| Action Insight Daily Report | Yen Mildly Lower after Strong China Data, Dollar Firm Japanese yen is a touch softer in Asian session today after China released solid growth data. However, the reaction is so far mild as investors are still concerned that surging inflation and risk of asset bubbles would trigger more tightening measures from the Chinese government. Dollar index breached December's high of 78.45 overnight and remains firm. New Zealand dollar failed to react to stronger than expected retail sales data overnight and remains the weakest currency this week. Euro is the second weakest and remains broadly pressured and is vulnerable to PMI disappointment later today. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Sell At 1.4220 Despite intra-day brief fall to 1.4067, lack of follow through selling and the recovery from there suggest minor consolidation above this level would take place and retracement to the Tenkan-Sen (now at 1.4187) is likely, however, renewed selling interest should emerge around 1.4218 (previous support turned resistance) and the Tenkan-Sen (now at 1.4257) should hold, bring another selloff later towards 1.4015 (50% Fibonacci retracement of 1.2885 to 1.5145) which should hold on first testing due to near term oversold condition. Full Report Here... Trade Idea: USD/JPY - Sell At 92.45 The greenback just broke above the Ichimoku cloud bottom, suggesting the decline from 93.78 has formed a low at 90.31 earlier and mild upside bias is seen for retracement of this fall to 92.05 and then towards the upper Kumo (now at 92.25), however, reckon 92.45 (61.8% Fibonacci retracement of 93.78-90.31) would attract renewed selling interest and bring another selloff later. Below 90.79 (yesterday's low) would be the first sign that rebound from 90.31 has ended, then retest of this support would follow, break there would signal recent rise is still being corrected and bring further fall to 90.00 and possibly towards 89.50/60 but reckon 89.00 (100% projection of 93.78 to 90.73 measuring from 92.05) would hold. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Daily Outlook Daily Pivots: (S1) 1.4024; (P) 1.4160; (R1) 1.4239; More EUR/USD's fall extends further to as low as 1.4074, just inch above mentioned target of 38.2% retracement of 1.2329 to 1.5143 at 1.4068. Intraday bias remains on the downside for the moment and firm break of 1.4068 fibo level will set the stage for next medium cluster support level at 1.3737. On the upside, above 1.4172 minor resistance will suggest that a temporary low is formed and turn intraday bias neutral for consolidations. But recovery is expected to be limited well below 1.4578 resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 83.55 | 83.01 | +54 | +0.65% | | GBPAUD | 1.7805 | 1.7896 | -91 | -0.51% | | AUDNZD | 1.2665 | 1.2606 | +59 | +0.47% | | AUDUSD | 0.9132 | 0.9099 | +33 | +0.36% | | CADJPY | 87.49 | 87.18 | +31 | +0.35% | Last Updated: Jan 21, 07:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 21, 07:10 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | Retail Sales M/M Nov | 0.80% | 0.60% | 0.00% | 0.10% | | 21:45 | NZD | Retail Sales Ex-Auto M/M Nov | 0.80% | 0.30% | 0.50% | -0.10% | | 8:30 | EUR | German PMI Manufacturing Jan A | | 52.9 | 52.7 | | | 8:30 | EUR | German PMI Services Jan A | | 53 | 52.7 | | | 9:00 | EUR | Eurozone PMI Services Jan A | | 53.8 | 53.6 | | | 9:00 | EUR | Eurozone PMI Manufacturing Jan A | | 51.9 | 51.6 | | | 9:00 | EUR | ECB Monthly Bulletin | | -- | -- | | | 9:30 | GBP | Public Sector Net Borrowing (GBP) Dec | | 19.0B | 20.3B | | | 9:30 | GBP | M4 Money Supply M/M Dec P | | 0.90% | 0.10% | | | 9:30 | GBP | M4 Money Supply Y/Y Dec P | | 8.90% | 9.30% | | | 10:00 | CHF | ZEW Expectations Jan | | -- | 54 | | | 11:00 | GBP | U.K. CBI Quarterly Industrial Trends Jan | | -39 | -42 | | | 13:30 | CAD | Wholesale Sales M/M Nov | | 0.40% | 0.30% | | | 13:30 | USD | Initial Jobless Claims | | 440K | 444K | | | 15:00 | USD | Philadelphia Fed Survey Jan | | 18 | 20.4 | | | 15:00 | USD | Leading Indicators Dec | | 0.70% | 0.90% | | | 15:30 | USD | Natural Gas Storage | | -214B | -266B | | | 16:00 | USD | Crude Oil Inventories | | 2.2M | 3.7M | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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