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Mid-Day Report: Dollar Digesting Gains after Solid ADP Job DataDollar pares back some gain in early US session after release of employment data. The ADP employment report showed 213k growth in private sector jobs in September, above expectation of 204k. Nonetheless, traders are getting a bit cautious ahead of the more important events later in the week. That include ECB press conference tomorrow and US non-farm payroll report on Friday. At the time of writing, dollar index is hovering around 86 and maintain clear near term bullish outlook. The greenback is in intraday consolidation against Euro, Swiss Franc, Yen, Aussie and Loonie and there is no sign of topping yet. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 109.27; (P) 109.55; (R1) 109.93; More... USD/JPY retreats mildly after hitting mentioned 100% projection of 96.56 to 105.43 from 101.08 at 109.95. At this point, further rise is still expected as long as 108.47 support holds. Sustianed trading above 109.95 will extend recent up trend to long term fibonacci level at 111.62. On the downside, below 108.47 support will indicate short term topping and bring deeper pull back before staging another rise. |
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| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency recovered after holding above yesterday's low at 1.2571 but offers are still noted at 1.2640-50, 1.2665 and 1.2680-85, sizeable sell orders are reported at 1.2700-10, 1.2725-35 and 1.2750-60 (stops above 1.2765), selling interest is expected at 1.2785 and 1.2800. On the downside, bids are now seen at 1.2570-85 area and in good size at 1.2540-50 (more stops below), some buy orders are tipped at 1.2520-25, followed by mixture of bids and stops at 1.2500. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea Update: GBP/USD - Sell at 1.6285As cable has recovered after intra-day marginal fall to 1.6162, suggesting minor consolidation above this level would be seen and corrective bounce to the upper Kumo (now at 1.6249) cannot be ruled out, however, reckon resistance at 1.6287 would limit upside and bring another decline. A break of said support at 1.6162 would confirm early rebound from 1.6052 has ended at 1.6525, bring subsequent fall to 1.6125-30 and possibly towards 1.6100 Trade Idea Update: EUR/USD - Sell at 1.2700Euro's recovery after yesterday's selloff to 1.2571 suggests minor consolidation would be seen and corrective bounce to previous support at 1.2664 cannot be ruled out, however, reckon 1.2697-1.2702 (38.2% Fibonacci retracement of 1.2901-1.2571 and minor resistance) would limit upside and bring another decline later. A break of said support at 1.2571 would extend recent selloff to 1.2550, then 1.2515-20 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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