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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Fresh Selling Seen in Euro Some fresh selling is seen in Euro in early US session in otherwise rather quiet markets. ECB governing council member Erkki Liikanen said today that Eurozone is facing downside risks in both inflation and growth. And the governing council "is willing and able to act by using all the instruments available within its mandate if warranted in order to maintain an appropriate degree of monetary accommodation." It's widely expected that ECB will adopt new stimulus measures in December. There are talks of extension or expansion of QE, and there are possibilities of rate cut. Nonetheless, There are also talks that if Fed does hike rates, that would push down Euro's exchange rate and lessen the need for ECB to add stimulus. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0716; (P) 1.0752 (R1) 1.0786; More..... EUR/USD's fall extends today and reaches as low as as 1.0681 so far. Intraday bias remains on the downside and current decline from 1.1713 should target a test on 1.0461 low. Decisive break there would target 50% projection of 1.3993 to 1.0461 from 1.1713 at 0.9947 next. On the upside, above 1.0896 minor resistance will turn bias neutral and bring consolidations before staging another decline. 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
23:50	JPY	Current Account (JPY) Sep	0.78T	1.50T	1.59T
00:01	GBP	BRC Sales Like-For-Like Y/Y Oct	-0.20%		2.60%
00:30	AUD	NAB Business Confidence Oct	2		5
00:30	AUD	Home Loans Sep	2.00%	0.10%	2.90%	1.50%
01:30	CNY	CPI Y/Y Oct	1.30%	1.50%	1.60%
01:30	CNY	PPI Y/Y Oct	-5.90%	-5.90%	-5.90%
05:00	JPY	Eco Watchers Survey: Current Oct	48.2	48.2	47.5
06:45	CHF	Unemployment Rate Oct	3.40%	3.40%	3.40%
13:30	USD	Import Price Index M/M Oct	-0.50%	-0.30%	-0.10%	-0.60%
15:00	USD	Wholesale Inventories Sep		0.10%	0.10%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency dropped again and bids at 1.0720, 1.0700 and 1.0685 were filled, however, buy orders are still noted at 1.0665 and 1.0650, buying interest should emerge around 1.0630 and 1.0600. On the upside offers are lowered to 1.0720-30, 1.0765 and 1.0780-85, sell orders are reported at 1.0800, 1.0820 and 1.0845-50, selling interest is tipped at 1.0885 and 1.0900.

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Forex Trade Ideas

Trade Idea Update: USD/CHF - Hold long entered at 1.0000

Current breach of yesterday's high at 1.0062 signals the pullback from last week's high of 1.0076 has ended at 0.9998 and bullishness remains for recent upmove to extend further gain to 1.0100, however, reckon 1.0129-34 (previous resistance and 61.8% projection of 0.9476-0.9958 measuring from 0.9836) would hold on first testing, risk from there is seen for a retreat later.

Trade Idea Update: EUR/USD - Sell at 1.0790

Current break of last week's low at 1.0707 signals recent decline has resumed and further weakness to 1.0670-75 would be seen, however, loss of downward momentum should prevent sharp fall below 1.0640-50 and price should stay well above 1.0600-10, risk from there is seen for another rebound later.