Action Insight Mid-Day Report 11-20-14

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
Mid-Day Report: Markets Shrugged Off Weak Eurozone PMIs and Solid UK Sales The forex markets generally lack directions except clear weakness in yen. Euro's reaction to worse than expected PMI data was mild. Sterling also shrugged off better than expected retail sales. Dollar is also staying in established range against Europeans and commodity currencies. Released from US, CPI was unchanged at 1.7% yoy in October versus consensus of 1.6% yoy. CPI core rose to 1.8% yoy as expected. Initial jobless claims dropped to 291k in the week ended November 15, higher than expectation of 286k. The four week moving average rose slightly by 2k to 287.5k. Continuing claims dropped 73k to 2.33m in the week ended November 89, lowest since December 2000. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 117.16; (P) 117.61; (R1) 118.42; More... USD/JPY retreats mildly after reaching as high as 118.97 earlier today. With 117.05 minor support intact, intraday bias remains on the upside for 161.8% projection of 101.08 to 110.08 from 105.19 at 119.75 next. We'll beware of topping around that level as it's also close to 120 psychological level and long term fibonacci level at 120.13. On the downside, below 117.05 minor support will indicate temporary topping and bring consolidations first. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

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GMT Ccy Events Actual Consensus Previous Revised 21:45 NZD PPI Inputs Q/Q Q3 -1.50% 0.30% -1.00% 21:45 NZD PPI Outputs Q/Q Q3 -1.10% 0.20% -0.50% 23:50 JPY Trade Balance (JPY) Oct -0.98T -1.02T -1.07T 01:45 CNY HSBC Manufacturing PMI Nov P 50 50.2 50.4 07:00 CHF Trade Balance (CHF) Oct 3.26B 2.57B 2.45B 2.49B 07:00 EUR German PPI M/M Oct -0.20% -0.20% 0.00% 07:00 EUR German PPI Y/Y Oct -1.00% -0.90% -1.00% 08:00 EUR France Manufacturing PMI Nov P 47.6 48.9 48.5 08:00 EUR France Services PMI Nov P 48.8 48.6 48.3 08:30 EUR Germany Manufacturing PMI Nov P 50 51.5 51.4 08:30 EUR Germany Services PMI Nov P 52.1 54.5 54.4 09:00 EUR Eurozone Manufacturing PMI Nov P 50.4 50.9 50.6 09:00 EUR Eurozone Services PMI Nov P 51.3 52.3 52.3 09:30 GBP Retail Sales M/M Oct 0.80% 0.40% -0.30% -0.40% 11:00 GBP CBI Trends Total Orders Nov 3 -3 -6 13:30 CAD Wholesale Sales M/M Sep 1.80% 0.70% 0.20% 13:30 USD CPI M/M Oct 0.00% -0.10% 0.10% 13:30 USD CPI Y/Y Oct 1.70% 1.60% 1.70% 13:30 USD CPI Core M/M Oct 0.20% 0.20% 0.10% 13:30 USD CPI Core Y/Y Oct 1.80% 1.80% 1.70% 13:30 USD Initial Jobless Claims (NOV 15) 291K 286K 290K 293K 15:00 USD Philly Fed Survey Nov 18.5 20.7 15:00 USD Existing Home Sales Oct 5.15M 5.17M 15:00 USD Leading Indicators Oct 0.50% 0.80% 15:00 EUR Eurozone Consumer Confidence Nov A -11.1 -11.1 15:30 USD Natural Gas Storage 40B
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency slipped and bids at 1.2510-20 were filled, however, buy orders are still noted at 1.2500, 1.2465-70 and in good size at 1.2440-45 (stops below), more bids are reported at 1.2420-30 with stops building up below 1.2390, buying interest is noted at 1.2375-80 and 1.2355-60 with more stops placed below barrier at 1.2350. On the upside, offers are seen at 1.2580 and in good size at 1.2600 with more stops placed above 1.2605, selling interest should emerge further out at 1.2640-50. Read more...
Forex Trade Ideas
Trade Idea Update: GBP/USD - Hold long entered at 1.5640 As cable has rebounded after finding renewed buying interest at 1.5632, retaining our bullishness and further consolidation above this week's low at 1.5590 would be seen with upside bias for corrective bounce to previous resistance at 1.5736, however, break there is needed to add credence to our view that low has been formed at 1.5590, bring retracement of recent decline to 1.5765-70 Read more... Trade Idea Update: USD/JPY - Buy at 117.70 Despite intra-day rally to 118.98, as the greenback has retreated after faltering below 119.00 level, suggesting minor consolidation below this level would be seen and pullback to 117.65-70 (50% Fibonacci retracement of 116.34-118.98) cannot be ruled out, however, reckon downside would be limited and bring another rise later, above said resistance at 118.98 would extend upmove to 119.10 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights USD/JPY - Surging Dollar Pushes Above 118 Euro PMIs Declined Again in November Could Inflation Disrupt the USD's Party? EUR Bull Blinded by Flash Numbers GBP Rallies On Good Retail Sales, BRL Recovers JPY Sell-Offs Continue, USD Gains Broadly Technical Highlights US CPI Clears Subdued Expectations as USDNOK Bull Flag Nears Support FTSE Down as Manufacturing PMIs Disappoint USD Index Elliott Wave Analysis: Correction Within Impulse USDJPY Eyes Up 120¥

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Action Insight Daily Report 11-20-14

