Short-Term Elliott Wave

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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Dollar Mildly up against Yen, Swissy after Strong ISM Manufacturing Manufacturing data is the main driver in the markets today. Risk appetite, as well as the greenback are given a boost by stronger than expected ISM manufacturing index. The index rose to 55.3 in May versus consensus of a fall to 51.5. Strength is seen broadly in most components, in particular with employment climbed from 58.2 to 59.9. The US recovery slowed a bit in Q2 but is possibly regaining momentum into Q3. DOW rose more than 100 pts with support from the data while the Japanese yen is broadly lower. Dollar is lifted mildly but there is no follow through selling so far. Full Report Here...
Featured Technical Report
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.8318; (P) 0.8391; (R1) 0.8477; More. USD/CHF rises sharply to as high as 0.8524 so far and intraday bias remains on the upside for 0.8550 resistance first. Break will put 55 days EMA (now at 0.8619) into focus. On the downside, though, below 0.8392 minor support will indicate that rebound from 0.8275 is possibly offer and will flip bias back to the downside for retesting this support. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update
GMT Ccy Events Actual Consensus Previous Revised 23:30 JPY Household Spending Y/Y May -1.90% -1.70% -3.00% 23:30 JPY Unemployment Rate May 4.50% 4.80% 4.70% 23:30 JPY Tokyo Core CPI Y/Y Jun 0.10% 0.20% 0.10% 23:30 JPY National Core CPI Y/Y May 0.60% 0.50% 0.60% 23:50 JPY Tankan Large Manufacturers Index Q2 -9 -7 6 23:50 JPY Tankan Non-Manufacturing Index Q2 -5 -4 3 01:00 CNY PMI Manufacturing Jun 50.9 51.5 52 07:30 CHF SVME-PMI Jun 53.4 57.8 59.2 08:00 EUR Eurozone PMI Manufacturing Jun F 52 52 52 08:30 GBP PMI Manufacturing Jun 51.3 52.3 52.1 09:00 EUR Eurozone Unemployment Rate May 9.90% 9.90% 9.90% 13:55 USD U. of Michigan Confidence Jun F 71.5 72 71.8 14:00 USD Construction Spending M/M May -0.60% 0.00% 0.40% 14:00 USD ISM Manufacturing Jun 55.3 51.5 53.5 14:00 USD ISM Prices Paid Jun 68 72 76.5
Forex Trade Ideas
Next Candlesticks and Ichimoku Trade Idea update will be made on Monday 4 July. 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: 1330 - 1400
Suggested Readings
Fundamental Highlights ISM Manufacturing Index Comes in Better Than Expected, USD Gains on EUR, JPY Chinese Manufacturing Activity Slows in June, Will AUD/USD Still Break its Month-Long Range? Swiss Franc Knocked off its Pedestal Japan's Tankan and US GDP London Session: Focus Turns Back To Economics Technical Highlights EUR/GBP Observes Bearish Divergence after Wave Equality Short-Term Elliott Wave Count for GBP/JPY; Double 3's Corrective Structure USD/CHF: From Short-term to Long-Term Wedge Patterns; 0.8555 is Critical EUR/USD's Triangle Scenario Based on Elliott Wave Structure Ones To Watch: EURCHF