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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Market Overview | Markets Snapshot |
Mid-Day Report: Renewed Selling Seen in Dollar as Range Trading ContinuesSome renewed selling is seen in dollar in early US session as recent sideway trading continues. Commodity currencies are generally higher while Yen weakens. Released from US, housing starts rose to 1.21m annualized rate in September but building permits dropped to 1.10m. Canada wholesale sales dropped -0.1% mom in August. Eurozone current account surplus narrowed to EUR 17.7b in August. German PPI dropped sharply by -0.4% mom, -2.1% yoy in September. Swiss trade surplus widened to CHF 3.05b in September. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9505; (P) 0.9528; (R1) 0.9561; More.... No change in USD/CHF's outlook. With 0.9585 minor resistance intact, further fall is still expected towards lower trend line (now at 0.9352). Recent price actions are viewed as a triangle pattern. Strong support should be seen above 0.9256 to contain downside and bring rebound. Above 0.9585 minor resistance will turn focus back to 0.9842 resistance. And, an eventual upside breakout is still favored. Decisive break of 0.9842 would target 1.0127 resistance. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency retreated after meeting resistance at 1.1387, offers at 1.1375-80 were filled but sell orders are still noted at 1.1400 and 1.1425-30, selling interest is tipped at 1.1455-60, 1.1485 and 1.1500. On the downside, bids are seen at 1.1325-30, 1.1300 and 1.1285, buy orders are expected at 1.1265 and 1.1250, buying interest should emerge around 1.1230 and 1.1200. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: EUR/USD - Sell at 1.1430As the single currency has rebounded after falling to 1.1306 yesterday, suggesting consolidation above this level would be seen and recovery to 1.1395-00 cannot be ruled out, however, if our view that top has been formed at 1.1495 is correct, upside should be limited to 1.1430 and bring another decline to 1.1295 Trade Idea Update: USD/JPY - Buy at 118.90The greenback has risen again after brief pullback, adding credence to our view that low has been formed at 118.06 last week and consolidation with upside bias remains for further gain towards 120.00, however, only a break of resistance at 120.35 would provide confirmation and encourage for headway towards 120.57 resistance which is likely to hold 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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