Action Insight Daily Report 1-27-20

Euro and Sterling Dip after PMIs, Dollar and Canadian Firmer

Action Insight Daily Report 1-27-20 Coronavirus Worries Intensify; Stocks, Oil & Yuan Fall; Yen, Swiss & Gold Jump The holiday market in Asia is in deep risk aversion as worries on China's coronavirus intensified, after surge in confirmed cases and death tolls. Yen and Swiss Franc jump notably while New Zealand and Australian Dollars weaken. Risk aversion is also clearly seen as gold gaps up, oil price gaps down, and Chinese Yuan is in free fall. Technically, EUR/JPY's break of 120.17 support is seen as a strong sign of near term reversal. That is, whole corrective rise from 115.86 has completed at 122.87 already. A question now is whether USD/JPY (currently at 109.03), would break 107.65 support to align the outlook with EUR/JPY. In Asia, Nikkei is currently down -1.91%. Japan 10-year JGB yield is down -0.022 at -0.042. China, Hong Kong and Singapore are on lunar new year holiday. Full Report Here Chinese Yuan in free fall on coronavirus outbreak WTI oil gaps down, targeting 50.64 key support Gold gaps up, heading to retest 1611 high Markets in risk aversion as coronavirus spreads globally Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol CFTC Commitments of Traders – Traders Trimmed Bets on Crude Oil... CFTC Commitments of Traders – NET LENGTH on Crude Oil Futures... Markets Sold Off on Coronavirus Worries, Dollar Momentum to be Capped... Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/JPY Daily Outlook Daily Pivots: (S1) 120.19; (P) 120.73; (R1) 121.03; More.... EUR/JPY reaches as low as 119.93 so far as fall from 122.87 extends. Break of 120.17 support indicates completion of completion of corrective rise from 115.86, on bearish divergence condition in daily MACD. Further fall should be seen to retest 115.86 low. On the upside, above 121.26 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 122.87 resistance holds, in case of recovery. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Euro Area Research: From US-China Trade Ceasefire To US-EU Trade War? EUR/USD Remains At Risk Of More Downsides EURUSD Continues To Hold On To Short Term Downtrend Forex and Cryptocurrency Forecast Weekly Economic and Financial Commentary: Something in the Air The Weekly Bottom Line: This Is What It Feels Like…When Doves Guide Week Ahead: Coronavirus, FOMC, BOE, and Brexit Oil Market Week Ahead: Virus, Tesla and Hedge Fund Positioning Forward Guidance: Canadian growth concerns back in focus Week Ahead – Central Banks Back to the Fore Week Ahead – Fed to Stand Pat but BoE Could Cut; US and Eurozone Q4 GDP Eyed Cliff Notes: The Case for Monetary Easing in 2020 is Intact, Albeit with a Delay Weekly Focus – Concerns about Coronavirus Shake Markets Fundamental Analysis | Technical Analysis In-depth Reports The 2020 Election and the Economy: Part III January Flashlight for FOMC Blackout Period Canadian Trade Worries Easing, But Domestic Headwinds Remain US-China Phase I Trade Deal Signed, Execution & Phase II Negotiations the Next Focus Economic Calendar GMT Ccy Events Actual Forecast Previous Revised 09:00 EUR Germany IFO - Business Climate Jan 97 96.3 09:00 EUR Germany IFO - Expectations Jan 95 93.8 09:00 EUR Germany IFO - Current Assessment Jan 99.4 98.8 09:30 GBP BBA Mortgage Approvals Dec 44.0K 43.7K 15:00 USD New Home Sales M/M Dec 730K 719K 15:00 USD New Home Sales Change M/M Dec 0.80% 1.30%

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