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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Risk Aversion Receded, Sterling Tumbled The risk averse sentiments seen in Asia earlier today receded in European session with major equities indices trading mixed. FTSE and CAC are mildly higher while DAX hovers between gains and loss. The retreat in yen crosses were rather shallow with USD/JPY and EUR/JPY recovering mildly into US session. Nonetheless, Aussie remains soft on China trade data. Sterling suffered some steep selling as recent consolidation against dollar continues. Also, the pound was pressured by selloff against Euro as EUR/GBP's recent rebound from 0.8157 extends. The economic calendar in US session is rather light. Canadian housing starts rose to 192k in February. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6686; (P) 1.6736; (R1) 1.6766; More... GBP/USD drops sharply as today as consolidation from 1.6822 continues. Intraday bias remains neutral for the moment though as the price actions could be choppy in range. On the downside, below 1.6583 will bring deeper fall to 61.8% retracement of 1.6251 to 1.6822 at 1.6469. On the upside, decisive break of 1.6822 will confirm resumption of larger up trend from 1.4813 to 1.7043 key resistance next. 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
21:45	NZD	Manufacturing Activity Q4	6.30%		4.70%	6.20%
23:50	JPY	Current Account Total (JPY) Jan	-0.59T	-0.59T	-0.20T	0.07T
23:50	JPY	GDP Q/Q Q4 F	0.20%	0.20%	0.30%
23:50	JPY	GDP Annualized Q4 F	0.70%	0.90%	1.00%
23:50	JPY	GDP Deflator Y/Y Q4 F	-0.30%	-0.40%	-0.40%
05:00	JPY	Eco Watchers Survey: Current Feb	53	54.3	54.7
08:15	CHF	Retail Sales (Real) Y/Y Jan	0.30%	2.70%	2.30%	2.50%
09:30	EUR	Eurozone Sentix Investor Confidence Mar	13.9	14.3	13.3
12:15	CAD	Housing Starts Feb	192K	190K	180.2K

Orders and Options Watch

European Session: Orders and Options Watch

EUR: The single currency traded narrowly after Friday's choppy price action, offers are noted at 1.3900-15 are (some stops above 1.3920, more sell orders are expected at 1.3940-50, selling interest is tipped around 1.3985-1.4000 region with more stops placed above barrier at 1.4000. On the downside, bids are reported at 1.3850-60 with stops building up below 1.3850, buy orders are noted from 1.3820 down to 1.3800, more buying interest is located at 1.3780 and 1.3740-50 (stops below). Option expires today include: 1.3650, 1.3675, 1.3700, 1.3750, 1.3800, 1.3840, 1.3850 and 1.3900.

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Forex Trade Ideas

Trade Idea Update: EUR/USD - Buy at 1.3830

Although the single currency has recovered after finding support at 1.3852, Friday's retreat from 1.3915 suggests minor consolidation would be seen and another corrective fall to 1.3840-45 (38.2% Fibonacci retracement of 1.3721-1.3915) cannot be ruled out, however, reckon the upper Kumo (now at 1.3836) would limit downside and bring another rise later.

Trade Idea: EUR/JPY - Buy at 142.40

Last week's rally confirms our view that wave c has commenced and although price has retreated after surging to 143.79 on Friday, reckon pullback would be limited to 142.40-45 (38.2% Fibonacci retracement of 140.19-143.79) and bring another upmove later, above said resistance at 143.79 would extend recent a-b-c wave rise to 144.00