 |
| 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: Dollar Soft ahead of FOMC, Sterling Rebounds on GDPDollar remains broadly weak as markets are awaiting FOMC rate decision and Bernanke's press conference today. US durable goods orders rose 2.5% in March with ex-transport orders up 1.3%, comparing to expectation of 2.2% and 1.7% respectively. There is little reaction to the data while dollar index recovers mildly after dipping to as low as 73.49 earlier today. Yen is generally weaker after S&P downgraded outlook of Japan's AA- local-currency government debt rating from stable to negative on costs for rebuilding after the natural disaster in March. |
|
| Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.6427; (P) 1.6479; (R1) 1.6528; More. GBP/USD's strong rebound today suggests that consolidations from 1.6598 might have completed at 1.6431 already, ahead of 4 hours 55 EMA as expected. Intraday bias is cautiously on the upside and break of 1.6598 will confirm rally resumption for 100% projection of 1.5935 to 1.6426 from 1.6166 at 1.6657 next and then 100% projection of 1.5343 to 1.6400 from 1.5935 at 1.6992, which is close to 1.7 psychological level and 1.7043 key resistance. On the downside, though, break of 1.6431 will dampen this bullish view and bring deeper decline towards 1.6166 support instead. |
| Special Reports |
Bernanke To Re-shape Thinking At The First FOMC Press BriefingThe April FOMC meeting will unlikely contain any surprise in monetary policies, i.e. the Fed funds rate will stay a 0-0.25% and the asset-buying program will be maintained at $600B with expiry in June. The focus is on the first post-meeting press briefing at which Chairman Ben Bernanke will attempt to shape market expectations on inflation and monetary outlook. The briefings will be held 4 times a year and are scheduled to coincide with the updates of economic forecasts. RBNZ To Stand Aside After Cutting In MarchThe RBNZ will leave the OCR unchanged, after cutting it by -50 bps to 2.5% last month, at the April meeting. Economic indicators appeared to have gradually recovered from the earthquake in February. Yet, more evidence in coming months is needed to prove the situation has improved. Meanwhile, benign underlying inflation also bought time for the central bank to take a wait-and-see approach and leave the monetary stance unchanged. Governor Alan Bollard will also clarify his comments made last week on exchange rates. |
| Economic Indicators Update | The Traders Expo provides a chance to take a productive step back from the trading screen and look at the overall markets from a broader perspective. Join your fellow traders at The Traders Expo Dallas and experience it for yourself. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: GBP/USD –Buy again at 1.6510As the British pound has staged a strong rebound after holding above yesterday's low at 1.6432 and broke above indicated resistance at 1.6570 in part due to the release of UK GDP data, suggesting the correction from 1.6600 has ended at 1.6432 and recent upmove should resume, bring retest of 1.6600, break there would extend gain to 1.6620 and later towards 1.6655/60 Trade Idea Update: USD/JPY – Buy at 81.80As the greenback has maintained a firm undertone after breaking the Ichimoku cloud top, adding credence to our view that temporary low has possibly been formed at 81.27 and consolidation with upside bias remains for a test of this week's high at 82.44, break there would suggest the decline from 85.53 top has ended and then headway to 82.80 would follow. Looking ahead, only break of resistance at 83.10 would retain bullishness 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