Tuesday, July 31, 2012

Action Insight Mid-Day Report 7-31-12 (trusted: contact@actionforex.com)

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-day Report: Markets Steady ahead of Central Bank Meetings, Sterling Tumbled

Markets remain relatively steady ahead of the heavy weight events later this week. Euro recovers against dollar, sterling and yen, but stays pressured against Aussie. Sterling was weighed down by news that Moody's cut UK's growth forecast. Dollar, on the other hand, received little inspiration from US data. Personal income rose more than expected by 0.5% in June but spending missed by being flat. Headline PCE and core PCE were unchanged at 1.5% yoy in 1.8% yoy respectively. Employment cost index rose 0.5% in Q2. Data from Canada saw GDP rose 0.1% mom in May versus expectation of 0.2% mom. IPPI and RMPI unexpectedly dropped -0.3% mom and -4.0% mom respectively.

Full Report Here...


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Featured Technical Report

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.5671; (P) 1.5711; (R1) 1.5749; More...

GBP/USD's pull back from 1.5767 temporary top extends lower today but loss is so far limited. Intraday bias remains neutral first. Aso, note that we'll stay cautiously bullish as long as 1.5457 support holds and expect rebound from 1.5268 to resume sooner or later. Above 1.5777 will target 1.5901/6 (61.8% retracement of 1.6300 to 1.5268 at 1.5906 and 100% projection of 1.5268 to 1.5777 from 1.5392 at 1.5901).

Read more...

Special Reports

Fed To Extend Low-Rate Guidance Until 2015, QE3 To Be Announced In September

We expect the Fed would continue to leave the QE3 decision on hold in August as the better timing for action would be in September when two employment reports would be released for gauging the impacts of extension of operation twist in June. Moreover, a press conference will be held and staff forecasts will be published by then. Yet, what the Fed might do to drive sentiment in August might be extending the low rate guidance to 2015 and pledging the Fed would use whatever tools to stimulate the economy.

Read more...

ECB to Disappoint in August

The market has been eagerly awaiting the ECB meeting which will be held Thursday after President Mario Draghi's comment last week that the central bank would do whatever it can to preserve the euro. This has raised speculations that the ECB would resume bond purchases in the form of SMP. However, there are many hurdles to this move, in particular opposition of the Bundesbank. While the case of ECB purchases of bond has greatly increased due to worsening of situations in Spain and Italy, the timing of the move is an important issue. The ECB obviously prefer to see the Spanish government request support from the EFSF with conditionality in place before the central bank's involvement in bond purchases. However, this may not come earlier than the Thursday. In such case, we expect the ECB would not announce SMP in August, leaving it to September possibly. We also believe the central bank to leave interest rates unchanged this month, after the surprising rate cut in July.

Read more...

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!
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GMT Ccy Events Actual Consensus Previous Revised
23:01 GBP GfK Consumer Sentiment Jul -29 -29 -29
23:15 JPY Nomura/JMMA Manufacturing PMI Jul 47.9 49.9
23:30 JPY Unemployment Rate Jun 4.30% 4.40% 4.40%
23:30 JPY Household Spending Y/Y Jun 1.60% 2.80% 4.00%
01:00 NZD NBNZ Business Confidence Jul 15.1 12.6
01:30 AUD Building Approvals M/M Jun -2.50% -15.00% 27.30% 27.00%
05:00 JPY Housing Starts Y/Y Jun -0.20% 9.40% 9.30%
06:00 EUR German Retail Sales M/M Jun -0.10% 0.50% -0.30%
06:00 CHF UBS Consumption Indicator Jun 1.6 1.05 1.02
07:55 EUR German Unemployment Change Jul 7K 7K 7K
07:55 EUR German Unemployment Rate Jul 6.80% 6.80% 6.80%
08:00 EUR Italian Unemployment Rate Jun P 10.80% 10.20% 10.10% 10.60%
09:00 EUR Eurozone CPI Estimate Y/Y Jul 2.40% 2.40% 2.40%
09:00 EUR Eurozone Unemployment Rate Jun 11.20% 11.20% 11.10%
12:30 CAD GDPM/M May 0.10% 0.20% 0.30%
12:30 CAD Industrial Product Price M/M Jun -0.30% 0.60% 0.00%
12:30 CAD Raw Materials Price Index M/M Jun -4.00% 1.70% -1.00%
12:30 USD Employment Cost Index Q2 0.50% 0.50% 0.40%
12:30 USD Personal Income Jun 0.50% 0.40% 0.20%
12:30 USD Personal Spending Jun 0.00% 0.10% 0.00%
12:30 USD PCE Deflator Y/Y Jun 1.50% 1.70% 1.50%
12:30 USD PCE Core M/M Jun 0.20% 0.20% 0.10%
12:30 USD PCE Core Y/Y Jun 1.80% 1.80% 1.80%
13:00 USD S&P/Case-Shiller Composite-20 Y/Y May -0.70% -1.50% -1.90%
13:45 USD Chicago PMI Jul 52.5 52.9
14:00 USD Consumer Confidence Jul 61.5 62

