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Mid-Day Report: Risk Off Sentiments StabilizedWhile Asian equities ended the day broadly lower, European indices reversed earlier losses and turned positive as risk sentiments stabilized. US futures also point to a flat open. Investors calmed down from the shock of terror attacks in Paris last Friday and France's subsequent retaliation. Some economic data are released in the early US session but markets paid little attention. US Empire State manufacturing index rose to -10.7 in November but missed expectation of -5. Canadian manufacturing shipments dropped -1.% mom in September versus expectation of 0.3% mom. Canadian international securities transactions dropped to CAD 3.35b in September. | |
Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 122.37; (P) 122.68; (R1) 122.92; More... USD/JPY recovers after initial dip today but is staying below 123.59 temporary top. Intraday bias remains neutral first and more consolidations could still be seen. As long as 121.46 resistance turned support holds, further rise is expected in USD/JPY. Above 123.59 will target 125.27/85 resistance zone. Decisive break there will confirm up trend resumption and will target 130 handle. Though, firm break of 121.46 will argue that the near term move has reversed. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency traded narrowly, offers are still noted at 1.0760, 1.0780-85 and 1.0800, sell orders are reported at 1.0820 and 1.0845-50, selling interest is tipped at 1.0885 and 1.0900. On the downside, bids are seen at 1.0700, 1.0685 and 1.0665, buy orders are expected at 1.0650, 1.0630 and 1.0600, buying interest should emerge around 1.0580 and 1.0550. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: USD/CHF - Buy at 1.0035Dollar's breach of 1.0087 on Friday signals recent upmove has resumed and further gain towards 1.0129-34 (previous resistance and 61.8% projection of 0.9476-0.9958 measuring from 0.9836) would be seen, however, break there is needed to retain bullishness and extend medium term uptrend to 1.0150 and possibly towards 1.0175-80. Trade Idea Update: GBP/USD - Hold short entered at 1.5215Cable met resistance at 1.5242 and has slipped again today, retaining our view that top was possibly formed at 1.5265 on Friday and consolidation with downside bias remains, a break of 1.5170-75 would add credence to this view, bring weakness to support at 1.5134, below there would suggest the rebound from 1.5027 has ended, then further fall to 1.5090-00 would follow, break there would provide confirmation. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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