Wednesday, September 30, 2015

Action Insight Daily Report 10-1-15

ActionForex.com
Action Insight Market Overview Markets Snapshot

Daily Report: Yen and Nikkei Shrugged Off Weak Tankan

Japanese markets rebounds strongly today, following US and shrugging off the quarterly Tankan survey. At the time of writing Nikkei is trading over 300pts up, or 1.7%. That followed the rebound in US overnight where DJIA closed up 235.57 pts or 1.47%. S&P 500 closed reclaimed 1900 handle and closed up 35.94 pts, or 1.91%. Yen is staying in range again other major currencies in general. The Tankan large manufacturers index dropped more than expected by 3 pts to 12 in Q3 while the outlook gauge dropped 6 pts to 10. The non-manufacturing index, on the other hand rose 2 pts to 25 and beat expectation while outlook gauge dropped to 9. All industry capex showed 10.9% growth during the period. Some economists noted that the Q3 survey showed general pessimistic sentiment but there are still some hopes from construction spending. Some expected the government to push BoJ harder for expanding monetary easing.

Full Report Here...


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Featured Technical Report

USD/JPY Daily Outlook

Daily Pivots: (S1) 119.55; (P) 120.06; (R1) 120.44; More...

USD/JPY is still stuck in range of 118.58/121.62 and intraday bias stays neutral at this point. On the upside, break of 121.62 will extend the rebound from 116.13 and target 125.27/85 resistance zone. We'd cautious on strong resistance from there to bring reversal. On the downside, break of 118.58 will turn focus back to 116.13 support instead.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
23:50 JPY Tankan Large Manufacturers Index Q3 12 13 15
23:50 JPY Tankan Large Manufacturers Outlook Q3 10 10 16
23:50 JPY Tankan Non-Manufacturing Index Q3 25 21 23
23:50 JPY Tankan Non-Manufacturing Outlook Q3 19 19 21
23:50 JPY Tankan Small Mfg Index Q3 0 -2 0
23:50 JPY Tankan Small Mfg Outlook Q3 -2 -4 0
23:50 JPY Tankan Small Non-Mfg Index Q3 3 2 4
23:50 JPY Tankan Small Non-Mfg Outlook Q3 1 0 1
23:50 JPY Tankan Large All Industry Capex Q3 10.90% 8.50% 9.30%
1:00 CNY Manufacturing PMI Sep 49.8 49.7 49.7
1:00 CNY Non-manufacturing PMI Sep 53.4 53.4
1:45 CNY Caixin Manufacturing PMI Sep F 47.2 47.2 47
1:45 CNY Caixin Services PMI Sep 50.5 51.2 51.5
7:15 CHF Retail Sales (Real) Y/Y Aug 0.30% -0.10%
7:30 CHF SVME-PMI Sep 51.9 52.2
7:45 EUR Italy Manufacturing PMI Sep 53.4 53.8
8:00 EUR Eurozone Manufacturing PMI Sep F 52 52
8:30 GBP UK PMI Manufacturing Sep 51.3 51.5
11:30 USD Challenger Job Cuts Y/Y Sep 2.90%
12:30 USD Initial Jobless Claims (SEP 26) 273K 267K
14:00 USD Construction Spending M/M Aug 0.60% 0.70%
14:00 USD ISM Manufacturing Sep 51 51.1
14:00 USD ISM Prices Paid Sep 40 39
14:30 USD Natural Gas Storage 106B
Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency slipped today in European session, offers are lowered to 1.1225, 1.1245 and 1.1260-65, more sell orders are reported at 1.1280, 1.1295-00 and 1.1325-30, selling interest is tipped at 1.1350, 1.1380-85 and 1.1400. On the downside, bids at 1.1200 and 1.1180 were filled but buy orders are still seen at 1.1150, 1.1135 and 1.1120, buying interest should emerge around 1.1100, 1.1085 and 1.1065, fresh demand is located at 1.1050, 1.1030 and 1.1000.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Hold long entered at 0.7320

Euro's retreat after faltering below yesterday's high of 0.7437 suggests caution on our bullishness and 0.7360 needs to hold to retain prospect of another rise, above said resistance would extend the rise from 0.6936 low (wave v trough) to 0.7450-55 and later towards 0.7490-00, however, loss of upward momentum should prevent sharp move beyond latter level.