Orders and Options Watch

US Session: Orders and Options Watch

GBP: The British pound slipped again in London session as Moody's Investors Service cut its UK GDP forecast, bids at 1.5665-75 were filled and some stops below there were also tripped, more stops below 1.5640 are now in focus but fresh demand from Middle East names should emerge further out at 1.5590-00. On the upside, offers are lowered to 1.5685-90 and also at 1.5700 with stops now placed above 1.5705 and 1.5730-35, however, sizeable sell orders remain at 1.5760-70, followed by mixture of offers and stops in good size around 1.5780-00 region.

Full Report Here...

Forex Trade Ideas

Trade Idea Update: GBP/USD – Hold short entered at 1.5750

Although cable rebounded after falling to 1.5673 yesterday, as price has retreated from 1.5729 after meeting renewed selling interest around the Ichimoku cloud top, suggesting near term downside bias remains for the fall from 1.5768 to bring retracement of recent rise to 1.5645-50 but reckon 1.5610-19 (50% Fibonacci retracement of 1.5452-1.5768 and current level of the Ichimoku cloud bottom) would limit downside

Full Report Here...

Trade Idea: EUR/JPY – Buy at 94.80

Despite last week’s late rise to 97.33, failure to extend such move and the subsequent retreat suggest first leg of correction from temporary low at 94.12 has ended there and consolidation with mild downside bias is seen for weakness to 95.50 and possibly 95.20-25, however, if our view that a temporary low has been formed at 94.12 is correct, downside should be limit to support at 94.66 and bring another rebound later. A break of said resistance would bring retracement of recent decline to 97.88

Full Report Here...

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

 

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Trading forex/CFD's on margin carries a high level of risk, and may not be suitable as you could sustain a total loss of your deposit. Leverage can work against you. Do not speculate with capital that you cannot afford to lose. Be aware and fully understand all risks associated with the market and trading. Prior to trading any products offered by Forex Capital Markets, LLC, FXCM Securities Limited, Forex Capital Markets Limited, inclusive of all EU branches, FXCM Asia Limited, FXCM Australia Limited, FXCM Japan Securities Co. Limited, any affiliates of aforementioned firms, or other firms under the FXCM Inc. (NYSE:FXCM) group of companies [collectively "FXCM"], carefully consider your financial situation and experience level. If you decide to trade products offered by FXCM Australia Limited (AFSL 309763) you must read and understand the Financial Services Guide and Product Disclosure Statement. FXCM may provide general commentary which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. FXCM assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on FXCM's website prior to taking further action.

 

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Forex Trading For Beginners- What Is Forex And How It Works - Investment - Currency Trading

What is Forex and how do you make money with Forex? It's a question that many people want to know the answer to, and no wonder why! There are potential in Forex currency trading for making big sums of money in a matter of minuets.

For a beginner, Forex may seem like an impossible thing to understand. But, the truth is, Forex is actually quite easy to understand. When it comes to Forex, i am no expert by any means. I just know a little about Forex and how it works, mostly from research and readings i have done in the past couple of years. Since Forex is one of the least understood ways of making money online, and since i know there are a lot of beginners who want to learn Forex without having to pay somebody to teach them, or pay thousands of dollars to take a "Forex course", i have decided to write a series of 7 articles about Forex, to help those who are interested in Forex trading, learn the basics of it.

Forex is mad up of two words, Foreign and Exchange. It refers to exchanging foreign currencies, for a profit of course! How is that possible? Well, because of the economical and political happenings, rates of currencies change. It gives you an opportunity to make a profit by trading currencies based on their rates. That's how Forex traders make money. of course, this means that it is risky, and there is possibility that you may lose your money.

