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Mid-Day Report: Euro Tumbles With Peripheral Bonds, Dollar RecoversDollar recovered some of this week's losses today and is trying to draw support from better than expected job data. Initial jobless claims dropped 23k to 264k in the week ended October 11 versus expectation of 285k. That's also the lowest level since April 2000. Continuing claims rose 7k to 2.39m in the week ended October 4. Elsewhere, risk aversion continues to dominate the markets. Major European indices are trading in read with FTSE losing -1.6%, DAX down -1.4% and CAC down -1.8% at the time of writing. US futures also point to another day of decline with DJIA probably losing 16000 handle again. Meanwhile, in the currency markets, yen remains the strongest currency this week on risk aversion. Canadian dollar is the weakest following the sharp fall in crude oil, which breaches 80 level today. |
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| Featured Technical Report | |
EUR/USD Mid-Day OutlookDaily Pivots: (S1) 1.2679; (P) 1.2782 (R1) 1.2941; More.... The correction from 1.2500 is still in progress and further rise cannot be ruled out. But at this point, we'd expect strong resistance from 1.2994 to bring fall resumption. Below 1.2624 minor support will turn bias back to the downside. Break of 1.2500 will extend the larger fall from 1.3993 for 1.2042 low next. Nonetheless, break of 1.2994 will bring lengthier consolidation above 1.2500 before staging another fall. |
| Economic Indicators Update | You're invited to London's most comprehensive educational event for investors and traders of the year; The World MoneyShow London, 7-8 November 2014! Located at the Queen Elizabeth II Conference Centre, you will discover top experts' best money-making and capital preservation strategies! Learn from the industry's top experts' like Mark Mobius, Ralph Acampora, Sandy Jadeja, and dozens more!
US and Canadian equity markets trading near all-time highs amid record-low volatility has many pointing to a sense of "complacency" in the markets, like it's possible that the "easy money" has already been made. That's why 40+ leading investing and trading experts will be speaking LIVE and in-person at The World MoneyShow Toronto, and will reveal their latest and best stock and ETF picks in the process. Register free Come learn powerful trade set-ups and strategies directly from Larry Williams, Tom Sosnoff, Tom DeMark, Dan Gramza, Larry McMillan, Al Brooks and dozens of other world-class traders, analyze the markets, enjoy LIVE trading demonstrations, receive personalized guidance, and acquire necessary tools and techniques at the year's best and final gathering for active traders, The Traders Expo Las Vegas, November 19-22 at Caesars Palace.
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Remark: Due to holidays, next Trade Ideas update will be made on Monday 20 Oct 2014 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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