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Trade Idea : USD/CAD - Buy at 1.3250

As the greenback has retreated after rising to 1.3457 yesterday, suggesting minor consolidation below this level would be seen and pullback to 1.3330-35 is likely, however, reckon downside would be1.3290-95 and renewed buying interest should emerge around 1.3250, bring another rise later, above said resistance would signal recent upmove has resumed and extend gain to 1.3490-00

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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 9-30-15

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Dollar Mildly Firmer after ADP, Eurozone Back in Deflation

Dollar is mildly firm against Euro in early US session. ADP report showed private sector jobs grew 200k in September, above expectation f 185k. Prior month's figure was revised down from 190k to 186k. Euro on the other hand, was weighed down by a batch of weak data. Nonetheless, EUR/USD is staying tight range above 1.1104 and more consolidation would still be seen. The focus will turn to Fed chair Janet Yellen's speech later today and other economic data from US for the rest of the week. Also released in early US session, Canada GDP rose 0.3% mom in July versus expectation of 0.2% mom.

Full Report Here...


jpyvol.png
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Featured Technical Report

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1201; (P) 1.1241 (R1) 1.1289; More....

EUR/USD dips mildly but stays in range above 1.1104. Intraday bias remains neutral for the moment. And risk stays on the downside. Below 1.1104 will resume the fall from 1.1713 and target 1.0807 support next. Note that whole corrective rise from 1.0461 has completed at 1.1713, ahead of 38.2% retracement of 1.3993 to 1.0461 at 1.1810. Break of 1.0807 would pave the way back to 1.0461. However, break of 1.1459 resistance will bring another rise through 1.1713 resistance instead.

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
21:45 NZD Building Permits M/M Aug -4.90% 20.40% 20.30%
23:05 GBP GfK Consumer Sentiment Sep 3 5 7
23:50 JPY Industrial Production M/M Aug P -0.50% 1.10% -0.80%
23:50 JPY Retail Trade Y/Y Aug 0.80% 1.30% 1.60% 1.80%
00:00 NZD NBNZ Business Confidence Sep -18.9 -29.1
01:30 AUD Building Approvals M/M Aug -6.90% -1.90% 4.20% 7.90%
05:00 JPY Housing Starts Y/Y Aug 8.80% 7.70% 7.40%
06:00 CHF UBS Consumption Indicator Aug 1.63 1.64
07:00 CHF KOF Leading Indicator Sep 100.4 101.2 100.7
07:55 EUR German Unemployment Change Sep 2K -5K -7k -6K
07:55 EUR German Unemployment Rate Sep 6.40% 6.40%
08:00 EUR Italian Unemployment Rate Aug P 11.90% 12.00% 12.00%
08:30 GBP Current Account (GBP) Q2 -16.8B -22.3B -26.5b -24.0B
08:30 GBP GDP Q/Q Q2 F 0.70% 0.70% 0.70%
08:30 GBP Index of Services 3M/3M Jul 0.80% 0.80% 0.70%
09:00 EUR Eurozone Unemployment Rate Aug 11.00% 10.90% 10.90%
09:00 EUR Eurozone CPI Estimate Y/Y Sep -0.10% 0.00% 0.10% 0.10%
09:00 EUR Eurozone CPI - Core Y/Y Sep A 0.90% 0.90% 0.90%
12:15 USD ADP Employment Change Sep 200K 185k 190k 186K
12:30 CAD GDP M/M Jul 0.30% 0.20% 0.50%
13:45 USD Chicago PMI Sep 53.1 54.4
14:30 USD Crude Oil Inventories -1.9M
Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency slipped today in European session, offers are lowered to 1.1225, 1.1245 and 1.1260-65, more sell orders are reported at 1.1280, 1.1295-00 and 1.1325-30, selling interest is tipped at 1.1350, 1.1380-85 and 1.1400. On the downside, bids at 1.1200 and 1.1180 were filled but buy orders are still seen at 1.1150, 1.1135 and 1.1120, buying interest should emerge around 1.1100, 1.1085 and 1.1065, fresh demand is located at 1.1050, 1.1030 and 1.1000.

Read more...

Forex Trade Ideas

Trade Idea Update: EUR/USD - Hold short entered at 1.1265

The single currency has retreated after holding below indicated resistance at 1.1265-68, retaining our bearishness for weakness towards support at 1.1147, however, break there is needed to add credence to our view that the rebound from 1.1116 has ended at 1.1282, then weakness to said support at 1.1116 would follow, below there would signal decline has resumed for retest of 1.1105

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Trade Idea Update: USD/JPY - Stand aside

As the greenback has rebounded again after finding buying interest at 119.53, suggesting near term upside risk remains for gain to 120.45-50, however, break above there is needed to signal the retreat from 121.24 has ended, bring a stronger rebound to 120.80-90, having said that, as broad outlook remains consolidative, reckon price would falter well below resistance at 121.24.

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

INO TV Free

Forward this report to a friend!


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