Action Insight Market Overview	Markets Snapshot
Impact of Spain Downgrade Limited, Markets Consolidate Dollar is staying in tight range against major currencies for the moment as it's recovery lacks strength. Some support was seen on mild risk aversion after S&P downgraded Spain while Fitch warned of downgrade of some global banks. But the impact is rather limited so far. EUR/USD is around 1.37/8 level while GBP/USD is trading around 1.57/8. AUD/USD is also firm at around 1.01/02. Dollar index breaches 77 level again is possibly extending recent decline from 79.83 towards 76.06 support. We'd maintain our view that risk markets are losing momentum ahead of key resistance zone and would remain cautious on reversal signal ahead. But, it's not the time yet. Full Report Here...
Featured Technical Report
EUR/JPY Daily Outlook Daily Pivots: (S1) 105.19; (P) 105.87; (R1) 106.63; More With 4 hours MACD crossed below signal line, a temporary top is in place in EUR/JPY at 107.04, just ahead of 38.2% retracement of 117.74 to 100.74 at 107.23 and near term falling channel resistance. Intraday bias is turned neutral. On the downside, below 104.01 minor support will suggest that rebound from 100.74 has completed and will flip bias back to the downside for retesting this low. ON the upside, though, break of 107.04 will possibly bring stronger rally towards 61.8% retracement at 111.24. 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

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GMT Ccy Events Actual Consensus Previous Revised 23:50 JPY Domestic CGPI Y/Y Sep 2.50% 2.50% 2.60% 23:50 JPY Japan Money Stock M2+CD Y/Y Sep 2.70% 2.70% 2.70% 2:00 CNY CPI Y/Y Sep 6.10% 6.10% 6.20% 2:00 CNY PPI Y/Y Sep 6.50% 6.90% 7.30% 9:00 EUR Eurozone Trade Balance (EUR) Aug -1.1B -2.5B 9:00 EUR Eurozone CPI M/M Sep 0.80% 0.20% 9:00 EUR Eurozone CPI Y/Y Sep 3.00% 3.00% 9:00 EUR Eurozone CPI - Core Y/Y Sep 1.50% 1.20% 12:30 CAD Manufacturing Shipments M/M Aug 0.50% 2.70% 12:30 USD Import Price Index M/M Sep -0.40% -0.40% 12:30 USD Advance Retail Sales Sep 0.50% 0.00% 12:30 USD Retail Sales Less Autos Sep 0.20% 0.10% 13:55 USD U. of Michigan Confidence Oct P 60 59.4 14:00 USD Business Inventories Aug 0.40% 0.40%
Forex Trade Ideas
Next Ichimoku & Candlestick Trade Idea update will be made on Monday 17 Oct. 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 China CPI Comes In As Expected Singapore Eases Policy Despite Better Q3 GDP Data Asia Session Recap Daily Financial Market Outlook Spain Credit Rating Downgrade Weighing On 'Risk' Currencies US Retail Sales Report Key to Where S&P Risk-Rally Heads Next Technical Highlights Foreign Exchange Market Commentary Daily Forex Update: USD/DKK The Daily Wave Analysis GBP/JPY Attempting to Confirm a Double Bottom with a 124.30 Breakout Projection A$, Chance to Reshort