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Action Insight Market Overview	Markets Snapshot
Daily Report: Financial Markets Stabilized as Focus Turns to FOMC The financial markets stabilized as focus now turns to FOMC announcement today. DJIA rebounded overnight and closed 189.68 pts, or 1.09% higher at 17630.27, back above 55 weeks EMA. S&P 500 also closed up 25.6 pts, or 1.24% at 2093.25. Meanwhile, gold continues to stay in tight range below 1100. Crude oil also recovers mildly and is back pressing 48 level. The dollar index is trading softly around 96.6 and is trying to draw support from 55 days EMA. Dollar is mildly higher today but remains the weakest major currency this week so far. New Zealand dollar continues this week's recovery in spite of dovish comments from RBNZ governor. Other major currencies are relatively mixed. Full Report Here...
Featured Technical Report
USD/CAD Daily Outlook Daily Pivots: (S1) 1.2875; (P) 1.2959; (R1) 1.3006; More... The breach of 1.2915 minor support argues that a short term top is formed at 1.3102. Intraday bias is mildly on the downside for pull back to 38.2% retracement of 1.2127 to 1.3102 at 1.2730. At this point, we'd expect strong support around 1.2562 resistance turned support to contain downside and bring rally resumption. Above 1.3102 will target next projection level at 1.3287. 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
23:50	JPY	Retail Trade Y/Y Jun	0.90%	1.00%	3.00%
6:00	CHF	UBS Consumption Indicator Jun			1.73
6:00	EUR	German GfK Consumer Sentiment Aug		10.1	10.1
8:30	GBP	Mortgage Approvals Jun		66.0K	64.4K
8:30	GBP	M4 Money Supply M/M Jun		0.40%	0.50%
10:00	GBP	CBI Reported Sales Jul		29	29
14:00	USD	Pending Home Sales M/M Jun		1.00%	0.90%
14:30	USD	Crude Oil Inventories			2.5M
18:00	USD	FOMC Rate Decision		0.25%	0.25%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency retreated after rising to 1.1130 yesterday and bids at 1.1050 were filled but buy orders are still noted at 1.1020, 1.1000 and 1.0980, buyers are reported at 1.0965 and 1.0940, buying interest is tipped at 1.0900, 1.0880 and 1.0860, fresh demand is located at 1.0820-25 and 1.0800. On the upside, offers are now seen at 1.1075-85, 1.1100 and 1.1120, sell orders are expected at 1.1160, 1.1185 and 1.1200, selling interest should emerge around 1.1220 and 1.1250.

Trade Idea: EUR/GBP - Hold short entered at 0.7130

As the single currency has retreated after rising to 0.7161 yesterday, suggesting consolidation below this level would be seen and pullback to 0.7050 cannot be ruled out, however, if our view that low has been formed at 0.6936 earlier is correct, downside should be limited and bring another rebound later, above 0.7130-35 would bring another test of said resistance at 0.7161. Once this level is penetrated, this would add credence to our view that a temporary low has possibly been formed at 0.6936

Trade Idea: USD/CAD - Buy at 1.2900

As the greenback has retreated after rising to 1.3103 late last week and consolidation below this level would be seen for minor correction to 1.2945-50, however, reckon 1.2900-10 would limit downside and bring another rise later, above said resistance at 1.3103 would signal recent wave iii is still in progress and headway to 1.3150-60, then 1.3200 would follow, however, loss of upward momentum should prevent sharp move beyond 1.3250-60 and price should falter below 1.3300-10 today