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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Euro Tumbles as ECB Draghi Hints on More Stimulus Euro drops sharply as ECB president Mario Draghi said in the post meeting conference that the central bank will re-examine the degree of stimulus in December meeting. Also, he emphasized that ECB is open to "a whole menu of monetary policy instruments". That is seen by the markets as a hint of extension or expansion of the quantitative easing program. Regarding the economy, Draghi noted that "concerns over growth prospects in emerging markets and possible repercussions for the economy from developments in commodity markets signal downside risks to the outlook for growth and inflation." Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.1322; (P) 1.1349 (R1) 1.1366; More..... EUR/USD's sharp fall today suggests that price actions from 1.1086 are merely a consolidation and could have completed at 1.1495 already. Fall from 1.1713 might be resuming. Intraday bias is cautiously on the downside for 1.1104 support. Break will confirm this case. More importantly, this week indicate that corrective rebound from 1.0461 has completed and will turn outlook bearish for retesting this low. Above, 1.1305 minor resistance will turn bias neutral first. In case of another rise, we'd expect strong resistance should be seen at 38.2% retracement of 1.3993 to 1.0461 at 1.1810 to finally bring near term reversal. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update

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GMT	Ccy	Events	Actual	Consensus	Previous	Revised
00:30	AUD	NAB Business Confidence Q3	0		4
08:00	EUR	ECB Monthly Bulletin
08:30	GBP	Retail Sales M/M Sep	1.90%	0.40%	0.20%	-0.40%
11:45	EUR	ECB Rate Decision	0.05%	0.05%	0.05%
12:30	CAD	Retail Sales M/M Aug	0.50%	0.10%	0.50%	0.60%
12:30	CAD	Retail Sales Less Autos M/M Aug	0.00%	0.10%	0.00%	0.10%
12:30	USD	Initial Jobless Claims (OCT 17)	259K	266K	255k	256K
13:00	USD	House Price Index M/M Aug	0.30%	0.50%	0.60%
14:00	EUR	Eurozone Consumer Confidence Oct A	-7.7	-7.5	-7.1
14:00	USD	Existing Home Sales Sep	5.55M	5.35m	5.31m
14:00	USD	Leading Indicators Sep	-0.20%	0.00%	0.10%
14:30	USD	Natural Gas Storage			100B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency tumbled today after ECB, bids at 1.1250, 1.1230, 1.1200, 1.1185 and 1.1165 were filled, however, some buy orders are still noted at 1.1150 and 1.1130, fresh demand is located at 1.1100 and 1.1070-75. On the upside, offers are lowered to 1.1220, 1.1250 and 1.1300, sell orders are expected at 1.1325-30 and 1.1350, selling interest should emerge around 1.1385-90 (stops above) and 1.1415-20, selling interest should emerge around 1.1450 and further out at 1.1490-00.

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Forex Trade Ideas

Trade Idea Update: GBP/USD - Sell at 1.5470

Although cable resumed recent rise to a marginal high of 1.5510, lack of follow through buying and the subsequent euro-led retreat signal top has been formed there and consolidation with downside bias is seen for at least a correction of recent rise, hence weakness to 1.5370 and then 1.5350-55 (50% Fibonacci retracement of 1.5201-1.5510) is likely

Trade Idea Update: EUR/USD - Sell at 1.1250

Current selloff on euro's broad-based weakness signals early erratic rise from 1.1087 has ended at 1.1495 and bearishness remains for further weakness to 1.1150-53 (previous support and 1.236 times projection of 1.1495-1.1306 measuring from 1.1387), then test of previous support at 1.1135