Thursday, December 22, 2011

Action Insight Daily Report 12-23-11 (trusted: contact@actionforex.com)

ActionForex.com
Action Insight Market Overview Markets Snapshot

Daily Report: Commodity Currencies Firm on Risk Appetite ahead of Holiday

Markets are pretty steady in thin holiday trading today. Euro is holding on to 1.3 against dollar despite making new record low against Aussie. Meanwhile, commodity currencies are generally higher, as lifted by risk appetite following positive employment data from US yesterday. Rebound in oil prices, which touches 100 again, is providing some additional support to the Canadian dollar. Recent actions in DOW suggests that a new high above 12284.31 might be seen next week just before the year closes and that could lead commodity currencies further higher.

Full Report Here...


jpyvol.png
nzdusdpiv.png

Featured Technical Report

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.2835; (P) 1.2897; (R1) 1.2940; More.

EUR/AUD's decline continues today and dips to as low as 1.2837 so far. Near term outlook will remain bearish as long as 1.3150 resistance holds. Next short term target will be 61.8% projection of 1.3808 to 1.2962 from 1.3150 at 1.2627. Though, break of 1.3150 will indicate short term bottoming and bring rebound.

Read more...

Economic Indicators Update

Don’t miss the largest investor and trader gathering in the World—The World MoneyShow Orlando, February 9-12, 2012 at the Gaylord Palms Resort. Be there as recommendations and advice are revealed for how to best position your portfolio for profit—in 2012 and beyond. Register Free Today!

GMT Ccy Events Actual Consensus Previous Revised
09:30 GBP Index of Services 3M/3M Oct 0.30% 0.60%
09:30 GBP BBA Loans for House Purchase Nov 36.3K 35.3K
13:30 CAD GDP M/M Oct 0.20%
13:30 USD Durable Goods Orders Nov 2.20% -0.70%
13:30 USD Durables Ex Transportation Nov 0.40% 0.70%
13:30 USD Personal Income Nov 0.30% 0.40%
13:30 USD Personal Spending Nov 0.30% 0.10%
13:30 USD PCE Deflator Y/Y Nov 2.70% 2.70%
13:30 USD PCE Core M/M Nov 0.10% 0.10%
13:30 USD PCE Core Y/Y Nov 1.70% 1.70%
15:00 USD New Home Sales Nov 313K 307K
Orders and Options Watch

European Session: Orders and Options Watch

EUR: The single currency rebounded on the back of aussie's rise and improved risk appetite in very thin trading condition (due to Japan's holiday), however, offers are still noted from 1.3080 up to 1.3100 and better size selling interest from Asian CBs remains at 1.3120-30, then 1.3150-60. On the downside, some defensive bids (for protection of large stops below 1.3000) are reported from 1.3040 down to 1.3010 and more stops are tipped below 1.2980.

Read more...

Forex Trade Ideas

Trade Idea: GBP/USD – Buy at 1.5590

As cable has remained confined within near term established range, suggesting further consolidation would be seen and another corrective fall to 1.5638 support, then the lower Kumo (now at 1.5638) cannot be ruled out, however, renewed buying interest should emerge around 1.5590-00 and bring another rise later. A sustained breach of said minor resistance at 1.5729 would bring a test of indicated strong resistance at 1.5775-80

Read more...

Trade Idea: USD/JPY – Buy at 77.30

Despite intra-day brief rise to 78.23, lack of follow through buying on break of yesterday’s high of 78.20 and current retreat after faltering below indicated resistance at 78.29 suggests consolidation below this level would take place and retracement to the Ichimoku cloud top (now at 77.99) and then lower Kumo (now at 77.91) would be seen, however, downside should be limited to support at 77.62 and renewed buying interest should emerge around 77.30, bring another rise later.

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

Technical Highlights


Forward this report to a friend!

This email was sent to actionforex.20.trader1983@spamgourmet.com by contact@actionforex.com |  

Action Forex Company Limited | Room 1707, 17/F | Treasure Center | 42 Hung To Road | Kwun Tong | Kowloon | 852 | Hong Kong

No comments:

Post a Comment