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Daily Report: Relief Rally in Stocks, Forex SteadyWall street staged a strong relief rebound overnight as traders perceived that the worst of the Crimea crisis didn't happen. DOW closed 181.55 pts, or 1.13% higher at 16247.22 while S&P 500 closed 17.7 pts, or 0.96% higher at 1858.83. Treasury yields also recovered with 30 year yield once again defended 3.565 support to close at 3.630. 10 year yield also recovered ahead of recent support at 2.579 and closed at 2.699. Dollar index, though, stay pressured and is trading below 79.4 for the moment. In the currency markets, yen was mildly lower as risk sentiments improved but overall, yen crosses stayed weak. Dollar was bounded in ranges against other major currencies. | |
Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.9025; (P) 0.9061; (R1) 0.9121; More... AUD/USD recovers after drawing some support from 4 hours 55 EMA. But it's staying below 0.9132 temporary top. And intraday bias stays neutral first. As the pair is still holding above 0.8890 support, near term outlook stays bullish for another rise. Above 0.9132 will extend the rebound from 0.8659 towards 61.8% projection of 0.86590 to 0.9080 from 0.8890 at 0.9150 will target 100% projection at 0.9311. However, break of 0.8890 will dampen our bullish view and turn focus back to 0.8659 low instead. |
Economic Indicators Update |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency has jumped in NY morning shortly after the release of US data, offers at 1.3910-20 were filled, some sell orders are still noted at 1.3950-60, 1.3980 and 1.4000 with more stops placed above sizeable barrier at 1.4000. On the downside, bids are now seen at 1.3900, 1.3870-75 and 1.3860, more buying interest is located at 1.3840-45 (stops below 1.3830) and further out at 1.3800-10, mixture of bids and stops is reported at 1.3780-90. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.8300Despite Friday's marginal rise to 0.8381, lack of follow through buying suggests consolidation would be seen before recent upmove resumes, hence bullishness remains for the rise from 0.8158 low to bring at least a strong retracement of recent decline to 0.8400-10 and later towards previous resistance at 0.8467, however, loss of near term upward momentum should prevent sharp move beyond latter level Trade Idea: USD/CAD - Buy at 1.1000The greenback is expected to remain confined within recent established range, this wave (iv) is probably developing into a triangle, however, downside should be limited to 1.1000 and bring another rise later, above resistance at 1.1154 would revive bullishness and bring test of 1.1194, then towards recent high of 1.1224. Having said that, only a break of this resistance would resumption of upmove for further gain to 1.1235-40 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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