Forex Traders Can Trade With Any CountryIn many ways, Forex trading is a lot like stock exchange trading, but there are some game changing differences as well. One difference from stock exchange trading is that unlike stock traders, Forex traders are not limited to dealing in their own country. A Forex trader can trade any two currencies, at any time, any where. Which makes Forex market, an international market.

Forex Market Is Open 24 Hours A DayThat brings us to another major difference between stock exchange trading and foreign currency trading. As you know, there are different time zones in different parts of world, and since Forex market is an international market, to be possible for anyone from anywhere to trade at any time, forex market has to be open 24 hours a day.

In Forex Currencies Are Represented With 3 LettersJust like stock exchange market that each company is represented with certain letters, In Forex, currencies are represented that way also. But, unlike stock exchange market that a company can be represented by any number of letters, in Forex market, currencies are represented by only 3 letters: USD for the US dollar, GBP for the British pound, EUR for the Euro, JPY for the Japanese Yen, CHF for the Swiss franc, CAD for the Canadian dollar, AUD for the Australian dollar, and so on.

How Exchange Rates Are ExpressedAnother major thing about Forex is that, the exchange rate between two currencies, are expressed like this: USD/CHF 1.14. Which means to buy one US dollar you will have to spend 1.14 Swiss francs.

Trusted Forex BrokerTo start trading, you will need to find a trusted Forex broker or an investment management company. Don't take this step lightly. Scammers have been ripping off people for years. So, it is only wise to look around, and make sure you find someone who you can trust. Use forums and online groups to find out about how and where to find a trusted Forex broker.

Automated Forex Trading Software (Bot)Since Forex is an international market and there are trades going on at any moment, and obviously you cant watch it 24 hours a day, it is a good idea to use an Automated Forex Trading Software (a bot). It can trade 24 hours a day according to rules that you set for it. And they usually come with a demo option for you to test the system and get to know how it works, before you let it trade with real money.





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Action Insight Daily Report 7-31-12 (trusted: contact@actionforex.com)

ActionForex.com
Action Insight Market Overview Markets Snapshot

Daily Report: High Beta Currencies Extend Rally, Euro Consolidates

High beta currencies continue to ride on risk appetite and strengthen broadly today while European majors are lagging behind and stuck in range against dollar and yen. US Treasury Secretary Geithner met with German Finance Minister Schaeuble yesterday and issued a joint statement afterwards. They expressed "confidence in euro area member states' efforts to reform and move towards greater integration" and hailed improvements in Ireland and Portugal, as well as the "considerable efforts by Spain and Italy. Meanwhile, they also pledged to "cooperate closely with their partners when advancing the policy agenda in autumn to further stabilize global and European economies." And that included emphasis on the need for "ongoing international cooperation and coordination to achieve sustainable public finances, reduce global macroeconomic imbalances, and restore growth." Meanwhile, Greece was omitted from the statement. Geithner also met with ECB president Draghi but no statement was issued.

Full Report Here...


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Featured Technical Report

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.0001; (P) 1.0027; (R1) 1.0041; More.

USD/CAD's fall extends further to as low as 1.0003 so far today. Intraday bias remains on the downside and current choppy fall from 1.0445 is going to go deeper and could target a retest on 0.9799 low. On the upside, above 1.0052 minor resistance will turn intraday bias neutral and bring recovery. But break of 1.0231 resistance is needed to indicate near term reversal. Otherwise, outlook will remain mildly bearish.

Read more...

Special Reports

Fed To Extend Low-Rate Guidance Until 2015, QE3 To Be Announced In September

We expect the Fed would continue to leave the QE3 decision on hold in August as the better timing for action would be in September when two employment reports would be released for gauging the impacts of extension of operation twist in June. Moreover, a press conference will be held and staff forecasts will be published by then. Yet, what the Fed might do to drive sentiment in August might be extending the low rate guidance to 2015 and pledging the Fed would use whatever tools to stimulate the economy.

Read more...

