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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 |
Mid-Day Report: Euro Stayed in Range, Business as Usual as Greece Sold T-BillsMarkets are generally staying in range so far today despite some volatility. Euro's recovery against dollar and yen lost steam ahead of minor resistance levels of 1.3095 and 104.61 and both pair weakens since then. Though, the selloff is shallow so far. Markets seemed to have calmed down from the election triggered selloff quickly as after all, Hollande's win in France and the political uncertainty in Greece were both not much of a surprise. Business is back to being usual as Greece sold EUR 1.3b of 6-months T-bills today. Yield was up to 4.69% comparing with 4.55% at last equivalent sales. Demand was steady with bid-to-cover ratio at 2.6, comparing to prior 2.62. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9176; (P) 0.9223; (R1) 0.9252; More.... Some more consolidations could be seen below 0.9269 temporary top. But note that with 0.9173 minor support intact, rise from 0.9041 is expected to continue higher for 0.9334 resistance. As noted before, consolidation pattern from 0.9334 is finished and rebound from 0.8930 is resuming. Break of 0.9334 will pave the way back to 0.9594 high. On the downside, below 0.9173 minors support will dampen the immediate bullish view and turn bias neutral again. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: Although the single currency recovered briefly after the release of better-than-expected German industrial production data, the pair quickly dropped again in New York opening on dollar's broad-based rebound, sizeable bids at 1.3000 were filled but buying interests from Middle East names are still noted at 1.2975 and also 1.2950-55 with stops building up below option barriers at 1.2950, 1.2925 and 1.2900. On the upside, first offers are located at 1.3035-40 and also at 1.3060-65 with stops placed above 1.3075, followed by mixture of offers and stops at 1.3095-1.3100. | ||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: EUR/USD – Sell at 1.3120Although the single currency has retreated after faltering below yesterday’s high of 1.3073 and initial downside risk is seen for weakness to 1.3000, as a temporary low is formed at 1.2956, downside should be limited to 1.2970-75 and bring another rebound, above 1.3068-73 (current level of the upper Kumo and yesterday’s high) would bring retracement of recent decline to 1.3120 Trade Idea: USD/CAD – Buy at 0.9880As the greenback has continued to move higher after last week’s strong rebound, adding credence to our view that a temporary low has been formed at 0.9800 and near term bullishness remains for further gain to 1.0030 and possibly test of previous resistance at 1.0053, however, above there is needed to confirm and bring retracement of recent downtrend towards 1.0100 and possibly 1.0148 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||
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