Action Insight	Candlesticks Trades	Markets Summary	Action Bias	Top Movers	Daily Technicals
Calendar	Elliott Wave Trades	Markets Volatility	Pivot Points	Heat Map	Daily Fundamentals

Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sterling Remains Pressured after BoE Carney Sterling remains the weakest currency this week so far after BoE governor Carney spoke in the hearing of Treasury select committee today. He noted that spare capacity in UK is at the "upper end" of the range of 1-1.5% or even higher. He also reiterated that when rate hikes comes, the process would be "gradual" and the degree increase would be "limited". That is, he qualified that UK will be "living in extraordinary times a few years down the road". Meanwhile, he referred to Bean's comment yesterday and said it's not unreasonable to "get across a 2-2.5% bank rate over the course of the forecast horizon. Carney also said that unwinding of QE should "should occur after several adjustments in interest rates." In contrast external member of MPC Weale said the amount of spare capacity was overstated and is "something under 1%". Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6596; (P) 1.6668; (R1) 1.6715; More... The consolidation from 1.6822 is still in progress as GBP/USD extends lower today. Intraday bias is mildly on the downside for 1.6583 support and below. But the structure suggests that strong support would be seen at 50% retracement of 1.6251 to 1.6822 at 1.6537 to contain downside and complete the consolidation. On the upside, above 1.6652 minor resistance will turn bias neutral first. Break of 1.6785 will likely extend larger rally from 1.4813 through 1.6822 towards 1.7043 key resistance. 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
23:50	JPY	Japan Money Stock M2+CD Y/Y Feb	4.00%	4.40%	4.40%	4.30%
0:01	GBP	BRC Sales Like-For-Like Y/Y Feb	-1.00%		3.90%
0:30	AUD	NAB Business Confidence Feb	7		8	9
3:00	JPY	BoJ Rate Decision
6:00	JPY	Machine Tool Orders Y/Y Feb P	26.00%		40.30%
7:00	EUR	German Trade Balance (EUR) Jan	17.2B	19.3B	18.5B	18.3B
9:30	GBP	Industrial Production M/M Jan	0.10%	0.20%	0.40%	0.50%
9:30	GBP	Industrial Production Y/Y Jan	2.90%	3.00%	1.80%	1.90%
9:30	GBP	Manufacturing Production M/M Jan	0.40%	0.30%	0.30%	0.40%
9:30	GBP	Manufacturing Production Y/Y Jan	3.30%	3.30%	1.50%	1.40%
14:00	USD	Wholesale Inventories Jan		0.50%	0.30%
15:00	GBP	NIESR GDP Estimate Feb			0.80%

Orders and Options Watch

European Session: Orders and Options Watch

GBP: The British pound remained confined in narrow range after yesterday's selloff. Mixture of bids and stops remains at 1.6615-20, fresh demand should emerge around 1.6580-90 and further out at 1.6550-60. On the upside, offers are now seen at 1.6680-85 and 1.6700-10 with some stops placed above 1.6710, combination of offers and stops is located at 1.6740-60 area. Option expires today include: 1.6550, 1.6600 (large), 1.6700 and 1.6750.

Read more...

Forex Trade Ideas

Trade Idea Update: GBP/USD - Sell at 1.6695

Cable's selloff from 1.6786 and yesterday's breach of 1.6641 support signal top has been formed at 1.6786 late last week and consolidation with downside bias remains for weakness to 1.6600, break there would suggest early rebound from 1.6583 has ended and bring a retest of this support, having said that, a drop below this level is needed to signal another leg of decline from 1.6823 top is underway for further fall to 1.6550.

Trade Idea Update: EUR/USD - Buy at 1.3820

Near term consolidation below last week's high of 1.3915 is expected to continue and although another corrective fall to 1.3835-40 (38.2% Fibonacci retracement of 1.3707-1.3915) cannot be ruled out, reckon 1.3811-18 (50% Fibonacci retracement and current level of the lower Kumo) would limit downside and bring another rise later. A break of said resistance at 1.3915 would extend recent upmove to 1.3940-50 but price should falter well below psychological resistance at 1.4000