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| Action Insight Market Overview | Markets Snapshot |
Markets Steady, But Dollar Struggles to ReboundSentiments are in Asia today as markets catch up with Friday's advance in US equities and opened broadly higher. Statement from G20 affirmed that world leaders are determined to solve the European debt crisis from spreading as a deadline is explicitly set for Europe to deliver a plan. But the boost the markets is minimal as European leaders are known to dissent among each other and the plan is still far from being finalized. Dollar is trying to recover but lacks momentum. Canadian dollar is the relatively stronger currency in an otherwise dull market as crude oil is trying to extend recent gains.Full Report Here... |    |
| Featured Technical Report | |
EUR/AUD Daily OutlookDaily Pivots: (S1) 1.3373; (P) 1.3455; (R1) 1.3498; More.Intraday bias in EUR/AUD remains on the downside with 1.3557 minor resistance intact. Rebound from 1.3022 should have completed at 1.4086 already and current fall from there is heading back to retest 1.3022 support. On the upside, above 1.3557 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited by 1.3775 resistance and bring another fall. Read more... |
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Trade Idea: EUR/USD – Buy at 1.3760As the single currency has maintained a firm undertone after last week’s rally, suggesting recent rise from 1.3145 low is still in progress and further gain to 1.3900 would be seen, however, weakening of near term upward momentum should prevent sharp move beyond 1.3950/60 and price should falter well below psychological resistance at 1.4000 and risk from there has increased for a much needed correction later.Read more... Trade Idea: USD/JPY – Buy at 76.50Although the greenback bounced again last Friday to as high as 77.45, as dollar faltered below previous resistance at 77.49 and has retreated, suggesting further choppy consolidation would take place and weakness to the Ichimoku cloud (now at 76.91-92) is likely, however, downside should be limited to support at 76.67 and support at 76.31 (last week’s low) should hold, bring another rebound later.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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
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