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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: Markets Stabilize after Volatility, Yen and Euro DominateAfter enormous volatility in the early part of the day, markets are stabilizing into US session. European majors are generally firm as boosted by the EU news over the weekend. Meanwhile, Aussie and Kiwi are weak on risk aversion as global equities are generally lower after Japanese historical earthquake. Yen is struggling to find a clear direction after much volatile as repatriation and risk aversion are countered by BoJ's liquidity injection. Dollar is mixed too while crude oil crude oil struggles below 100 level and hits two weeks low while gold recovers to above 1430. |
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| Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.6009; (P) 1.6047; (R1) 1.6118; More. GBP/USD's recovery from 1.5976 extends further today and reaches 1.6120 so far. As noted before, with 1.5962 cluster support (38.2% retracement of 1.5343 to 1.6343 at 1.5961) intact, there is no confirmation of reversal yet. Further rise could be seen towards 1.6434 high. Though, break there is needed to confirm rally resumption or we'll stay neutral and expect more consolidations. On the downside, break of 1.5962 cluster support will confirm that whole rise form 1.5343 is finished and deeper decline should be seen to trend line support (now at 1.5731). Also, note that sustained trading below the mentioned trend line will indicate that whole rally from 1.4230 is completed and should bring deeper decline through 1.5343 support. |
| Special Reports |
BOJ Inject Money To Financial MarketsThe Bank of Japan announced to inject additional liquidity to the financial system in an attempt to curb the negative impacts of the 9.0-magnitude earthquake that struck the country last week. The central bank will inject a record 15 trillion yen of emergency funds to the market as it is unable to respond with a reduction in the policy rate which has been staying at virtually 0%. In addition, the BOJ offered to by 3 trillion yen of government bonds from lenders in repo agreements from March 16. EU Summit - A Pleasant Surprise on Agreements ReachedThe summit held by EU financial leaders last Friday was a constructive one. Agreements were reached before the full EU summit on March 24/25 and the outcomes should be positive for the euro, at least in the near-term. In shorts, adjustments were made on the size of the EFSE, assets the facility is allowed to buy, interest rates and maturities of loans to Greece. Meanwhile, the 'Pact for the Euro' was designed to improve policy coordination, enhance competitiveness, achieve greater convergence and build confidence for the Eurozone. |
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Trade Idea Update: GBP/USD – Buy at 1.6045Cable's breach of intra-day resistance at 1.6100 adds credence to our view that low has been formed at 1.5977 last week and further consolidation above this level would take place with mild upside bias for retracement of last week's selloff to the Ichimoku cloud top (now at 1.6135) but reckon upside would be limited to 1.6160 (50% Fibonacci retracement of 1.6342 to 1.5977) and price should falter well below resistance at 1.6244. Trade Idea: EUR/JPY – Sell again at 115.00The single currency dropped last Friday in line with our expectation and our short position entered at 115.00 met target at 113.50 (with 150 points profit), price then tumbled to as low as 112.49 this morning, however, as euro then staged a strong rebound from there, suggesting further consolidation would take place and recovery to 115.00 cannot be ruled out but 115.27 should cap upside, bring another decline later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
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