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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: Dollar and Stocks Rebounded and Markets CalmedWall Street seemed to have responded very well to China's stimulus measures. DJIA surged 619.07 pts, or 3.95%, to close at 16285.51. S&P 500 rose 72.9 pts, or 3.90% to close at 1940.51. That's the biggest percentage gain in the US markets in four years. Asian markets follow with Nikkei trading up more than 250 pts, or 1.4% at the time of writing while Hong Kong HSI rises over 500 pts or 2.5%. However, China's Shanghai composite is mildly up by 1.5% and is still struggling to reclaim 3000 level. In the currency markets, dollar rebounded strongly overnight and stays firm. The greenback is now the second strongest major currency this week next to Japanese yen. Commodity currencies continue to consolidate but stay the weakest. European majors are notably weaker after initial surge earlier in the week. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.3248; (P) 1.3298; (R1) 1.3346; More... Upside momentum in USD/CAD is a bit unconvincing but still, with 1.3143 support intact, further rally is still expected. Current rise would target next long term retracement level at 1.3469. Nonetheless, break of 1.3143 will indicate short term topping and bring pull back to 1.2951 support and below. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchGBP: Cable tumbled again in London session, bids at 1.5650-55, 1.5630-35, 1.5625, 1.5600, 1.5585 and 1.5565 were filled, however, some buy orders are still noted at 1.5550 and 1.5525-30, buying interest is tipped at 1.5000. On the upside, offers are lowered to 1.5590-00, 1.5625-30 and 1.5650-55, sell orders are expected at 1.5675-80, 1.5700 and 1.5720-25, selling interest is expected at 1.5750-60, 1.5780-85 and 1.5800. | |||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.7230Although the single currency has rebounded after finding support at 0.7259 and recovery to 0.7365-70 cannot be ruled out, break of this week's high at 0.7423 is needed to signal recent upmove has resumed and extend gain to 0.7450, then towards 0.7475-80, otherwise, further consolidation is in store. Below 0.7290 would bring another corrective fall to 0.7259 but reckon 0.7220-25 (50% Fibonacci retracement of 0.7026-0.7423) would limit downside Trade Idea: USD/CAD - Stand asideAlthough the greenback has risen again after finding renewed buying interest at 1.3144 yesterday and near term bullishness remains for recent upmove to extend gain to 1.3355-60, however, this minor wave v of iii should falter below 1.3390-00, risk from from there is seen for a correction to take place later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||
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Fundamental Highlights
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