| Having trouble viewing this email? Click here |
 |  |
| 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 Weekly Report | Markets Snapshot |
Mid-Day Report: Euro Extends Rebound on Greece, Firm after ECBEuro recovers strongly today on optimism that Greece will successfully complete the PSI debt swap deal. The common currency also maintain gains after ECB left rates unchanged at 1.00% as widely expected. In the post meeting press conference, ECB President Draghi said that recent data “confirm signs of a stabilization in the euro area economy,” even though it's still subject to downside risks. He expects Eurozone to "recover gradually in the course of this year" but the debt crisis could "dampen the underlying growth momentum." Draghi noted that inflation will likely stay above 2% this year with "upside risks prevailing". In updated projections, inflation is expected to average 2.4% in 2012, up from prior projection of 2.0%. GDP is projected to contract -0.1%, down from prior projection of 0.3% growth. The comments are considered hawkish by some analysts and provide some support to the common currency. |
|
| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 80.70; (P) 80.96; (R1) 81.34; More... USD/JPY continues to stay in range below 81.86 short term top and intraday bias remains neutral. Another fall could be seen to 80.58 and below as consolidation continues. But downside is expected to be contained by 38.2% retracement of 76.02 to 81.86 at 79.62 and bring rally resumption. On the upside, break of 81.86 will target a test on 85.51 key resistance level. |
| Special Report |
China Watch: China To Seek Lower Growth, Widen RMB Floating BandWhile we are just in the beginning of the annual National People's Congress in Beijing (started on March 5 and is expected to last for 10 days), several surprises have already been delivered. First, regarding the economic outlook, Premier Wen Jiabao announced moderate goals for economic growth, inflation and money supply. GDP growth for 2012 will be around 7.5%, faltering below the 8% target over the past 8 years. Inflation will stay at around 4% while M2 growth at 14%. The set of targets signals that the Chinese government accepts slower growth in the medium-term. Meanwhile, the PBOC governor Zhou Xiaochuan indicated that China is considering 'appropriately' widening the trading band for the RMB. |
| Economic Indicators Update | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency rallied throughout Asian and European session on active buying by U.S. custodian names and stops above 1.3245-55 were triggered, however, offers are still noted from 1.3260 up to 1.3280 with more stops placed above 1.3285-90 but fresh offers are expected to emerge around 1.3300 and 1.3330-40. On the downside, bids from same parties plus Asian names are lined up at 1.3200-10 and also 1.3160-70 with mixture of bids and stops seen at 1.3120-25 and sizeable stops are building up below 1.3090. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: GBP/USD – Buy at 1.5750Although cable has retreated after intra-day rise to 1.5832 and pullback to the Kijun-Sen (now at 1.5765) is likely, reckon the Ichimoku cloud bottom (now at 1.5743) would limit downside and bring another rebound, a break of said resistance would bring a stronger retracement of recent decline from 1.5993 top towards 1.5880-84 (61.8% Fibonacci retracement of 1.5993-1.5698 and previous resistance) Trade Idea: EUR/GBP – Sell at 0.8430As the single currency has rebounded again today, suggesting near term upside risk remains for retracement of the fall from 0.8506 and gain to 0.8430 cannot be ruled out, however, if our view that top has been formed at 0.8506 is correct, previous support at 0.8441 would cap upside and bring another decline later. A break of last week’s low of 0.8314 would extend weakness to 0.8300, then indicated support at 0.8264 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
Technical Highlights
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| ||||||||
No comments:
Post a Comment