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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: Stocks Surged ahead of FOMC Meeting, Yen SoftUS equities extended recent strong rebound and ended sharply high overnight. Sentiments were lifted by strong consumer confidence data as well as expectation that FOMC would stay on the dovish side after ending QE. DJIA rose 187.81 pts, or 1.12% to close at 17005.75, reclaiming 17000 level. S&P 500 also rose 23.42 pts, or 1.19% to close at 1985.05. Both are relatively close to record highs of 17350.64 and 2019.26 respectively. In the currency markets, Yen remains the weakest currency this week as weighed down by risk appetite. Meanwhile, commodity currencies record broad based gain with Kiwi and Aussie being the stronger ones. |
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| Featured Technical Report | |
GBP/JPY Daily OutlookDaily Pivots: (S1) 173.34; (P) 173.80; (R1) 174.24; More..... The recovery from 168.01 extended higher and could continue. But again, near term outlook stays cautiously bearish as long as 175.00 resistance holds and we'd expect further fall ahead. Prior break of 169.34 support was taken as an indication of medium term topping at 180.70. Below 171.06 minor support will turn bias back to the downside for 168.01 first. Break will target 163.87 support next. Nonetheless, break of 175.00 will dampen this bearish view and target a test on 180.70 high instead. |
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Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency jumped in part due to the release of soft US durable goods order report, offers at 1.2725-30 and 1.2750 were tripped, however, more selling interest is expected at 1.2770 and 1.2785-90, mixture of offers and stops remains at 1.2800. On the downside, bids are raised to 1.2720, 1.2685-90 and 1.2655-65 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 0.7820As the single currency has remained weak after falling from 0.8047, suggesting near term downside risk remains for weakness towards 0.7820-25, however, 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 slipped again today in part due to soft US data, retaining our view that further consolidation below recent high of 1.1366 would be seen and near term downside risk remains for retracement of recent rise to 1.1140-50, 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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