Monday, August 31, 2015

Action Insight Daily Report 9-1-15

ActionForex.com
Action Insight Market Overview Markets Snapshot

Daily Report: Aussie Steady as RBA Stands Pat and Stays Neutral

Aussie stays steady in tight range against dollar after RBA kept cash rate unchanged at 2.00% as widely expected. The central bank maintained a neutral bias and noted that "further information on economic and financial conditions" are needed to determine the assessment of outlook and monetary policy. Regarding recent turmoils in the financial markets, RBA sounded calm and noted "equity markets have been considerably more volatile of late, associated with developments in China, though other financial markets have been relatively stable." Also released from Australia, building approvals rose 4.2% mom in July, current account deficit widened sharply to AUD -19.0b in Q2. From New Zealand, terms of trade index rose 1.3% qoq in Q2.

Full Report Here...


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Featured Technical Report

AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7075; (P) 0.7118; (R1) 0.7156; More...

Intraday bias in AUD/USD remains neutral for consolidations. In case of stronger recovery, upside should be limited below 0.7438 resistance and bring fall resumption. Below 0.7035 should send the pair through 61.8% projection of 0.9504 to 0.7625 from 0.8161 at 0.7000 to 100% projection at 0.6282.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
22:45 NZD Terms of Trade Index Q/Q Q2 1.30% -2.00% 1.50% 1.20%
23:50 JPY Capital Spending Q2 5.60% 8.90% 7.30%
1:00 CNY Manufacturing PMI Aug 49.7 49.7 50
1:00 CNY Non-manufacturing PMI Aug 53.4 53.9
1:30 AUD Current Account Balance (AUD) Q2 -19.0B -15.8B -10.7B -13.5B
1:30 AUD Building Approvals M/M Jul 4.20% 3.00% -8.20% -5.20%
1:35 CNY Caixin PMI Manufacturing Aug F 47.3 47.2 47.1
1:45 CNY Caixin PMI Services Aug 51.5 53.9 53.8
4:30 AUD RBA Rate Decision 2.00% 2.00% 2.00%
7:30 CHF SVME-PMI Aug 49.8 48.7
7:45 EUR Italy Manufacturing PMI Aug 55 55.3
7:50 EUR France Manufacturing PMI Aug F 48.6 48.6
7:55 EUR German Unemployment Change Aug -4K 9K
7:55 EUR German Unemployment Rate s.a. Aug 6.40% 6.40%
7:55 EUR Germany Manufacturing PMI Aug F 53.2 53.2
8:00 EUR Eurozone Manufacturing PMI Aug F 52.4 52.4
8:00 EUR Italian Unemployment Rate Jul P 12.70% 12.70%
8:30 GBP Mortgage Approvals Jul 68.3K 66.6K
8:30 GBP M4 Money Supply M/M Jul 0.20% -0.50%
8:30 GBP PMI Manufacturing Aug 51.9 51.9
9:00 EUR Eurozone Unemployment Rate Jul 11.10% 11.10%
12:30 CAD GDP M/M Jun 0.20% -0.20%
14:00 USD Construction Spending M/M Jul 0.80% 0.10%
14:00 USD ISM Manufacturing Aug 52.8 52.7
14:00 USD ISM Prices Paid Aug 39 44
Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency retreated after meeting resistance at 1.1310 and bids at 1.1265-70 and 1.1250 were filled but buy orders are reported at 1.1225-30 and 1.1200, buying interest should emerge around 1.1185 and 1.1150. On the upside, offers are seen at 1.1275-80, 1.1300-10 and 1.1325, sell orders are expected at 1.1340 and 1.1355-60, more selling interest is tipped at 1.1380, 1.1400 and 1.1425, mixture of offers and stops is located at 1.1450.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.7230

The single currency met resistance at 0.7355 on Friday and has retreated again, retaining our view that further consolidation would be seen with initial downside risk for another corrective fall, however, reckon 0.7220-25 (50% Fibonacci retracement of 0.7026-0.7423) would limit downside and bring another rebound, above 0.7355-64 would bring retest of last week's high at 0.7423.

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Trade Idea : AUD/USD - Sell at 0.7160

As aussie has retreated after meeting renewed selling interest at 0.7206 late last week, consolidation with downside bias is seen for weakness to 0.7070 support but break there is needed to signal correction from 0.7043 has ended, bring retest of this level later. A drop below this support would extend recent downtrend to psychological support at 0.7000 which is likely to hold on first testing, bring rebound later.

