Action Insight Market Overview	Markets Snapshot
European Majors Attempted to Recover, With Weak Strength European indices are generally lower today while US futures also point to lower open. But we're not seeing much strength in dollar and yen today. Indeed, yen retreated broadly without any notable reason. European majors recovered mildly with sterling being a bit stronger, as supported by inflation and housing data but strength is weak. So far, the current development still favors further rally in dollar and yen in near term. But we'd like to point out again that DOW is pressing a near term trendline support as well as the 55 weeks EMA. A recovery could be around the corner and might trigger deeper retreat in dollar and yen. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.5855; (P) 1.5885; (R1) 1.5906; More... GBP/USD recovered mildly today but is kept below 1.5957 minor resistance. Intraday bias remains no the downside and the choppy correction from 1.6309 would continue to 50% retracement of 1.5268 to 1.6309 at 1.5789. On the upside, above 1.6018 minor resistance will turn bias neutral and bring recovery. But break of 1.6174 is needed to confirm reversal. Otherwise, risk will remain on the downside. 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

Economic Indicators Update
GMT Ccy Events Actual Consensus Previous Revised 0:01 GBP RICS House Price Balance Oct -7% -15% -15% -14% 4:30 JPY Industrial Production M/M Sep F -4.10% -4.10% -4.10% 8:15 CHF Producer & Import Prices M/M Oct -0.10% 0.20% 0.30% 8:15 CHF Producer & Import Prices Y/Y Oct 0.40% 0.00% 0.30% 9:30 GBP PPI Input M/M Oct 0.40% -0.40% -0.20% -0.10% 9:30 GBP PPI Input Y/Y Oct 0.10% -0.50% -1.20% -1.00% 9:30 GBP PPI Output M/M Oct 0.10% 0.10% 0.50% 9:30 GBP PPI Output Y/Y Oct 2.50% 2.60% 2.50% 9:30 GBP PPI Output Core M/M Oct 0.10% 0.10% 0.30% 9:30 GBP PPI Output Core Y/Y Oct 1.40% 1.40% 1.20% 9:30 GBP CPI M/M Oct 0.10% 0.10% 0.40% 9:30 GBP CPI Y/Y Oct 2.70% 2.20% 2.20% 9:30 GBP Core CPI Y/Y Oct 2.70% 2.20% 2.10% 9:30 GBP RPI M/M Oct 0.60% 0.20% 0.50% 9:30 GBP RPI Y/Y Oct 3.20% 2.90% 2.60% 10:00 EUR German ZEW (Current Situation) Nov 5.4 8.7 10 10:00 EUR German ZEW (Econ Sentiment) Nov -15.7 -9 -11.5 10:00 EUR Eurozone ZEW (Econ Sentiment) Nov -2.6 0.2 -1.4 19:00 USD Monthly Budget Statement Oct -126.2B 75.0B
Orders and Options Watch
US Session: Orders and Options Watch GBP: The British pound also slipped again after intra-day brief bounce to 1.5916, mixture of bids and stops around 1.5840-50 is back in focus with more buying interests likely to emerge around 1.5810-20, followed by bigger stops below 1.5790-00. On the upside, indicated offers remain at 1.5915-20 with stops placed above there, more sell orders are tipped around 1.5940-50 as well as 1.5980-85 with mixtures of offers and stops tipped at 1.6010-20 and further out at 1.6040-50. Read more...
Forex Trade Ideas
Trade Idea Update: USD/CHF – Sell at 0.9540 As dollar has rebounded after intra-day retreat from 0.9513 to 0.9467, near term upside risk remains for recent rise from 0.9216 low to extend gain towards 0.9530-40, however, loss of momentum would prevent sharp move beyond there, bring retreat later, below the Ichimoku cloud bottom (now at 0.9464) would bring test of 0.9430 (Friday’s low), break would confirm temporary top is formed, bring weakness to 0.9400, then test of last week’s low of 0.9382 which is likely to hold from here. Read more... Trade Idea: AUD/USD – Hold long entered at 1.0370 Despite yesterday’s rebound to 1.0440, as aussie has retreated after failing to penetrate indicated resistance at 1.0445, suggesting consolidation would be seen but as long as last week’s low of 1.0359 holds, upside bias remains for another rise, break of said resistance would signal correction from 1.0480 has ended and add credence to our view that recent rise from 1.0149 is still in progress for further gain to 1.0500, above there would encourage for headway to 1.0525-30 but break of 1.0550-60 is needed to retain bullishness 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 Markets Focus on Greek Debt Auction Strong Prices Send GBPUSD Higher Germany Not Immune to EUR Troubles US: Wrap-up on the Fiscal Cliff Negotiations Clash In Brussels EUR/USD Drifting South Technical Highlights EUR/JPY Trying to Form a Small Double Bottom Can AUD/USD Stay Above 1.04? EUR/USD's Extended Bullish Divergence EURUSD - Under Bear Pressure, Sees Further Downside Momentum