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| 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: Risk Aversion Back on Spain and GreeceRisk aversion dominated that market, following the moves on late Friday as concerns in Spain persists and worries on Greece resurfaces. Asia equities are broadly lower with Nikkei down -116 pts while HK HSI down -492 pts at the time of writing. Dollar and yen gained broadly with dollar index edging higher to 83.73 level. Worries in Eurozone sent US 10 year yield sharply lower to historical low of 1.4365% in Asia. Meanwhile, 10-year JGB yield also dropped to nine-year low of 0.730%. Lower yields are sending yen crosses sharply lower, including USD/JPY. Aussie and Canadian dollar and sterling are hit hard. But it should be noted that EUR/AUD is staying well below a minor resistance of 1.1791 while EUR/CAD is kept below 1.2500. The common currency is expected to be sold off further against, commodity currencies, sterling and yen. |
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| Featured Technical Report | |
EUR/JPY Daily OutlookDaily Pivots: (S1) 94.96; (P) 95.83; (R1) 96.32; More EUR/JPY dives further to as low as 94.49 so far today and intraday bias remains on the downside. Current fall should be target 61.8% projection of 111.43 to 95.64 from 101.62 at 91.86. Though, we'd be cautious on bottoming signal as it approaches 90 psychological level. On the upside, above 95.02 minor resistance will turn bias neutral and bring consolidations before staging another fall. |
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Orders and Options Watch | ||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: The single currency opened lower again after breaking recent low of 1.2162 last Friday, option barrier at 1.2100 and stops below there were triggered as euro dropped to an intra-day low of 1.2086 on renewed euro crisis concerns. At the moment, some bids are still noted at 1.2060-70 with next barrier reported at 1.2050 and more stops are expected below there but defensive bids should emerge above another barrier at 1.2000. On the upside, first offers are lowered to 1.2130-40 with some stops seen above 1.2150 but more selling interests are tipped at 1.2180-85 and also at 1.2200-10 with stop orders placed above 1.2230. | ||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||
Trade Idea: USD/CHF – Target met and buy again at 0.9865The greenback opened higher this morning after last week’s anticipated resumption of upmove and indicated psychological resistance was penetrated (our long entered at 0.9810 met target at 0.9900), bullishness remains for recent upmove to extend further gain to 0.9943 (61.8% projection of 0.8931-0.9771 measuring from 0.9424) and 0.9952 (50% projection of 0.9463-0.9872 measuring from 0.9747) Trade Idea: USD/JPY – Sell at 78.80Dollar’s selloff after breaking last week’s low at 78.42 signals recent decline is still in progress and further weakness towards previous support at 77.65 would be seen, however, near term oversold condition should prevent sharp fall below 77.50 and reckon 77.20-25 would hold from here, risk from there is seen for a rebound to take place 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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