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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: Yen Surges with Falling Stocks and YieldsYen extends it's rally over night and is so far the strongest major currency this week. Risk aversion and steep fall in treasury yields were two factors that drove the yen higher. DOW failed to sustain above 17000 handle and dropped -272.52 pts, or -1.6% overnight to close at 16719.39. S&P 500 dropped -29.72 pts, or -1.51% to close at 1935.1. Development in SPX is worth a note. There was some strong resistance seen from 55 days EMA. The medium term channel is broken. There was bearish divergence condition in daily MACD. These three developments point to trend reversal in the index. Today's focus will be on last week's low of 1926.03, break there will put focus on key structural support level at 1904.78. |
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| Featured Technical Report | |
EUR/JPY Daily OutlookDaily Pivots: (S1) 136.35; (P) 137.05; (R1) 137.56; More... EUR/JPY's fall from 141.21 is still in progress and is targeting 135.81 support. As noted before, such decline is viewed as the fifth leg of the triangle pattern from 145.68. We'd expect strong support above 135.50 key level to bring reversal. On the upside, above 137.87 minor resistance will turn bias back to the upside for retesting 141.21 resistance. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency found renewed buying interest just above 1.2580 and has rebounded in NY morning, however, offers remain at 1.2670-85 area, selling interest is tipped further out at 1.2700-10 (stops above), sell orders are expected at 1.2715-25 and 1.2750. On the downside, bids remain at 1.2570-80 and 1.2540-45, buy orders are reported at 1.2525-30, 1.2500-10 and 1.2485, mixture of bids and stops is located at 1.2450, more buying interest is expected at 1.2420-25 and 1.2400. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea: EUR/GBP - Buy at 0.7805Euro's rebound after finding support at 0.7766 last week suggests further consolidation above this level would be seen and reckon 0.7800-05 would limit downside, bring another bounce to 0.7889 resistance, above there would suggest a temporary low is possibly formed, bring retracement of recent decline to 0.7915, break there would add credence to this view, bring a stronger rebound to 0.7950-55 later. Trade Idea: USD/CAD - Stopped profit and stand asideAs the retreat from last week's high of 1.1270 turned out to be stronger than expected, suggesting a temporary top has possibly been formed there and consolidation with mild downside bias is seen for test of 1.1112 support, however, break there is needed to add credence to this view, bring weakness to 1.1072. Once this support (last week's low) is penetrated, this would provide confirmation, bring a stronger correction to 1.1000-10 but downside should be limited to 1.0980-85 today. 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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