| Action Insight Mid-Day Report |
Markets in Range as Investors Calmed Down Markets are generally in tight range today with dollar a bit softer. The pull back in dollar is so far mild while the recovery in crude oil and gold lack follow through buying. It looks as if risk aversion flows in the markets pull back from last week's climax and investors have calmed down a bit. Some more consolidations would possibly be seen in near term. But, sterling, which faces some pressure on political issues today, would probably gyrate lower even though other currencies stay in range. Full Report Here... |
| Special Report |
Net Shorts In EUR Soared To Record High USD positions stayed in the positive territory for the second consecutive week, adding $3.55B to $3.81B in the week ended February 2. During the week, the largest changes came from declines in net longs in AUD and CAD, both being commodity currencies. Net shorts in EUR surged to a new record. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: EUR/USD - Sell At 1.3800 As the single currency has remained under pressure, suggesting recent decline is still in progress and weakness towards 1.3576 (61.8% projection of 1.4580 to 1.3851 measuring from 1.4027) is likely, however, oversold condition should prevent sharp fall below 1.3540/50 and reckon 1.3500 would hold from here, bring a rebound later this week. Full Report Here... Trade Idea: USD/JPY - Sell At 90.05 As the greenback has remained confined within narrow range as expected, suggesting further consolidation above last week's low of 88.55 would take place and although recovery to the Kijun-Sen (now at 89.92) cannot be ruled out, renewed selling should emerge below the Ichimoku cloud bottom (now at 90.26) and bring another decline later. Break of said support would extend the decline from 93.78 towards 88.32, however, loss of near term downward momentum would prevent sharp fall below 88.00 and reckon support at 87.36 would hold from here, bring strong rebound later. Full Report Here... |
| Featured Technical Report | Market Highlights |
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3592; (P) 1.3669; (R1) 1.3754; More. With 4 hours MACD crossed above signal line, an intraday low might be in place at 1.3585 and bias is turned neutral. Some more consolidations could be seen, but upside should be limited by 1.3852 support turned resistance and bring fall resumption. Below 1.3585 should target 61.8% retracement of 1.2329 to 1.5143 at 1.3404 first. Break will target 161.8% projection of 1.5143 to 1.4217 from 1.4578 at 1.3076 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPCAD | 1.6676 | 1.6747 | -71 | -0.43% | | NZDUSD | 0.6871 | 0.6894 | -23 | -0.33% | | AUDNZD | 1.2627 | 1.2586 | +41 | +0.32% | | CADJPY | 83.58 | 83.31 | +27 | +0.32% | | GBPCHF | 1.6721 | 1.6770 | -49 | -0.29% | Last Updated: Feb 08, 14:40 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 08, 14:40 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Current Account (JPY) Dec | 1.10T | 1.27T | 1.30T | | | 23:50 | JPY | Japan Money Stock M2+CD Y/Y Jan | 2.90% | 3.00% | 3.10% | | | 05:00 | JPY | Eco Watchers Survey: Current Jan | 38.8 | 35.9 | 35.4 | | | 06:45 | CHF | Unemployment Rate Jan | 4.10% | 4.30% | 4.20% | | | 08:15 | CHF | Retail Sales (Real) Y/Y Dec | 4.70% | 1.30% | 0.60% | | | 09:30 | EUR | Eurozone Sentix Investor Confidence Feb | -8.2 | -2.3 | -3.7 | | | 13:15 | CAD | Housing Starts Jan | 186K | 179.0K | 174.5K | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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