| 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 Market Overview | Markets Snapshot |
Daily Report: Markets Calm With Eyes on EU Summit Later in the WeekMarkets are generally calm in Asia as the week starts with equities quickly recovered from early losses. Meanwhile, dollar is steadily in range against other major currencies. A major focus of the week will be on EU summit on June 28/29. Over the weekend, Germany's Chancellor Merkel agreed to jointly lobby the EU ministers for a growth plan of up to EUR 130 with leaders from France, Italy and Spain after a four-way summit. However, she continued to resist calls for joint Euro bonds, as well as the idea to use ESM to buy peripheral debt to stabilize the bond markets. Merkel will meet with French President Hollande again on Wednesday to prepare for the European Council meeting. |
|
| Featured Technical Report | |
GBP/JPY Daily OutlookDaily Pivots: (S1) 124.84; (P) 125.30; (R1) 125.83; More... With 4 hours MACD staying below signal line, intraday bias in GBP/JPY is neutral for the moment. Rebound from 118.82 could still extend higher as long as 122.12 minor support holds. But considering bearish divergence condition in 4 hours MACD, even in the next rise, strong resistance will likely be seen ahead of 127.10 and bring reversal. On the downside, break of 122.12 will now indicate that corrective rise from 118.82 is finished and larger decline from 133.48 is resuming for a test on 116.83/117.29 support zone. |
| Economic Indicators Update | Learn Expert Strategies to Profit in a Presidential Election Year. Join me at this year's MoneyShow San Francisco, August 24-26, at the San Francisco Marriott Marquis and be there as recommendations and advice are revealed for how to best position your portfolio for profit - in 2012 and beyond! | |||||||||||||
| ||||||||||||||
Orders and Options Watch | ||||||||||||||
European Session: Orders and Options WatchEUR: The single currency dropped again this morning and bids at the region of 1.2500-20 were filled, traders continued to unwind their long position in euro ahead of 28-29 EU leaders summit, however, mixture of bids and stops remains at 1.2470-75 with more buying interests form Middle East and Asian names likely to emerge around 1.2440-50. On the upside, first offers are reported at 1.2545-50 and more sell orders are tipped at 1.2565-70 with stops building up above 1.2585 but fresh offers should emerge around 1.2600 with bigger stops expected around 1.2640-50. | ||||||||||||||
| Forex Trade Ideas | ||||||||||||||
Trade Idea: GBP/USD – Sell at 1.5630Although the British pound extended last week’s fall from 1.5778 to a marginal low of 1.5551 (Friday’s low was 1.5557), lack of follow through selling in part due to weakening of downward momentum suggests risk has increased for a corrective rebound and above the Kijun-Sen (now at 1.5596) would bring minor correction to 1.5631-34 (current level of the Ichimoku cloud bottom and Friday’s high) but renewed selling interests should emerge there, bring another decline. Trade Idea: USD/JPY – Buy at 79.40Despite rising briefly to 80.63, lack of follow through buying on break of Friday’s high of 80.57 and the subsequent retreat from there suggests a minor top is formed and near term downside risk is seen for correction of recent rise to 78.67-71 (current level of the Ichimoku cloud bottom and previous resistance), however, reckon 79.31-39 (previous resistance and support) would limit downside and bring rebound later. 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