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Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

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Action Insight Mid-Day Report 8-31-15

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Forex Markets Steady, Heavy Weight Events in Coming Asian Session

The forex markets are generally staying in tight range today even though some extra weakness is seen in Aussie and Kiwi. Traders are cautious ahead of a bunch of key economic data from US to be released later this week. That include ISM indices as well as non-farm payroll. Dollar was supported by slightly more hawkish than expected but there is no follow through buying so far. There are talks that Fed will stand pat in September even in case of strong data this week as it needs more time to assess the development of recent market turmoils. Nonetheless, the August job data would still be crucial for Fed to decide whether to hike in October.

Full Report Here...


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Featured Technical Report

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.5341; (P) 1.5391; (R1) 1.5449; More...

With 1.5508 minor resistance intact, further decline is expected in GBP/USD. Recent development suggests that corrective pattern from 1.5329 has completed with three waves up to 1.5817. Break of 1.5329 support will resume the fall from 1.5929 and target 100% projection of 1.5929 to 1.5329 from 1.5817 at 1.5217. Break will target 161.8% projection at 1.4846. On the upside, above 1.5508 minor resistance will turn bias neutral first. But risk will stay on the downside as long as 1.5817 resistance holds.

Read more...

Economic Indicators Update

Get ready for a return to stock-picking: Quality growth investments to fit your own unique risk tolerance! At The MoneyShow Las Vegas, May 12-14, 2015, you can find potent growth investments in a fragile bull market. Hear from the industry's top experts such as Steve Forbes, Mark Mills, James Stack, and many more! Register for free now!

GMT Ccy Events Actual Consensus Previous Revised
22:45 NZD Building Permits M/M Jul 20.40% -4.10% -3.30%
23:50 JPY Industrial Production M/M JUl P -0.60% 0.10% 1.10%
00:30 AUD TD Securities Inflation M/M Aug 0.10% 0.20%
01:00 NZD NBNZ Business Confidence Aug -29.1 -15.3
05:00 JPY Housing Starts Y/Y Jul 7.40% 11.00% 16.30%
06:00 EUR German Retail Sales M/M Jul 1.40% 1.30% -2.30%
07:00 CHF KOF Leading Indicator Aug 100.7 100.3 99.8 100.4
09:00 EUR Eurozone CPI Estimate Y/Y Aug 0.20% 0.10% 0.20%
09:00 EUR Eurozone CPI - Core Y/Y Aug A 1.00% 0.90% 1.00%
12:30 CAD Current Account (CAD) Q2 -17.4B -$17.00B -$17.50B -18.1B
13:45 USD Chicago PMI Aug 54.4 54.7 54.7
Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency traded narrowly and further consolidation is in store, buy orders are still noted at 1.1180 and 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1100-10 (stops below barrier at 1.1100). On the upside, offers are now seen at 1.1260-65 and 1.1280, more sell orders are reported at 1.1300-10, 1.1325 and 1.1360 (sizeable), selling interest should emerge around 1.1395-00 (stops above).

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Forex Trade Ideas

Trade Idea Update: GBP/USD - Buy at 1.5370

Although the British pound fell again to as low as 1.5335 on Friday, the subsequent rebound suggests consolidation above this level would be seen and above resistance at 1.5443 would suggests low has possibly been formed there, bring retracement of recent decline to 1.5480-85 (38.2% Fibonacci retracement of 1.5720-1.5335) but reckon resistance at 1.5509 would limit upside, bring another decline

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Trade Idea Update: EUR/USD - Buy at 1.1190

Although the single currency has retreated after faltering below the lower Kumo and minor consolidation would be seen with initial downside risk, as long as Friday's low at 1.1156 holds, prospect of another rebound remains, above 1.1260-65 would bring retracement of last week's selloff to 1.1310 (Friday's high and 38.2% Fibonacci retracement of 1.1562-1.1156), however, reckon 1.1359-64 (50% Fibonacci retracement and another previous resistance) would limit upside

Read more...

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

 

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This email was sent to mondemand.forex@blogger.com by contact@actionforex.com |  

Action Forex Company Limited | Room 1707, 17/F | Treasure Center | 42 Hung To Road | Kwun Tong | Kowloon | 852 | Hong Kong