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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: Markets Steady as Focus Turns to Three Central Bank MeetingsThe forex markets opened the week in rather steady manner and major pairs and crosses are generally stuck in tight range. US and Canada are on holidays today and trading could remain subdued. Economic data released today triggered little reactions in the markets. Japan leading index dropped to 104.9 in July. German industrial production rose 0.7% mom in July. Eurozone Sentix investor confidence dropped to 13.6 in September. Swiss foreign currency reserves rose to CHF 540b in August. The US economic calendar is light this week and the greenback would likely stay firm as markets await FOMC rate decision next week. Focus will but turned to other countries as there will be three major central bank meetings scheduled, including BoC, RBNZ and BoE. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.3193; (P) 1.3241; (R1) 1.3320; More... USD/CAD is still staying in the consolidation pattern from 1.3353 short term top. Intraday bias remains neutral for more sideway trading. As long as 1.2951 support holds, further rally is expected. Above 1.3353 will target next long term retracement level at 1.3469. However, break of 1.2951 will confirm near term reversal and bring deeper pull back. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency dropped again in NY morning in part due to upbeat US data, bids at 1.1200, 1.1180, 1.1160 and 1.1120-30 were filled, mixture of bids and stops at 1.1100 barrier is in focus, some buy orders are scattered around 1.1050-60 and 1.1020-25, buying interest is tipped at 1.0990-00 (stops below 1.0980). On the upside, offers are now seen at 1.1150-55 and 1.1190-00, sell orders are expected at 1.1220 and 1.1240-50 (stops above), selling interest should emerge around 1.1280 and 1.1300 with stops building up above 1.1335-40. | |||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Hold long entered at 0.7300Euro's retreat after meeting resistance at 0.7376 yesterday suggests further consolidation would be seen and minor support at 0.7262 needs to hold to retain prospect of another rebound, above said resistance would bring test of 0.7395 but break there is needed to signal upmove has resumed for retest of 0.7423. Trade Idea: USD/CAD - Buy at 1.3155The greenback has remained confined within recent established range and further choppy trading would be seen, however, reckon 1.3117 support would contain downside and bring another rise later, above 1.3300 would bring retest of last week's high at 1.3354. Once this resistance is penetrated, this would signal recent upmove has resumed and extend further gain to 1.3390-00 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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