| 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 |
Mid-Day Report: Euro Softened as ECB Played Down Yield Cap RumorEuro dipped mildly today after ECB downplayed weekend's rebound on the central bank's plan to cap bond yields inside Eurozone. Nonetheless, loss is limited so far as EUR/USD stays in familiar range. According to the German newspaper Der Spiegel, the ECB would decide at the September meeting on setting limits on yields of Eurozone sovereign debts through unlimited bond purchases. However, an ECB spokesman plainly said that "it is absolutely misleading to report on decisions, which have not yet been taken and also on individual views, which have not yet been discussed by the ECB's Governing Council." It should be noted that for the plan to materialize, ECB would need to be prepared to buy all of Spain and Italy's present and future debt. Therefore, this would only be the last resort for the ECB. We caution that discussion about the matter does not mean members would agree on it. |
|
| Featured Technical Report | |
EUR/USD Mid-Day OutlookDaily Pivots: (S1) 1.2285; (P) 1.2333 (R1) 1.2379; More..... Intraday bias in EUR/USD remains neutral as sideway trading continues. Below 1.2255 minor support will bring deeper retreat. But still, as long as 1.2133 support holds, rebound from 1.2042 is expected to resume sooner or later. Above 1.2443 will target 1.2747 (50% retracement of 1.3486 to 1.2042 at 1.2764). On the downside, break of 1.2133 will suggest that rebound from 1.2042 is merely a correction and has completed. In such case, EUR/USD should head for a retest on 1.2 psychological level again. |
| 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 | ||||||||||||||
US Session: Orders and Options WatchEUR: The single currency went through some choppy Asian and European sessions, despite rising to 1.2368, euro ran into heavy offers from European names and slipped to day’s low of 1.2296. however, bids are still noted above Friday’s low of 1.2289 with stops placed below 1.2280 but buying interests from Asian and Middle East names are expected at 1.2255-60 with mixtures of bids and stops located further out at 1.2240 and 1.2210-20. On the upside, offers remain from 1.2370 all the way up to 1.2400and more selling interests from funds are tipped further out at 1.2440-50 (related to barrier at 1.2450) with bigger stops placed above there. | ||||||||||||||
| Forex Trade Ideas | ||||||||||||||
Trade Idea Update: USD/JPY – Buy at 78.90Although dollar’s intra-day rise to 79.66 suggests recent upmove is still in progress and gain towards indicated resistance at 79.97-80.00 would be seen, loss of near term upward momentum should prevent sharp move beyond previous chart resistance at 80.10 and risk from there has increased for a correction to take place later, below the Ichimoku cloud top (now at 79.34) would bring pullback to the lower Kumo (now at 79.04) but support at 78.60 should hold, bring another rally later. Trade Idea: EUR/JPY – Buy at 97.50As the single currency has maintained a firm undertone after breaking indicated resistance at 97.82, adding credence to our bullish view that a temporary low has been formed at 94.12 earlier and upside bias remains for a stronger retracement of recent decline to 98.75-80 (61.8% Fibonacci retracement of 101.63-94.12), then towards 99.10-20, however, reckon upside would be limited and price should falter well below psychological resistance at 100.00. 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