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| 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 |
Daily Report: Market Rout Accelerates, EUR, CHF, JPY SurgeAsian markets opened the week sharply lower as the meltdown in China stock market accelerated. At the time of writing, the Shanghai Composite is trading down -300 pts, or -8.5% and is pressing 3200. That's well below the 3500 level that markets expected the government to defend. HK HSI followed and is down over -1000 pts, or -4.5%. Nikkei is also down over -600 pts or -3%. The Chinese State Council announced over the weekend that the USD 550b pensions funds are now allowed to invest as much as 30% of the net assets by the end of 2014. However such move was seen as inadequate to halt the market crash. There were expectations that China would opt for another cut in required reserve ratio (RRR), or any larger measures. The weakness in stocks today was also a reaction to the steep fall in US on Friday, which ended the worst week in four years. |
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| Featured Technical Report | |
USD/JPY Daily OutlookDaily Pivots: (S1) 121.41; (P) 122.45; (R1) 123.09; More... USD/JPY's decline accelerates to as low as 120.72 so far today and intraday bias remains on the downside for 120.40 support and below. At this point, we're viewing fall from 125.27 as the third leg of the consolidation pattern from 125.85. Thus, we'd look for bottoming between 118.88/120.40. On the upside, above 121.82 minor resistance will turn bias neutral and bring consolidations before staging another fall. |
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| Orders and Options Watch | ||||||||||||||
US Session: Orders and Options WatchEUR: The single currency moved higher again, bids are raised to 1.1240-45, 1.1220-25 and 1.1200, buy orders are reported at 1.1180, 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1065, fresh demand is located at 1.1050, 1.1020-25 and 1.1000. On the upside, offers are seen at 1.1325-30 and 1.1350, selling interest should emerge around 1.1380 and 1.1400. | ||||||||||||||
| Forex Trade Ideas | ||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.7150The single currency has surged again today and broke above indicated resistance at 0.7170, adding credence to our view that low has been formed at 0.6936 last month and upside bias remains for the rebound from there to bring retracement of early decline to previous resistance at 0.7224, break there would encourage for headway to 0.7250 and possibly towards 0.7275-80. Trade Idea Wrap-up: USD/CHF - Sell at 0.9590The greenback has dropped again after brief recovery and bearishness remains for the decline from 0.9903 top to extend further weakness to 0.9470-75, then towards 0.9435 (1.618 times projection of 0.9903-0.9678 measuring from 0.9799), however, near term oversold condition should limit downside to previous support at 0.9405 and reckon 0.9368 would hold from here Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||
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