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Action Insight Market Overview	Markets Snapshot
Daily Report: Focus Turns to Canadian Inflation and Retail Sales Markets absorbed the hawkish Fed announcement rather quickly as Wall Street staged a rebound overnight. DOW closed 108.88 pts or 0.67% higher at 16331.05 while S&P 500 closed 11.24 pts, or 0.60% higher at 1872.01. Long term yields ended mixed and seemed there was no follow through upside momentum yet. Gold also recovered mildly after diving to as low as 1320.8. Dollar index pared back some gains but is holding well above 80 handle for the moment. In the currency markets, the greenback retreated mildly against other major currencies. Technically, it should be noted that USD/CAD is clearly bullish. However, the greenback is still technically in short term down trend against Euro, Swiss Franc and Aussie. These pairs are holding on to 1.3642 support in EUR/USD, 0.8895 resistance in USD/CHF and 0.8890 support in AUD/USD. Full Report Here...
Featured Technical Report
USD/CAD Daily Outlook Daily Pivots: (S1) 1.1222; (P) 1.1250; (R1) 1.1266; More... Intraday bias in USD/CAD remains on the upside for the moment as recent rally continues. The uptrend from 0.9633 is expected to extend to 61.8% projection of 1.0181 to 1.1223 from 1.1024 at 1.1668, which is close to the next long term fibonacci level. On the downside, below 1.1198 minor support will turn bias neutral and bring consolidations. But downside should be contained above 1.1024 support and bring another rise. 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
23:00	AUD	Conference Board Leading Index Jan	0.20%		0.80%
9:00	EUR	Eurozone Current Account (EUR) Jan		18.4B	21.3B
9:30	GBP	Public Sector Net Borrowing (GBP) Feb		7.9B	-6.4B
12:30	CAD	Retail Sales M/M Jan		0.80%	-1.80%
12:30	CAD	Retail Sales Less Autos M/M Jan		0.90%	-1.40%
12:30	CAD	CPI M/M Feb		0.60%	0.30%
12:30	CAD	CPI Y/Y Feb		0.90%	1.50%
12:30	CAD	BoC CPI Core M/M Feb		0.50%	0.20%
12:30	CAD	BoC CPI Core Y/Y Feb		1.10%	1.40%
15:00	EUR	Eurozone Consumer Confidence Mar A		-12.3	-12.7

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency dropped again today in European session, bids at 1.3800-10 and 1.3780-90 were cleared, however, some buy orders are still noted at 1.3750, fresh buying interest is tipped at 1.3720-30 and further out at 1.3700. On the upside, offers are lowered to 1.3800, 1.3820 and in good size at 1.3840-45 with stops building up above 1.3855-60, more sell orders are located at 1.3880 and in good size at 1.3900-15.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8300

Euro's retreat after rising to 0.8400 earlier this week has retained our view that minor consolidation would be seen and pullback to 0.8320 is likely, however, renewed buying interest should emerge around 0.8300 and bring another upmove later, above said resistance would extend the rise from 0.8158 low for at least a strong retracement of recent decline to 0.8425-30 and later towards previous resistance at 0.8467

Trade Idea: USD/CAD - Buy at 1.1180

As the greenback has maintained a firm undertone after rallying above recent high of 1.1224, adding credence to our view that recent triangle wave (iv) consolidation has ended at 1.1026 and wave (v) is unfolding for further gain to 1.1300 but overbought condition should limit this wave (v) of of wave iii to 1.1350 and reckon price would falter well below 1.1400.