Wednesday, January 11, 2012

Action Insight Mid-Day Report 1-11-12 (trusted: contact@actionforex.com)

ActionForex.com
Action Insight Weekly Report Markets Snapshot

Mid-Day Report: Euro Dives as Fitch Urged ECB Action, Germany Recession Risk

European majors and stock indices fell sharply today as Fitch warned of a "cataclysmic" collapse of Euro, unless ECB scale up its bond purchase. David Riley, head of the sovereign-debt unit at Fitch, said ECB has much scope to expand the balance strength and ECB could pledge to cap interest rates, keep bond yields below 7% or turn EFSF into a bank. Riley warned yesterday that Italy is the "front line" of Europe's debt crisis and "the future of euro will be decided at the gates of Rome". He further said that Euro could not survive if "Italy does not make it through.

Full Report Here...


jpyvol.png
nzdusdpiv.png

Featured Technical Report

EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.2338; (P) 1.2406; (R1) 1.2451; More.

EUR/AUD drops to new record low of 1.2347 so far today and intraday bias remains on the downside for 100% projection of 1.3808 to 1.2962 from 1.3150 at 1.2304. Break will target 1.2 psychological level. Meanwhile, near term outlook will stay bearish as long as 1.2504 resistance holds even in case of recovery. Though, break of 1.2504 minor resistance will indicates short term bottoming and bring rebound back to 4 hours 55 EMA (now at 1.2555) and possibly above.

Read more...

Special Report

2012 Forecast: Sterling Has Potential to Weaken Against Euro

Similar to the euro, the British pound will likely weaken against the US dollar amid risk aversion in the first half of the year. Against the euro, the pound had gained for 3 consecutive years since 2009 although the magnitude has been declining. In 2011, EURGBP has been on a down trend since the EU summit as pessimism that EU finance leaders would not be able to derive effective measures to resolve the sovereign debt crisis has made sterling a safe-haven asset in the short-term. We do not expect this to continue this year as the UK has its own fiscal and economic problems to struggle. The disaster these might cause is not less than the debt problems in the17-nation region. An option to alleviate the economic problems would be monetary easing. Without the need of majority vote, the BOE may deliver more dovish stance on the monetary outlook than the ECB in 2012. This would then weaken the British pound.

Read more...

2012 Forecast: USDJPY To Move Sideways

We expect the movement of Japanese yen this year will be directed by factors including BOJ’s intervention, risk appetite and Fed’s QE3. Optimism of FOMC policymakers and the fiscal situation in the US will exert downward pressure on USD/JPY in the first half of the year but the BOJ will likely defend the level of 75 via intervention. Upside of the currency pair will also be capped by sluggish US economic growth and probable implementation of Fed’s QE3 later in the year. In this case, USD/JPY will likely be range-bounded this year.

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
0:01 GBP BRC Shop Price Index Y/Y Dec 1.70% 2.00%
5:00 JPY Leading Index Nov P 92.9 92.9 92
9:30 GBP Visible Trade Balance (GBP) Nov -8.6B -8.2B -7.6B
15:30 USD Crude Oil Inventories 0.9M 2.2M
19:00 USD Fed's Beige Book
2012 Elliott Wave Forecast

USD index 2012 Elliott Wave Forecast

Despite falling to as low as 72.70 in H1 2011, dollar index found good support there and staged a rebound from there back to the opening level of 2011, suggesting the major downtrend is not ready to resume yet and wave IV correction is still unfolding as a complex correction. We are keeping our preferred count that a major (A)-(B)-(C) wave has commenced since 1980s with (A) wave ended at 78.19 in 1992, followed by a 3-legged wave (B) ended at 121.02 in 2001 and 5-waver wave (C) is unfolding with wave III ended at 70.70 in 2008.

Read more...

Orders and Options Watch

US Session: Orders and Options Watch

EUR: Although the single currency recovered to an intra-day high of 1.2790 amid speculation that PBOC may lower the RRR, euro ran into heavy offers from hedge funds (for protection of stops above 1.2800 and 1.2820) and slipped in European session on stop-loss hunting activities, bids at 1.2730 and stops below 1.2720 were cleared, however, bids from Asian sovereign names are still noted from 1.2680 down to 1.2650 (option barrier) with stops building up below latter level. On the upside, offers from same parties are lined up from 1.2750 up to 1.2800.

Read more...

Forex Trade Ideas

Trade Idea Update: USD/CHF – Hold long entered at 0.9480

Dollar’s intra-day rebound to 0.8560 suggests the correction from 0.9595 (this week’s high) has possibly ended at 0.9466 and consolidation with upside bias is seen for further gain to said resistance, however, break there is needed to confirm recent upmove from record low of 0.7068 has resumed and extend gain towards 0.9630, however, loss of upward momentum should prevent sharp rise beyond 0.9650

Read more...

Trade Idea: AUD/USD – Hold long entered at 1.0175

Although aussie retreated after rising to 1.0352 yesterday, as price has rebounded again after finding renewed buying interest at 1.0270 today, retaining our view that retreat from 1.0387 has ended at 1.0145 and bullishness remains for this rebound from 1.0145 (this week’s low) to bring another test of this level. Looking ahead, only above said resistance at 1.0387 would extend the move from 0.9664 for gain towards 1.0450/55

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

2012 Outlook

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