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Daily Report: Focus Turning to US NFP, Strong Number Anticipated?The record ADP number from US yesterday was overshadowed by intensifying worry on the never-ending European debt crisis. The anticipated risk rally didn't happen even though DOW, FTSE and DAX managed to close nearly flat. Asian markets are mostly down with Nikkei losing over -110 pts and put most currencies under renewed pressure against dollar. Investors will turn their focus to today's Non-farm payroll report for inspirations. But the tug-of-war between US recovery and European debt will continue and offset each others' impact on markets. |
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| Featured Technical Report | |
EUR/GBP Daily OutlookDaily Pivots: (S1) 0.8238; (P) 0.8264; (R1) 0.8278; More EUR/GBP's fall is still in progress and reaches as low as 0.8244 so far. Intraday bias remains on the downside for 0.8607 key support. On the upside, above 0.8291 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited by 0.8420 resistance and bring another fall. |
| Special Report |
2012 Forecast: USD to Strengthen Further in First Half of 2012The US dollar is expected to outperform other major currencies in the first half of 2012. The key reasons for the greenback's glitter are the ongoing sovereign debt crisis in the Eurozone and the relatively strong economic improvement in the US. It is, however, rather difficult to forecast the outlook of the US dollar in the second half of the year as uncertainties related to the pace of recovery in European economies, fiscal tightening in the US and the FED's implementation of QE3 heighten. Moreover, the ability for China to avoid hard landing would be another factor affect USD's outlook. |
| 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! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| 2012 Elliott Wave Forecast | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: Yesterday's selloff triggered several option barriers, 1.2850, 1.2825, 1.2800, 1.2775 and more stops are reported below next barrier at 1.2750, price slipped to as low as 1.2763 this morning and then recovered on rumor of explosion in North Korean nuclear facility. At the moment, offers in good size are still noted at 1.2800 and further out at 1.2850-60 with mixture of offers and stops tipped further out at 1.2890-00. On the downside, if stops below 1.2750 are tripped, next barriers are located at 1.2725 and 1.2700 but some decent demand from Asian sovereign names are noted ahead of both levels. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: GBP/USD – Hold long entered at 1.5480Despite yesterday’s selloff to 1.5466, as cable has rebounded again after holding above this level today, suggesting further consolidation would be seen and as long as this support holds, mild upside bias remains for another bounce to the flat ground Kijun-Sen (now at 1.5561) and possibly to previous support at 1.5580 but reckon the Ichimoku cloud bottom (now at 1.5570) would limit upside Trade Idea: EUR/USD – Sell at 1.2885Despite intra-day marginal fall to 1.2763, lack of follow through selling on break of yesterday’s low of 1.2776 suggests consolidation would be seen and recovery to 1.2800 and possibly 1.2853-58 (current level of the Kijun-Sen and previous support) cannot be ruled out, however, previous support at 1.2898 should hold and bring another decline later. A break of said support would extend recent decline to 1.2750 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2012 Outlook
Fundamental Highlights
Technical Highlights
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