Action Insight Market Overview	Markets Snapshot
Dollar Steady after Weak Durables, Euro Weakness Limited Despite Ifo Markets are relatively steady today. Even though Euro dipped mildly following Germany Ifo, there was no follow through selling so far and EUR/USD is still struggling around 1.3 psychological level. Yen traders are clearly hesitating to sell if further ahead of Friday's BoJ announcement. BoJ is expected to publish inflation forecast after the meeting and would likely trigger some volatility in yen. Dollar is also stuck in range and had little reaction to the weak durable goods report. Headline durables dropped -5.7% in March versus expectation of -2.8%. Ex-transport orders also dropped -1.4% versus consensus of 0.5% growth. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 98.76; (P) 99.15; (R1) 99.82; More... USD/JPY is staying in tight range below 99.94 and intraday bias remains neutral. As discussed before, consolidation from 99.94 could still extend further with another fall. Below 98.48 will turn bias to the downside for deeper retreat. But in that case, downside should be contained by 95.74 and bring rebound. Eventually, rise from 77.13 is expected to resume later and break of 100 psychological level to 161.8% projection of 77.13 to 96.70 from 92.56 at 104.65. 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 21:00 NZD RBNZ Rate Decision 2.50% 2.50% 2.50% 23:50 JPY Corporate Service Price Y/Y Mar -0.20% -0.40% 0.10% 0.00% 01:30 AUD CPI Q/Q Q1 0.40% 0.70% 0.20% 01:30 AUD CPI Y/Y Q1 2.50% 2.80% 2.20% 01:30 AUD CPI RBA Trimmed Mean Q/Q Q1 0.30% 0.50% 0.60% 01:30 AUD CPI RBA Trimmed Mean Y/Y Q1 2.20% 2.40% 2.30% 01:30 AUD CPI RBA Weighted Median Q/Q Q1 0.30% 0.50% 0.60% 01:30 AUD CPI RBA Weighted Median Y/Y Q1 2.60% 2.40% 2.30% 06:00 CHF UBS Consumption Indicator Mar 1.25 1.26 08:00 EUR German IFO - Business Climate Apr 104.4 106.5 106.7 08:00 EUR German IFO - Current Assessment Apr 107.2 109.4 109.9 08:00 EUR German IFO - Expectations Apr 101.6 103.2 103.6 08:30 GBP BBA Mortgage Approvals Mar 31.2K 31.2K 30.5K 30.6K 10:00 GBP CBI Reported Sales Apr -1 7 0 12:30 USD Durable Goods Orders M/M Mar -5.70% -2.80% 5.70% 12:30 USD Durables Ex Transportation M/M Mar -1.40% 0.50% -0.50% 14:30 USD Crude Oil Inventories -1.2M
Orders and Options Watch
US Session: Orders and Options Watch EUR: Although the single currency rebounded initially in European morning on news out of Italy, soft German data put pressure on euro and bids at 1.2975-80 were filled, however, bids are still noted at 1.2950-55 (for protection of 1.2950 barrier), mixture of bids and stops remains at 1.2940-50 and buying interest is tipped further out at 1.2920 and 1.2900 with more stops placed below 1.2890-00. On the upside, offers are reported at 1.3040-50, more selling interest is located at 1.3080-85 with stops building up above 1.3090-1.3100, sizeable sell orders remain at 1.3120-30 and also 1.3150 with some stops placed above 1.3155-60. Read more...
Forex Trade Ideas
Trade Idea Update: USD/JPY - Buy at 98.70 Despite yesterday's fall to 98.48, as the greenback found renewed buying interest there and again after FOMC, suggesting bullishness remains for a retest of 99.90-100.00 level, however, a firm break of this psychological level is needed to retain bullishness and extend medium term upmove to 100.39 (2.618 times extension of 75.31-84.19 measuring from 77.14) and possibly towards 100.50 which is likely to hold on first testing due to loss of near term upward momentum. Read more... Trade Idea: AUD/USD – Buy at 1.0200 Although aussie has rebounded after falling to 1.0221 yesterday, as long as resistance at 1.0358 holds, near term downside risk remains for the fall from 1.0583 to extend one more fall to 1.0199 (previous support and 61.8% projection of 1.0583-1.0291 measuring from 1.0400), however, this diagonal triangle kind of minor wave v should be limited to 1.0150-60 and bring another rebound later. A break of said resistance at 1.0358 would suggest low is possibly formed 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 Don't Overreact to the Big Drop in Durable Goods Orders U.S. New Orders for Durable Goods Dropped Sharply in March after a Surge in February EUR/USD - Fluctuating After More Weak German Numbers GBP: Ideas For The Q1 GDP Report Technical Highlights AUD/CAD - Double Top Complete GBP/USD Continues to Consolidate above a Rising Channel Support AUDNZD On The Cusp Of Major Downtrend EURUSD - Bear Threats Yet To Be Over