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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Risk Aversion Continues With Eyes on Crimea Vote on Sunday Risk aversion is the main theme in the markets today as European equities opened and stayed in red, following the sharp selloff in Asia. US futures are pointing to mixed open as market could try to digest yesterday's steep losses. Nonetheless, there wouldn't be much chance for a recovery in risk sentiments before the week closes. Situation in Crimea over the weekend will be closely watched by all market participants as Europe is facing the biggest geopolitical crisis since the end of the Cold War. In the currency markets, yen surged broadly this week and is maintaining gains into US session. While European majors pared back some of their gains against the greenback, the dollar index is maintaining a near term bearish bias for 79.0 level. Gold extended recent rally and is trading above 1370 for the moment and could head further north to 1400 should the situation in Crimea worsen after the crucial referendum. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 101.27; (P) 102.07; (R1) 102.60; More... USD/JPY's sharp fall continues into US session and intraday bias remains on the downside for 101.19 support. Break will indicate that the whole decline from 105.41 is likely resumption. Further break of 100.75 will target 100% projection of 105.41 to 100.75 from 103.75 at 99.09. Also, decisive break of 100.61 key support will have larger bearish implications. On the upside, above 101.87 minor resistance will turn bias neutral first. 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
21:30	NZD	Business NZ Manufacturing Index Feb	56.2		56.2	56.3
23:50	JPY	BoJ Minutes
04:30	JPY	Industrial Production M/M Jan F	3.80%	4.00%	4.00%
07:00	EUR	German CPI M/M Feb F	0.50%	0.50%	0.50%
07:00	EUR	German CPI Y/Y Feb F	1.20%	1.20%	1.20%
08:15	CHF	Producer & Import Prices M/M Feb	-0.40%	0.00%	0.00%
08:15	CHF	Producer & Import Prices Y/Y Feb	-0.80%	-0.40%	-0.30%
10:00	EUR	Eurozone Employment Q/Q Q4	0.10%	0.00%	0.00%
12:30	USD	PPI M/M Feb	-0.10%	0.20%	0.20%
12:30	USD	PPI Y/Y Feb	0.90%	1.20%	1.20%
12:30	USD	PPI Core M/M Feb	-0.20%	0.10%	0.20%
12:30	USD	PPI Core Y/Y Feb	1.10%	1.40%	1.30%
13:55	USD	U. of Michigan Confidence Mar P		81.6	81.6

Orders and Options Watch

European Session: Orders and Options Watch

EUR: The single currency dropped quite sharply after rising to 28-month high of 1.3967 yesterday in part due to solid US data and risk aversion, bids at 1.3920, 1.3900, 1.3885 and 1.3850-60 were filled, however, buy orders are still noted at 1.3840 (stops below 1.3830) and further out at 1.3780-90. On the upside, offers are now seen at 1.3890-00 and in good size at 1.3940-50, mixture of offers and stops is tipped at 1.3965-70, more sell orders are located at 1.3985-1.4000 region with more stops placed above sizeable barrier at 1.4000. Option expires today include: 1.3755, 1.3825, 1.3845, 1.3900, 1.3910, 1.3915 and 1.3990.

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Forex Trade Ideas

Trade Idea Update: USD/CHF - Buy at 0.8730

Dollar's rebound after falling to 0.8699 yesterday suggests a temporary low is formed there and consolidation with mild upside bias is seen for retracement of recent decline, above 0.8770-75 (38.2% Fibonacci retracement of 0.8896-0.8699) would add credence to this view, bring further gain to 0.8805 and later towards 0.8816-21 (previous resistance and 61.8% Fibonacci retracement) but 0.8850 is likely to hold on first testing.

Trade Idea Update: EUR/USD - Sell at 1.3930

Despite yesterday's anticipated resumption of recent upmove to 1.3967, the subsequent selloff in part due to cross-selling in euro suggests top is formed there and consolidation with mild downside bias is seen test of 1.3834 support (this week's low), break there would add credence to this view and bring retracement of early upmove to 1.3800, however, near term oversold condition should prevent sharp fall below previous resistance at 1.3749