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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Weekly Report | Markets Snapshot |
Daily Report: Risk Markets Dive on Greece Default Risks, Euro in RangeRisk markets tumble sharply again as worry on Greece intensifies. Asian equities are broadly lower even though DOW pared much of the mid session loss and closed merely down -0.6%. Commodity currencies are hardest hit this week with AUD/USD back pressing parity for the moment and USD/CAD is back above parity already. Nonetheless, European majors are relatively steady with EUR/USD staying above 1.2954 temporary low while USD/CHF is also held below 0.9269 temporary top. EUR/JPY and GBP/JPY are also staying in this week's tight range. Dollar index breaches 80 psychological level again but struggles to stay above there so far. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 1.0066; (P) 1.0141; (R1) 1.0195; More AUD/USD's decline resumed after brief recovery and reaches as low as 1.0051 so far today, breaking mentioned 61.8% projection of 1.0852 to 1.0225 from 1.0473 at 1.0086. Intraday bias remains on the downside for the moment and deeper fall should be seen through parity to 100% projection at 0.9846 next. On the upside, above 1.0219 minor resistance will turn bias neutral again and bring consolidations. But in that case, upside of recovery is expected to be limited below 1.0473 resistance and bring fall resumption. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: The single currency slipped again in New York afternoon session and bids at 1.2980-85 were filled, however, buying interests are still noted at indicated level of 1.2955-65 and stops remain below option barrier at 1.2950 but fresh demand from Asian sovereign names should emerge around 1.2920-25 and also at 1.2900 with more stops placed below the barrier at 1.2900. On the upside, offers are lowered at 1.3000-05 and also at 1.3040-50 with stops building up above 1.3070 and 1.3100. | ||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||
Trade Idea: USD/CHF – Buy at 0.9195Although dollar’s rebound after holding above support at 0.9191 suggests consolidation with upside bias would be seen, break of this week’s high of 0.9272 is needed to signal the rise from 0.9043 has resumed and extend gain to 0.9300, however, loss of near term momentum should prevent sharp move beyond previous resistance at 0.9335 and risk from there is seen for a retreat later. Trade Idea: EUR/USD – Sell at 1.3060Although the single currency met renewed selling interests around the Ichimoku cloud bottom, break of this week’s low at 1.2956 is needed to confirm the decline from 1.3284 top has resumed and extend weakness to 1.2940 and possibly 1.2920-25 but loss of near term momentum should limit downside to 1.2900, risk from there has increased for a rebound later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
Technical Highlights | ||||||||||||||||||||||||||||||||||||||||||
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