Dollar Extends Rally as Crash in Metals and Stocks Continue |
| Action Insight Market Overview | Markets Snapshot |
Dollar Extends Rally as Crash in Metals and Stocks ContinueDollar extends recent rally and rises broadly as the week starts as risk aversion continues to dominate the markets. Investors' sentiments received no boost from the week's IMF/World Bank annual meeting as policymakers are divided on what to do on tackling the current crisis. PBoC Governor Zhou's comment over the weekend reflected that China is still deeper concerned with inflation and sends China stocks to lowest level since July 2010. Aussie and Kiwi are hardest hit today, by the crash in precious metal markets as well as wider than expected trade deficit from New Zealand.Full Report Here... |    |
| Featured Technical Report | |
EUR/JPY Daily OutlookDaily Pivots: (S1) 102.47; (P) 103.09; (R1) 103.95; MoreEUR/JPY's fall resumes after brief consolidations and dips to as low as 101.93 so far. Intraday bias is back on the downside for 100 psychological level first and then next near term target at 100% projection of 111.93 to 103.88 from 106.98 at 98.93. On the upside, above 103.75 minor resistance will turn bias neutral again and bring consolidations. But recovery should be limited by 106.98 resistance and bring fall resumption. Read more... |
| Economic Indicators Update |  The Futures and Forex Expo Las Vegas, June 15-18, 2011 at Caesars Palace. Register now and prepare for three days that will get you on track for a profitable future! Register FREE today!  Top trading expert speakers, analysts and exhibitors. Discover the Newest Comer to the market, analyze latest market trends explore different trading platforms, and explore a wide opportunity on future investments. The 9th ME Forex & Investment Summit 2011  World MoneyShow Toronto, September 8-10, 2011, at The Metro Toronto Convention Center. Your one-stop resource for the most comprehensive education, efficient research, and valuable advice. Register Free Today!  World MoneyShow Vancouver, September 19-21, 2011, at The Vancouver Convention Center. Be there as recommendations and advice are revealed for how to best position your portfolio for profit - in 2011 and beyond. Register Free Today!   | |||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: The single currency dropped sharply early this morning after meeting renewed selling below resistance at 1.3567, took out stops below 1.3400-10 and 1.3380. Some banks published new analysis reports and revised year-end target for EUR/USD down to 1.25, more stops are tipped below 1.3350 and 1.3300 with some bids seen above these levels. On the upside, offers from U.S. funds are lowered to 1.3430-50 area and also at 1.3490-00 with some stops seen at 1.3500, mixtures of offers and stops (large) are likely to emerge around 1.3560-70 and 1.3590-00. Option expires include 1.3325 (100 mln), 1.3500 (100 mln), 1.3550 (100 mln) and 1.3555 (200 mln).Read more... | ||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||
Trade Idea: GBP/USD – Sell at 1.5575Although the British pound retreated after this morning’s brief bounce to 1.5519, below 1.5390 is needed to signal top is possibly formed and bring test of 1.5370/75, otherwise, further consolidation would take place. Above said resistance would bring retracement to 1.5535-37 (current level of the Ichimoku cloud bottom and 50% Fibonacci retracement of 1.5747-1.5326) but renewed selling interest should emerge there and bring another decline later.Read more... Trade Idea: USD/JPY – Hold long entered at 76.36Despite Friday’s late surge to 76.89, as the greenback has retreated sharply after failing to test previous strong resistance at 76.97-00, suggesting caution on our long position entered last week at 76.36 and support at 76.10 needs to hold to retain our mild upside bias for another rebound later towards said strong resistance at 76.97-77.00.Read more... 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: 1430 - 1500 | ||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | ||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
| ||||||||||||||||||||||||||||||||||||||||||
No comments:
Post a Comment