| Action Insight Daily Report |
Dollar and Yen Sharply Lower on Risk Appetite, BOE and FOMC Minutes Watched Dollar and yen were sharply lower overnight as risk appetites returned and remain soft in Asian session today. Nikkei followed the 169 pts rally in DOW and rose 2.54% today to close at 10288. Commodities were also broadly strong with gold continuing to press 1120 level while crude oil stays above 77 level. Meanwhile, dollar index dropped sharply to as low as 79.59 and is pressing key near term support of 79.57 and is at a juncture on whether deeper pull back would be seen. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: EUR/USD - Buy At 1.3665 As the single currency staged a strong rebound on cross-buying in euro especially against Japanese yen, suggesting a temporary low has possibly been formed at 1.3532 last week and consolidation with upside bias is seen for test of resistance at 1.3840-51, however, a firm break 1.3869 (38.2% Fibonacci retracement of 1.4415 to 1.3532) is needed to add credence to this view and bring retracement of recent decline to 1.3930/35 (approx. 38.2% Fibonacci retracement of 1.4580 to 1.3532) later. Full Report Here... Trade Idea: USD/JPY - Buy At 89.80 As the greenback has continued to move higher partly due to active cross-selling in yen on risk appetite, suggesting low has been formed earlier at 88.55 and mild upside bias is seen for gain to 90.55 (38.2% Fibonacci retracement of 93.78 to 88.55), however, a firm break above there is needed to retain bullishness and bring stronger rebound towards resistance at 91.28 later. Having said that, price should falter well below resistance at 91.88 and bring retreat later this week. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/USD Daily Outlook Daily Pivots: (S1) 1.3644; (P) 1.3712; (R1) 1.3835; More. EUR/USD rebound strongly to as high as 1.3780 so far but after all, it's still staying below 1.3838 resistance. Rebound from 1.3633 is still expected to be relatively brief. Below 1.3633 will flip intraday bias back tot he downside and argue that recent decline is resuming for 61.8% retracement of 1.2329 to 1.5143 at 1.3404 and then 161.8% projection of 1.5143 to 1.4217 from 1.4578 at 1.3076 next. However, considering bullish convergence condition in 4 hours MACD and RSI, break of 1.3838 will indicate that a short term bottom is formed and strong rebound should then be seen to 1.4025 resistance or above. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDUSD | 0.7046 | 0.7070 | -24 | -0.34% | | AUDUSD | 0.9003 | 0.9020 | -17 | -0.19% | | NZDJPY | 63.59 | 63.71 | -12 | -0.19% | | USDCHF | 1.0680 | 1.0660 | +20 | +0.19% | | USDCAD | 1.0451 | 1.0434 | +17 | +0.16% | Last Updated: Feb 17, 07:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 17, 07:10 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:30 | AUD | Westpac Leading Index M/M Dec | 0.50% | -- | 1.00% | | | 23:50 | JPY | Tertiary Industry Index M/M Dec | -0.90% | -0.20% | -0.20% | -0.10% | | 9:30 | GBP | BoE Meeting Minutes | | -- | -- | | | 9:30 | GBP | Jobless Claims Change Jan | | -10.0K | -15.2K | | | 9:30 | GBP | Claimant Count Rate Jan | | 5.00% | 5.00% | | | 9:30 | GBP | ILO Unemployment Rate (3M) Dec | | 7.80% | 7.80% | | | 10:00 | EUR | Eurozone Trade Balance (EUR) Dec | | 3.9B | 3.9B | | | 13:30 | CAD | Wholesale Sales M/M Dec | | -- | 2.50% | | | 13:30 | USD | Housing Starts Jan | | 580K | 557K | | | 13:30 | USD | Building Permits Jan | | 620K | 653K | | | 13:30 | USD | Import Price Index M/M Jan | | 0.80% | 0.00% | | | 14:15 | USD | Industrial Production Jan | | 0.80% | 0.60% | | | 14:15 | USD | Capacity Utilization Jan | | 72.60% | 72.00% | | | 19:00 | USD | FOMC Meeting Minutes | | -- | -- | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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