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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 |
Mid-Day Report: Sterling Dives after BoE Minutes and Job DataSterling dives sharply today as after BoE minutes and disappointing job market data. The minutes of May 5 BoE meeting revealed 6-3 vote split to left rates unchanged at 0.5%. The split was as market expected with Sentance maintaining his call fro 50bps hike while Dale and Weale voted for 25bps hike. Posen continued his call for additional asset purchase. One important point to note is that Dale and Weale, this time, said that the decision was finely balanced, arguing that they're now less hawkish than before. Claimant count in UK unexpectedly rose 12.4k in April even though unemployment rate dropped to 7.7% in March. GBP/USD drops through 1.6146 support to resume recent decline from 1.6744 after that data. GBP/JPY is also back pressing 131 level. |
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| Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.6182; (P) 1.6242; (R1) 1.6311; More. GBP/USD's break of 1.6146 indicates that recent decline from 1.6744 has resumed. Intraday bias is back on the downside and further decline should now be seen towards 1.5935 key near term support next. On the upside, break of 1.6300 resistance is needed to signal short term bottoming. Otherwise, outlook will remain bearish even in case of recovery. |
| Economic Indicators Update |
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Remark: No update on Candlestick and Ichimoku Trade Idea tomorrow, next update will be made on Thursday 19 May. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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