ECB to Disappoint in August

The market has been eagerly awaiting the ECB meeting which will be held Thursday after President Mario Draghi's comment last week that the central bank would do whatever it can to preserve the euro. This has raised speculations that the ECB would resume bond purchases in the form of SMP. However, there are many hurdles to this move, in particular opposition of the Bundesbank. While the case of ECB purchases of bond has greatly increased due to worsening of situations in Spain and Italy, the timing of the move is an important issue. The ECB obviously prefer to see the Spanish government request support from the EFSF with conditionality in place before the central bank's involvement in bond purchases. However, this may not come earlier than the Thursday. In such case, we expect the ECB would not announce SMP in August, leaving it to September possibly. We also believe the central bank to leave interest rates unchanged this month, after the surprising rate cut in July.

Read more...

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!
Register FREE today!

GMT Ccy Events Actual Consensus Previous Revised
23:01 GBP GfK Consumer Sentiment Jul -29 -29 -29
23:15 JPY Nomura/JMMA Manufacturing PMI Jul 47.9 49.9
23:30 JPY Unemployment Rate Jun 4.30% 4.40% 4.40%
23:30 JPY Household Spending Y/Y Jun 1.60% 2.80% 4.00%
1:00 NZD NBNZ Business Confidence Jul 15.1 12.6
1:30 AUD Building Approvals M/M Jun -2.50% -15.00% 27.30% 27.00%
5:00 JPY Housing Starts Y/Y Jun -0.20% 9.40% 9.30%
6:00 EUR German Retail Sales M/M Jun -0.10% 0.50% -0.30%
6:00 CHF UBS Consumption Indicator Jun 1.6 1.05 1.02
7:55 EUR German Unemployment Change Jul 7K 7K
7:55 EUR German Unemployment Rate Jul 6.80% 6.80%
8:00 EUR Italian Unemployment Rate Jun P 10.10%
9:00 EUR Eurozone CPI Estimate Y/Y Jul 2.40% 2.40%
9:00 EUR Eurozone Unemployment Rate Jun 11.20% 11.10%
12:30 CAD GDPM/M May 0.20% 0.30%
12:30 CAD Industrial Product Price M/M Jun 0.60% 0.00%
12:30 CAD Raw Materials Price Index M/M Jun 1.70% -1.00%
12:30 USD Employment Cost Index Q2 0.50% 0.40%
12:30 USD Personal Income Jun 0.40% 0.20%
12:30 USD Personal Spending Jun 0.10% 0.00%
12:30 USD PCE Deflator Y/Y Jun 1.70% 1.50%
12:30 USD PCE Core M/M Jun 0.20% 0.10%
12:30 USD PCE Core Y/Y Jun 1.80% 1.80%
13:00 USD S&P/Case-Shiller Composite-20 Y/Y May -1.50% -1.90%
13:45 USD Chicago PMI Jul 52.5 52.9
14:00 USD Consumer Confidence Jul 61.5 62

Orders and Options Watch

European Session: Orders and Options Watch

EUR: Although the single currency rebounded after falling to 1.2225 yesterday in part due to improved risk sentiment and some stops at 1.2270 were tripped, euro ran into indicated offers at 1.2290 and has retreated. At the moment, bids from funds are noted at 1.2250 and mixture of bids and stops in good size is located at 1.2220-25, followed by larger sell stop orders below 1.2190 and 1.2170. On the upside, offers remain at 1.2290-00 and also at 1.2330-40 with stops now building up above 1.2340-50 but more sizeable sell orders are tipped at 1.2380-00 region (for protection of 1.2400 barrier).

Full Report Here...

Forex Trade Ideas

Trade Idea: USD/CHF – Sell at 0.9850

Yesterday’s breach of 0.9809 resistance adds credence to our view that a temporary low is formed and although price has retreated from 0.9823, near term upside risk remains for retracement to 0.9834 (50% Fibonacci retracement of 0.9972-0.9696), however, renewed selling interests should emerge around 0.9850 and bring another decline. Below 0.9755-60 (current level of the lower Kumo) would bring weakness to 0.9730, break there would signal rebound from 0.9696 has ended

Full Report Here...

Trade Idea: GBP/USD – Hold short entered at 1.5750

Although cable rebounded after falling to 1.5673 yesterday, as price has retreated from 1.5729 after meeting renewed selling interest around the Ichimoku cloud top, suggesting near term downside bias remains for the fall from 1.5768 to bring retracement of recent rise to support at 1.5666 (Friday’s low), then towards 1.5645-50 but reckon 1.5610-19 (50% Fibonacci retracement of 1.5452-1.5768 and current level of the Ichimoku cloud bottom) would limit downside

Full Report Here...

