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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: Yen Weakens in Range Bound Currency MarketsClear weakness is seen in the Japanese yen today in an otherwise ranging forex markets. Dollar retreats mildly as markets digest last week's sharp rally. But the greenback remains generally firm. Yen's decline is accompanied by the 377 pts, or 1.96% rally in Nikkei, which closed at 19642.74, highest in more than two months. Nonetheless, European indices are mixed while US futures point to a flat open. In other markets, crude oil recovers mildly but struggles to reclaim 45 handle. Gold also stays well below 1100. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 122.09; (P) 122.67; (R1) 123.73; More... USD/JPY rises further to as high as 123.21 so far today. Intraday bias remains on the upside for 125.27/85 resistance zone. Decisive break there will confirm up trend resumption and will target 130 handle. On the downside, below 122.68 minor support will turn bias neutral and bring consolidations before staging another rally. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchJPY: Dollar has continued to move higher after Friday's rally, offers at 123.20 and 123.50 were filled but sell orders are still noted at 123.75-80, 124.00 and 124.30, selling interest is tipped at 124.50, 124.75 and 125.00. On the downside, bids are raised to 123.20-25, 123.00 and 122.80, buy orders are expected at 122.50, 122.25 and 122.00, buying interest should emerge around 121.80 and 121.50-60. Option expires today include: 122.00. 122.50 and 123.00. | |||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||
Trade Idea Update: GBP/USD - Sell at 1.5170As cable has recovered after last week's selloff to 1.5027, suggesting minor consolidation above this level would be seen and corrective bounce to 1.5150-55 cannot be ruled out, however, reckon upside would be limited to 1.5170 (38.2% Fibonacci retracement of 1.5402-1.5027), bring another decline later, break of said support at 1.5027 would extend recent selloff to psychological support at 1.5000 Trade Idea Update: EUR/USD - Sell at 1.0840As the single currency has recovered after dropping to 1.0707 on Friday, suggesting minor consolidation would be seen and test of the Kijun-Sen (now at 1.0796) is likely, however, reckon previous support at 1.0834 would limit upside, bring another decline later, break of said support at 1.0707 would extend recent decline to 1.0670-75 but oversold condition should limit downside to 1.0650 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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