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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Market Overview | Markets Snapshot |
Mid-Day Report: AUD, CAD Strong on Risk AppetiteAustralian and Canadian dollar are the strongest currencies today as risk appetites improved with easing concern in the nuclear crisis in Japan. Unresolved tensions in Libya also help support crude oil and gold. Major European indices extend rebound with FTSE up more than 1% while DAX and CAC 40 are up around 2%. US stocks are also set to open high on news that AT&T proposes to buy T-Mobile from Deutsche Telekom for USD 29b. Dollar remain generally soft with dollar index dropping lower to 75.53. Yen continues to consolidate in tight range against other major currencies. |
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| Featured Technical Report | |
EUR/USD Mid-Day OutlookDaily Pivots: (S1) 1.4045; (P) 1.4114 (R1) 1.4249; More. EUR/USD edges higher to 1.4191 and intraday bias remains on the upside for 1.4281 resistance first. Break will confirm that whole rebound from 1.1875 has resumed and should target 1.5143 medium term resistance next. On the downside, below 1.4090 minor support will turn bias neutral and bring consolidations. But outlook will remain bullish as long as 1.3751 support holds and we'd favor another rally after brief pull back. |
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Trade Idea Update: GBP/USD – Buy at 1.6210Current firmness after breaking indicated resistance at 1.6261 signals the rise from 1.5977 is still in progress and further gain to 1.6320 is likely, however, break of previous resistance at 1.6344 is needed to confirm early uptrend has finally resumed but loss of near term upward momentum should prevent sharp move beyond 1.6390/00. Trade Idea Update: EUR/USD – Buy at 1.4120As the single currency has maintained a firm undertone, suggesting recent upmove from 1.3752 is still in progress and may extend gain to 1.4230/40 but weakening of upward momentum should prevent sharp move beyond there and reckon previous chart resistance at 1.4282 (just below 1.618 times projection of 1.3752-1.4013 measuring from 1.3867 at 1.4289) would remain intact. 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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