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

 

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This email was sent to actionforex.20.trader1983@spamgourmet.com by contact@actionforex.com |  

Action Forex Company Limited | Room 1707, 17/F | Treasure Center | 42 Hung To Road | Kwun Tong | Kowloon | 852 | Hong Kong

Monday, July 30, 2012

Action Insight Mid-Day Report 7-30-12 (trusted: contact@actionforex.com)

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Risk Rally Left Euro Behind, EUR/AUD at Another Record Low

On the one hand, risk market's rally somewhat continues today with broad based strength in European and Asian equities and such strength helps boost Aussie higher. US stocks opened nearly flat and provided no further inspiration, though. On the other hand, euro retreated against dollar and yen as markets are starting to get cautious on whether ECB president Draghi could deliver something this week. Italia auction, Spanish GDP and eurozone confidence indicators also weighed on the common currency. EUR/AUD broke through 1.1694 and made a new record low today.

Full Report Here...


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Featured Technical Report

EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.1697; (P) 1.1777; (R1) 1.1820; More....

EUR/AUD's downtrend resumed after brief consolidation and reached new record low at 1.1659. Intraday bias is back on the downside and current fall should continue it's march to next projection level at 1.1352. Note that we're seeing bullish divergence condition in 4 hours MACD, and EUR/AUD could find some support at 1.1352 and rebound. As for now, break of 1.1855 resistance is needed to signal short term bottoming. Or, we'll stay bearish even in case of recovery.

Read more...

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!
Register FREE today!

GMT Ccy Events Actual Consensus Previous Revised
22:45 NZD Building Permits M/M Jun 5.70% 7.30% -7.10% -7.20%
23:50 JPY Industrial Production M/M Jun P -0.10% 1.50% -3.40%
8:30 GBP Mortgage Approvals Jun 44.0K 48.0K 51.1K 51.0K
8:30 GBP M4 Money Supply M/M Jun -1.60% 0.30% -0.10%
9:00 EUR Eurozone Consumer Confidence Jul F -21.5 -21.6 -21.6
9:30 EUR Eurozone Economic Confidence Jul 87.9 88.9 89.9
9:30 EUR Eurozone Industrial Confidence Jul -15 -14 -12.7 -12.8
9:30 EUR Eurozone Services Confidence Jul -8.5 -8 -7.4
10:00 GBP CBI Reported Sales Jul 11 20 42

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency has continued to move lower, bids at 1.2250-60 were filled and stops below 1.2240 were triggered, however, buying interests are still noted at 1.2220-25, followed by mixture of bids and stops at 1.2190-00 with bigger stops placed below 1.2170. On the upside, light offers remain at 1.2290-1.2300 and also at 1.2330-40 with light stops placed above 1.2345-50 but sizeable sell orders remain at 1.2380-90 and stops are building up above said barrier at 1.2400.

Full Report Here...

Forex Trade Ideas

Trade Idea Update: GBP/USD – Hold short entered at 1.5750

Although the British pound extended last week’s rise to as high as 1.5768, the subsequent retreat has retained our consolidative view and mild downside bias remains for test of support at 1.5666 (Friday’s low and same level as the Ichimoku cloud top), then towards 1.5645-50 but reckon 1.5610 (50% Fibonacci retracement of 1.5452-1.5768) would limit downside and the Ichimoku cloud bottom (now at 1.5603) should hold, bring another rise later.

Full Report Here...

Trade Idea: EUR/JPY – Buy at 94.80

Despite Friday’s rise to 97.33, the subsequent retreat suggests first leg of correction from temporary low at 94.12 has ended there and consolidation with mild downside bias is seen for weakness to 95.50 and possibly 95.20-25, however, if our view that a temporary low has been formed at 94.12 is correct, downside should be limit to support at 94.66 and bring another rebound later. A break of said resistance would bring retracement of recent decline to 97.88

Full Report Here...

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

 

INO TV Free

Forward this report to a friend!

This email was sent to actionforex.20.trader1983@spamgourmet.com by contact@actionforex.com |  

Action Forex Company Limited | Room 1707, 17/F | Treasure Center | 42 Hung To Road | Kwun Tong | Kowloon | 852 | Hong Kong