Constancio said earlier this month that there were around EUR 600b of covered bonds and EUR 400b of ABS eligible for EB purchase. Based on last week's size, there is no way the total size could get near to the EUR 600b mark. EUR/USD is struggling around 1.27 level for the moment and maintain the near term bearish outlook. |
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| Featured Technical Report | |
EUR/AUD Daily OutlookDaily Pivots: (S1) 1.4389; (P) 1.4419; (R1) 1.4455; More... With 1.4532 minor resistance intact, intraday bias in EUR/AUD remains cautiously on the downside. The rebound from 1.3792 might be finished already, on bearish divergence condition in 4 hours MACD. Break of 1.4313 will target a test on 1.3792 low. Above 1.4532 minor resistance will turn focus back to 1.4704 resistance. Break there will extend the rise from 1.3792 to 61.8% retracement of 1.5831 to 1.3792 at 1.5052 and above. |
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Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency rebounded again in US morning but sell orders are still seen at 1.2725-30 and 1.2750, more selling interest is expected at 1.2770 and 1.2785-90, mixture of offers and stops is located at 1.2800. On the downside, bids at 1.2670-75 were filled but buy orders are still noted at 1.2665, 1.2640-50 and 1.2625-30, more buying interest is tipped at 1.2600-10, 1.2565 and 1.2550. | |||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.7820Although the single currency has remained under pressure after retreating sharply from 0.8047 and near term downside risk remains for weakness towards 0.7820-25, if our view that low has been formed at 0.7766 as wave v trough is correct, downside should be limited to 0.7800 and bring another rebound later, above 0.7940-50 would suggest the retreat from 0.8047 has possibly ended and bring a stronger rebound to 0.8000. Trade Idea: USD/CAD - Buy at 1.1100The greenback has remained confined within familiar range and further consolidation below recent high of 1.1366 would be seen with initial downside risk for retracement of recent rise, hence weakness 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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