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Action Insight Market Overview	Markets Snapshot
USD/JPY Surges on Jobless Claims, Euro & Sterling Recover after Central Banks on Hold After initial dip, Euro recovers against dollar on strong bond auction in Spain and as ECB left rates unchanged at 0.75%. Sterling also recovers against dollar after BoE stand pat. But the biggest mover is found is the Japanese yen which suffers another round of selloff in crosses. And, USD/JPY also jumps through recent resistance of 94.55 after initial jobless claims unexpectedly dropped to 340 in the week ended March 3. Other data released in US session saw US trade deficit came in larger than expected at USD -44.4b in January, no-farm productivity was revised higher to -1.9% in Q4. Canada trade deficit came in narrower than expected at CAD -0.2b in January while building permits rose 1.7% mom. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 93.33; (P) 93.72; (R1) 94.45; More.. USD/JPY jumps to 94.64 so far in early US session and the break of 94.55 resistance argues that recent rally is resuming. intraday bias is on the upside for 95 psychological level. Sustained trading above there will pave the way too 100 psychological level next. On the downside, below 93.78 minor support will flip bias back to the downside and would probably extend the consolidation from 94.55 with another decline. 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 00:30 AUD Trade Balance (AUD) Jan -1.06B -0.51B -0.43B -0.69B 03:45 JPY BoJ Decision 0.10% 0.10% 0.10% 05:00 JPY Leading Index Jan P 96.3 96.2 93.4 93.2 06:45 CHF Unemployment Rate Feb 3.10% 3.10% 3.10% 08:00 CHF Foreign Currency Reserves Feb 427.7B 427.0B 429.5B 11:00 EUR German Factory Orders M/M Jan -1.90% 0.60% 0.80% 12:00 GBP BoE Rate Decision 0.50% 0.50% 0.50% 12:00 GBP BoE Asset Purchase Target Mar 375B 375B 375B 12:30 USD Challenger Job Cuts Y/Y Feb 7.00% -24.40% 12:45 EUR ECB Rate Decision 0.75% 0.75% 0.75% 13:30 EUR ECB Press Conference 13:30 USD Trade Balance Jan -44.4B -42.8B -$38.5B 13:30 USD Non-Farm Productivity Q4 F -1.90% -1.50% -2.00% 13:30 USD Unit Labor Costs Q4 F 4.60% 4.20% 4.50% 13:30 USD Initial Jobless Claims (MAR 3) 340K 356K 347K 13:30 CAD Trade Balance (CAD) Jan -0.2B -0.6B -0.90B 13:30 CAD Building Permits M/M Jan 1.70% 5.40% -11.20% 15:30 USD Natural Gas Storage -171B
Orders and Options Watch
US Session: Orders and Options Watch EUR: Despite initial brief drop when ECB's Draghi started his speech, the single currency has quickly rebounded from there to fresh weekly high as traders digest the context of his speech, offers at 1.3040-50 and 1.3070-75 were filled, stops at 1.3080 were tripped but offers are still seen at 1.3090-00 with more stops placed above 1.3105 and also at 1.3150 but fresh offers should emerge around 1.3140-50. On the downside, bids are now seen around 1.3040-50 and also at 1.2990-00 with stops now tipped below 1.2980, mixture of bids and stops remains at 1.2955-65, more stops placed below barriers at 1.2950 and 1.2900. Read more...
Forex Trade Ideas
Trade Idea Update: USD/CHF – Buy again at 0.9405 Despite intra-day marginal rise to 0.9489, lack of follow through buying and current retreat on intra-day rebound in euro suggest consolidation below this level would be seen and risk has increased for pullback to 0.9425-30, however, break there is needed to signal a temporary top is formed instead and risk corection towards 0.9395-00 support where renewed buying interests should emerge and bring another upmove. Above said resistance at 0.9489 would extend recent upmove from 0.9024 low to 0.9500-10 Read more... Trade Idea: USD/CAD – Buy at 1.0220 Despite yesterday’s rebound to 1.0337, as the greenback has retreated after faltering below last week’s high of 1.0343, retaining our view that near term sideways trading would continue and initial downside risk remains for pullback to 1.0212-17 (38.2% Fibonacci retracement of 0.9999-1.0343 and previous support), however, renewed buying interests should emerge around this previous 4th of a lesser degree and bring another upmove, above said resistance would signal recent upmove has resumed 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 Japan: BoJ on Hold, New Leadership to Decide Easing Strategy What Can We Expect From The ECB's Euro? All Eyes On BoE And ECB Technical Highlights Tracking The EUR/USD, GBP/USD Pairs GBPUSD - Resumes Broader Weakness USD/JPY Up On New BoJ Management