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Action Insight Market Overview	Markets Snapshot
Daily Report: Euro Mildly Lower as Greece Given 3 Day Deadline for Reforms Euro is mildly lower in Asian session as traders were disappointed by the lack of conclusion on a Greece bailout after the Eurozone Crisis summit on Sunday. Instead, Greece was requested to pass the legislations on reforms within three days before negotiations of the EUR 86b third bailout could be resumed in detail. Also, it's reported that Germany insisted that Greek state assets of EUR 50b held in a trust fund in Luxembourg should be sold off with proceeds going directly to repay debts. And, IMF must be involved in any third bailout despite resistance from Greece. The Eurogroup finance ministers would then meet again on Friday to launch the negotiations formally. There are a few options under considerations to give Greece bridging funds once the laws are passed. While the common currency is mildly lower, the loss is limited so far. Euro is also supported by rumors that ECB would delay a EUR 3.5b repayment due on July 20. Full Report Here...
Featured Technical Report
EUR/JPY Daily Outlook Daily Pivots: (S1) 134.73; (P) 136.01; (R1) 138.20; More... Intraday bias in EUR/JPY remains mildly on the upside for the moment. As noted before, fall from 141.04 should have completed at 133.39, ahead of 133.09 key near term support. And, price actions from 141.04 is possibly just developing into a sideway consolidation pattern. Further rise would be seen to retest 141.04 first. In any case, as long as 133.09 support holds, rise from 126.09 is in favor to extend beyond 141.04 at a later stage. 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

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GMT	Ccy	Events	Actual	Consensus	Previous
2:45	CNY	Trade Balance Jun	$46.61B	$56.35B	$59.49B
4:30	JPY	Industrial Production M/M May F	-2.10%	-2.10%	-2.20%
4:30	JPY	Tertiary Industry Index M/M May	-0.70%	-0.20%	-0.20%
18:00	USD	Monthly Budget Statement Jun		40.5B	-82.4B

Orders and Options Watch

European Session: Orders and Options Watch

EUR: The single currency has rallied today and offers at 1.1070-75, 1.1090-00, 1.1120 and 1.1145-50 were filled, some sell orders are reported at 1.1180, 1.1200 and 1.1220-25, selling interest is tipped at 1.1245, 1.1280 and 1.1300, some sellers are awaiting at 1.1330 and 1.1350. On the downside, bids are raised to 1.1100-10, 1.1085 and 1.1050-60, buy orders are seen at 1.1030, 1.1000 and 1.0980, buying interest is expected at 1.0960, 1.0940 and 1.0925, fresh demand should emerge around 1.0900, 1.0880 and 1.0850 barrier (stops below). Option expires today include: 1.0920 (huge), 1.0925 (huge), 1.0940 (large), 1.1000 (large) and 1.1050.

Trade Idea: EUR/JPY - Buy at 135.55

Although the single currency extended recent fall from 141.06 to a marginal low of 133.31 yesterday, the subsequent strong rebound suggests low has been formed there and consolidation with upside bias is seen for test of 137.40-45 but break of resistance at 138.13 would add credence to this view and signal the aforesaid decline has ended, then further rise to 138.65-70 would follow

Trade Idea: AUD/USD - Sell at 0.7555

As the Australian dollar has recovered after falling to 0.7372 earlier this week, retaining our view that further consolidation above this level would be seen and another corrective bounce to 0.7500 and possibly previous support at 0.7533 (now resistance) cannot be ruled out, however, reckon 0.7550-55 would limit upside and bring another decline later, below 0.7410-15 would bring test of said support at 0.7372