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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Euro Pares Some Loss after PMIs Euro dipped initially today against dollar but recovered mildly after better than expected PMI data. Eurozone PMI composite rose to 54.4 in November, up fro 53.9 in October and hit the highest level since May 2011. Eurozone PMI manufacturing rose to 52.8 versus expectation of 52.3 while PMI services rose to 54.6 versus expectation 54.2. German PMI manufacturing rose to 52.6 versus expectation of 52.2 while PMI services rose to 55.6 versus expectation of 54.3. French PMI manufacturing rose to 50.8 versus expectation of 50.7 but PMI services dropped to 51.3 versus expectation of 52.1. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0671; (P) 1.0717 (R1) 1.0778; More..... The breach of 1.0616 temporary low suggests that recent fall is resuming. Intraday bias is back on the downside for a test on 1.0467 low first. Decisive break there will confirm down trend resumption and target 50% projection of 1.3993 to 1.0461 from 1.1713 at 0.9947 next. However, considering bullish convergence condition in 4 hours MACD, break of 1.0762 resistance will indicate short term bottoming and bring stronger rebound. 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
8:00	EUR	France Manufacturing PMI Nov P	50.8	50.7	50.6
8:00	EUR	France Services PMI Nov P	51.3	52.1	52.7
8:30	EUR	Germany Manufacturing PMI Nov P	52.6	52.2	52.1
8:30	EUR	Germany Services PMI Nov P	55.6	54.3	54.5
9:00	EUR	Eurozone Manufacturing PMI Nov P	52.8	52.3	52.3
9:00	EUR	Eurozone Services PMI Nov P	54.6	54.2	54.1
15:00	USD	Existing Home Sales Oct		5.43M	5.55M

Orders and Options Watch

European Session: Orders and Options Watch

EUR: Euro fell initially to 1.0601 before recovering, bids remain above option barrier at 1.0600 (stops below), 1.0580-85 and 1.0550, buying interest is tipped at 1.0525-30 and 1.0500. On the upside, offers are now seen at 1.0650-55, 1.0680-85 and 1.0700, sell orders are expected at 1.0720-25, 1.0745 and 1.0760, selling interest should emerge around 1.0780-85 and 1.0800. Option expires today include: 1.0600, 1.0700 (near 1 bln), 1.0720 (1 bln), 1.0750 (larg) and 1.0770 (near 2 bln).

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Forex Trade Ideas

Trade Idea Update: GBP/USD - Sell at 1.5225

Cable's selloff after last week's rise to 1.5336 together with the breach of support at 1.5155 signals top has been formed there and bearishness remains for the fall from 1.5336 to extend weakness to 1.5110-15, however, break of 1.5090 is needed to signal early rebound from 1.5027 has ended, bring further subsequent decline to 1.5055-60.

Trade Idea Update: EUR/USD - Sell at 1.0670

Euro's intra-day breach of last week's low of 1.0617 signals recent decline is still in progress and may extend weakness to 1.0580-85 (61.8% projection of 1.1073-1.0674 measuring from 1.0831), then towards 1.0550-55, however, near term oversold condition should prevent sharp fall below latter level and price should stay above previous chart support at 1.0520, bring rebound later.