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: Dollar Extends Rally Against Yen, Range Bound Elsewhere Dollar extends recent up trend against the Japanese yen but remains range bound against other major currencies. The minutes of the October 29 FOMC meeting released overnight provided no revelations. The minutes noted that "many participants observed the committee should remain attentive to evidence of a possible downward shift in longer-term inflation expectations." And, "some of them noted that if such an outcome occurred, it would be even more worrisome if growth faltered." But still, at this point, policy makers believed that inflation expectations remained "well anchored" and would climb back to the 2% target "over the medium term as resource slack diminished." Also, the participants at the meeting "observed that if foreign economic or financial conditions deteriorated further, U.S. economic growth over the medium term might be slower than currently expected." Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.8573; (P) 0.8646; (R1) 0.8692; More... AUD/USD's fall from 0.8795 picked up some momentum. But still, it's held above 0.8539 support. Intraday bias remains neutral and more consolidation could be seen in range of 0.8539/8910. As long as 0.8910 resistance holds, deeper decline is still expected. Break of 0.8539 should target 61.8% projection of 0.9401 to 0.8642 from 0.8910 at 0.8441. However, decisive break of 0.8910 will indicate near term reversal and turn outlook bullish. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update	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.
GMT Ccy Events Actual Consensus Previous Revised 21:45 NZD PPI Inputs Q/Q Q3 -1.50% 0.30% -1.00% 21:45 NZD PPI Outputs Q/Q Q3 -1.10% 0.20% -0.50% 23:50 JPY Trade Balance (JPY) Oct -0.98T -1.02T -1.07T 1:45 CNY HSBC Manufacturing PMI Nov P 50 50.2 50.4 7:00 CHF Trade Balance (CHF) Oct 2.57B 2.45B 7:00 EUR German PPI M/M Oct -0.20% 0.00% 7:00 EUR German PPI Y/Y Oct -0.90% -1.00% 8:00 EUR France Manufacturing PMI Nov P 48.9 48.5 8:00 EUR France Services PMI Nov P 48.6 48.3 8:30 EUR Germany Manufacturing PMI Nov P 51.5 51.4 8:30 EUR Germany Services PMI Nov P 54.5 54.4 9:00 EUR Eurozone Manufacturing PMI Nov P 50.9 50.6 9:00 EUR Eurozone Services PMI Nov P 52.3 52.3 9:30 GBP Retail Sales M/M Oct 0.40% -0.30% 11:00 GBP CBI Trends Total Orders Nov -3 -6 13:30 CAD Wholesale Sales M/M Sep 0.70% 0.20% 13:30 USD CPI M/M Oct -0.10% 0.10% 13:30 USD CPI Y/Y Oct 1.60% 1.70% 13:30 USD CPI Core M/M Oct 0.20% 0.10% 13:30 USD CPI Core Y/Y Oct 1.80% 1.70% 13:30 USD Initial Jobless Claims (NOV 15) 286K 290K 15:00 USD Philly Fed Survey Nov 18.5 20.7 15:00 USD Existing Home Sales Oct 5.15M 5.17M 15:00 USD Leading Indicators Oct 0.50% 0.80% 15:00 EUR Eurozone Consumer Confidence Nov A -11.1 -11.1 15:30 USD Natural Gas Storage 40B
Orders and Options Watch
US Session: Orders and Options Watch EUR: The single currency has surged again in NY morning, offers at 1.2550-55 and stops above there were tripped, however, sell orders in good size are still noted from 1.2580 up to 1.2600 with more stops placed above 1.2605, selling interest should emerge further out at 1.2640-50. On the downside, bids are raised to 1.2510-20, 1.2465-70 and in good size at 1.2440-45 (stops below), more buy orders are reported at 1.2420-30 with stops building up below 1.2390, buying interest is noted at 1.2375-80 and 1.2355-60 with more stops placed below barrier at 1.2350, fresh demand should emerge around 1.2325-35 and 1.2300. Read more...
Forex Trade Ideas
Trade Idea: EUR/GBP - Buy at 0.7955 Despite intra-day rise to 0.8039, as the single currency has retreated after faltering below previous resistance at 0.8047, suggesting minor consolidation would be seen and pullback to 0.7975-80 cannot be ruled out, reckon support at 0.7955 would limit downside and bring another rise later. Above 0.8039-47 resistance area would add credence to our view that the wave c (tentatively an impulsive move) is still in progress for further gain to 0.8066 Read more... Trade Idea: USD/CAD - Hold long entered at 1.1260 As the greenback found renewed buying interest at 1.1260 yesterday and has rebounded, retaining our bullishness and consolidation with upside bias is seen for test of resistance at 1.1402, break there would signal the pullback from 1.1467 has ended and bring retest of this resistance, above there would signal the rise from 1.0660 low has resumed and may extend further gain in wave v to 1.1475-80 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights German Productivity Could Be The Key To EUR Strength Japan's Trade Data Highlights The Benefits And Problems Of A Weakening Yen Instant Reaction: Balanced FOMC Minutes Not Enough To Deter Dollar Bulls The Pound Was The Winner In The Day Of Data US Highlights of the Minutes from the October 28 & 29 FOMC Meeting Technical Highlights AUDUSD Nervously Hovers Above 4-Year Lows AUD/USD – Threatens To Maintain Break Through Support At 0.8650 USDCHF - Threatening Further Downside NZDUSD: Negative RSI Reversal Could Target 2-Year Lows Under .7700

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