Action Insight Market Overview	Markets Snapshot
IMF's New Credit Line Ignored, Risk Selloff Continues on China Manufacturing Data Dollar remains firm today as markets are still dominated by risk aversion. IMF announced over night a set of measures to offer short-term credits as insurance for nations. That helped stabilized sentiments a bit. But markets were then sold off again as data from China showed the manufacturing sector might contract in near term. EUR/USD is staying in tight range but remained soft and vulnerable to a break of 1.34 level. Aussie remains the weakest currency this week on risk aversion, and on it's strong tie to China, where the stock markets dropped for the longest losing streak since May. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.9800; (P) 0.9850; (R1) 0.9886; More AUD/USD drops further to as low as 0.9750 so far and intraday bias remains on the downside for further decline. As noted before, whole rebound from 0.9387 is completed at 1.0752 and current fall from there is targeting a retest on this low. On the upside, above 0.9894 minor resistance will turn bias neutral and bring consolidations. But break of 1.0202 support turned resistance is need to signal completion of such fall. Otherwise, outlook will remain cautiously bearish in near term. 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 23:00 AUD Conference Board Leading Index Sep 0.10% -0.10% -0.20% 2:30 CNY HSBC Manufacturing PMI Nov A 48 51.1 51 8:00 EUR French PMI Manufacturing Nov P 47.6 48.5 8:00 EUR French PMI Services Nov P 44.5 44.6 8:30 EUR German PMI Manufacturing Nov P 48.2 49.1 8:30 EUR German PMI Services Nov P 50 50.6 9:00 EUR Eurozone PMI Manufacturing Nov P 46.5 47.1 9:00 EUR Eurozone PMI Services Nov P 46 46.4 9:30 GBP BoE Minutes 0--0--9 0--0--9 10:00 EUR Eurozone Industrial New Orders M/M Sep -2.50% 1.90% 13:30 USD Durable Goods Orders Oct -1.00% -0.80% 13:30 USD Durables Ex Transportation Oct 0.00% 1.70% 13:30 USD Personal Income Oct 0.30% 0.10% 13:30 USD Personal Spending Oct 0.30% 0.60% 13:30 USD PCE Deflator Y/Y Oct 2.90% 13:30 USD PCE Core M/M Oct 0.10% 0.00% 13:30 USD PCE Core Y/Y Oct 1.70% 1.60% 13:30 USD Initial Jobless Claims 387K 388K 14:55 USD U. of Michigan Confidence Nov F 64.5 64.2 15:30 USD Crude Oil Inventories -0.3M -1.1M 17:00 USD Natural Gas Storage 19B
Orders and Options Watch
European Session: Orders and Options Watch EUR: The single currency dropped again this morning in Asia on risk aversion and rising European countries’ bond yields, U.S. and Asian names were seen selling the pair quite actively, although some fair size bids are noted at 1.3445/50, sizeable buy orders only emerging around 1.3420-30 with big stops remain below 1.3420 and 1.3400 option barrier. On the upside, offers from same parties are reported at 1.3490-00, 1.3530 and 1.3560-70 with stops building up above latter level but mixture of offers and stops remains at 1.3610-20. Read more...
Forex Trade Ideas
Trade Idea: EUR/USD – Sell at 1.3545 Despite yesterday’s rebound to 1.3568, the single currency ran into heavy offers there and retreated quite sharply, suggesting a retest of recent low at 1.3421 cannot be ruled out, however, break there is needed to signal decline from 1.4248 top has resumed and extend weakness to 1.3400 and possibly towards 1.3370/75 (61.8% projection of 1.3815-1.3421 measuring from 1.3615) but reckon 1.3343 (61.8% projection of 1.4248-1.3484 measuring from 1.3815) would hold Read more... Trade Idea: USD/CHF – Buy at 0.9100 Despite intra-day brief bounce to 0.9165, as the greenback has retreated after faltering below the Ichimoku cloud top, retaining our view that near term downside risk remains for the retreat from 0.9209 to bring marginal weakness, however, as broad outlook is still consolidative, support at 0.9086 should hold and bring another rebound later. Above the upper Kumo (now at 0.9175) would bring a stronger rebound to yesterday’s high of 0.9187 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 Portugal May Need More Help Asia Session: Risk Runs Lower China's Flash PMI Data Hits A 32-Month Low, Risk Under Pressure IMF Loosen Purse Strings, Dexia Threatens France AAA Rating Preview: After FOMC Minutes, Mix Of US Data Tomorrow (Orders, Claims, Spending, Confidence) IMF Streamlines Access to Credit Lines November Minutes Shed Little Light on Fed Policy Going Forward U.S. Highlights of the Minutes from the November 1-2 FOMC Meeting Technical Highlights EURUSD - Bearish Below 1.3505 European FX Report: AUD/USD The Daily Forecaster: GBPUSD MACD (1-hr) Trend-Line Break Suggests S/T AUD/USD Long Value AUD/JPY Bearish Channel and EW Count