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Mid-Day Report: Dollar Rally Extends as Rate Speculations ContinuedDollar's rally continues today and remains the strongest major currency this week so far. Recent hawkish comments from Fed officials revived the talk of a rate hike by the end of the year. Nonetheless, it should be noted that latest futures data implies only 44% of a hike in December. While that is significantly higher than last month's pricing of around 25%, traders seem to be rather unconfined yet. Nonetheless, the greenback is showing much strength against Euro, which markets are talking about the possibility of ECB expanding stimulus. | |
Featured Technical Report | |
GBP/USD Mid-Day OutlookDaily Pivots: (S1) 1.5469; (P) 1.5518; (R1) 1.5556; More... Intraday bias in GBP/USD remains on the downside for 1.5329 support. Break will confirm that rebound from 1.5164 has completed at 1.5658. More importantly, the decline from 1.5929 should be resuming for 61.8% retracement 1.4565 to 1.5929 at 1.5086 and below. On the upside, above 1.5479 will turn bias neutral first. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency has remained under pressure today, bids at 1.1150-55 were filled but buy orders are still noted at 1.1135 and 1.1120, buying interest is expected at 1.1100, 1.1085 and 1.1065, fresh demand should emerge around 1.1050, 1.1030 and 1.1000. On the upside, offers are lowered to 1.1195-05, 1.1225 and 1.1245, sell orders are reported at 1.1275 and 1.1300, selling interest is tipped further out at 1.1325-30 and 1.1350. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea Update: USD/CHF - Buy at 0.9650The greenback has continued to move higher after brief pullback, adding credence to our view that correction from 0.9824 has ended at 0.9528 late last week and gain to resistance at 0.9764 would be seen, however, break of another previous resistance at 0.9797 is needed to signal early upmove has resumed for retest of 0.9824, otherwise, further choppy trading would take place. Trade Idea Update: EUR/USD - Sell at 1.1280 or buy at 1.1120The single currency has remained under pressure and downside bias remains for recent decline from 1.1460 top (last week's high) to extend weakness towards previous support at 1.1132, however, loss of near term downward momentum should prevent sharp fall below 1.1115-20 and bring rebound later, above 1.1200-10 would bring recovery to the Kijun-Sen (now at 1.1243), then previous support at 1.1269, however, price should falter below 1.1300 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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