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Mid-Day Report: Euro and Yen Rise against Dollar as Yellen AwaitedDollar weakens against euro and yen today but remains firm against commodity currencies. Economic data released from US were mixed. Initial jobless claims rose 3k to 167k in the week ended September 19. The four week moving average dropped slightly to 271.75k. Continuing claims dropped 1k to 2.24m in the week ended September 12. Headline durable goods orders dropped -2.0% in August but ex-transport orders was flat. Fed chair Janet Yellen's speech later today will be closely watched for affirmation of a rate hike by the end f the year. | |
Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 119.75; (P) 120.14; (R1) 120.66; More... USD/JPY weakens today but stays in range of 118.58/121.62 and intraday bias remains neutral for the moment. 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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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency has surged since European morning, offers at 1.1225, 1.1245 and 1.1275 were filled, however, sell orders are still noted at 1.1300 and 1.1330 (stops above), mixture of offers and stops is located at 1.1350, selling interest is tipped further out at 1.1390-00. On the downside, bids are raised to 1.1230-40 and 1.1210-15, more buy orders are expected at 1.1180, 1.1160-65 (stops below) and 1.1150, buyers are expected at 1.1135, 1.1120 and 1.1100-05 (stops below), buying interest should emerge around 1.1085, 1.1065 and 1.1050. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea Update: EUR/USD - Buy at 1.1230The single currency has surged again after brief pullback, adding credence to our view that a temporary low has been formed at 1.1105 yesterday and mild upside bias remains for retracement of recent decline to bring further gain to 1.1280-85 (50% Fibonacci retracement of 1.1460-1.1105), then towards 1.1324-30 (61.8% Fibonacci retracement and previous resistance) Trade Idea Update: GBP/USD - Stand asideAs the British pound has fallen again after meeting renewed selling interest at 1.5286, suggesting the selloff from 1.5659 top is still in progress and downside risk remains for further weakness to 1.5195-00, however, loss of downward momentum should prevent sharp fall below previous chart support at 1.5164 and reckon 1.5130-35 (50% projection of 1.5529-1.5221 measuring from 1.5286) would hold Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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