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| Action Insight Weekly Report | Markets Snapshot |
Daily Report: Aussie Dives on CPI, Markets Steady Elsewhere Despite Political Uncertainties in EuropeSentiments are generally weak today as weighed down by political uncertainties in Europe. Asia equities are broadly lower following selloff in US stocks overnight, which saw -102 pts fall in DOW. But loss in Asian equities are limited so far. Most major currencies are staying above yesterday's low against dollar and yen so far. Aussie is the exception as steep selloff is seen after weaker than expected consumer inflation reading. Dollar index also failed to sustain yesterday's gain and is back trading at around 79.3 level for the moment. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 1.0267; (P) 1.0325; (R1) 1.0380; More AUD/USD's break of 1.0304 minor support firstly indicates that recovery from 1.0225 is already finished. Also, considering that AUD/USD is staying below the falling 55 days EMA, fall from 1.0852 should still be in progress. Intraday bias is now back on the downside for 1.0225 first. Break will confirm this bearish case and bring deeper fall to 0.9663 support. On the upside, though, above 1.0324 will mix up the outlook again and turn bias neutral. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: Despite falling to 1.3105 yesterday, the single currency shrugged off several negative news out of Europe and has staged a rebound in late New York, some stops at 1.3165-70 were just tripped, more stops are reported at 1.3180, followed by mixture of offers and stops at 1.3220-30 and option defensive offers are expected ahead of 1.3250 barrier. On the downside, decent bids from Eastern European names are tipped at 1.3100-10 and also in the region of 1.3060-80 with bigger stops placed below 1.3050. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea: GBP/USD – Buy at 1.6010 or sell at 1.6220Despite yesterday’s retreat from 1.6155 to 1.6076, the subsequent rebound suggests a retest of said resistance would be seen, break there would extend recent upmove to 1.6200, however, reckon upside would be limited to 1.6215-20 (50% projection of 1.5862-1.6155 measuring from 1.6076) and bring retreat later, below said support at 1.6076 would bring retracement to 1.6040-50 but renewed buying interest should emerge around previous support at 1.6009, bring another rise later. Trade Idea: EUR/USD – Sell at 1.3200Although the single currency has rebounded after falling to 1.3105 yesterday, if our view that a top has been formed at 1.3225 is correct, upside should be limited to 1.3200 and bring another retreat, below said support at 1.3105 would add credence to this view and bring further weakness towards previous support area at 1.3058-69, however, as broad outlook remains consolidative, previous support at 1.2995 should contain downside Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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