| Action Insight Mid-Day Report | Euro Tumbles on Never-ending Greece Concerns Euro is sharply lower today as focus turned back to Greece again. There are fresh concern that the Eurozone aid package is against the spirit of the Maastricht Treaty which created the European Union and led to the creation Euro in the 90s. Economists claim that the treaty contains a clause preventing EU states from taking on the debt obligations of their neighbors. Joachim Starbatty, a leading economist and professor at Tuebingen University, said a suit might be filed at the Constitutional Court against the credit from euro states. Markets worry that Greece might in the end be not able to get the EUR 30b rescue from Eurozone members. The Greek 10 year bonds German bunds spread rose above 400bps again for the first time since the bailout package was announced over the weekend. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Stand Aside Despite yesterday's rise to 127.69, failure to extend further gain beyond there and the subsequent stronger-than-expected retreat partly due to comments from George Soros suggests recent upmove is not ready to resume yet and further choppy trading below 127.95 (wave i top) would take place, bring retracement to 125.06 (61.8% Fibonacci retracement of 123.43 to 127.69) cannot be ruled out, however, reckon 124.00 would hold and price should stay above support at 123.43, bring another rebound later this week. Full Report Here... Trade Idea: AUD/USD - Buy At 0.9170 Despite intra-day marginal rise to 0.9365 (yesterday's high was 0.9361), as aussie has retreated in tandem with euro, suggesting further consolidation below resistance at 0.9389 (wave (i) top) would be seen and we are keeping our view that only a leg of wave (ii) has ended at 0.9223 and another fall in c leg of wave (ii) may bring weakness to 0.9195 (50% Fibonacci retracement of wave (i) from 0.9001) but 0.9149 (61.8% Fibonacci retracement) should hold, bring another rally later. Above said resistance at 0.9389 would signal upmove has resumed in wave (iii) for retest of chart resistance at 0.9407, then 0.9450. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3605; (P) 1.3642 (R1) 1.3689; More. EUR/USD drops sharply today and touches 4 hours 55 EMA as expected. Nevertheless, note that rise from 1.3282 is still in favor to continue as long as 1.3490 minor support holds. Current price actions from 1.3691 are treated as pull back only. Break of 1.3691 will target 1.3817 or above to complete the rebound from 1.3266. However, note that break of 1.3490 support will suggest that rise from 1.3282 has completed and will flip intraday bias back to the downside for 1.3266/3282 support zone. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | EURUSD | 1.3558 | 1.3653 | -95 | -0.70% | | EURJPY | 126.42 | 127.28 | -86 | -0.68% | | EURCAD | 1.3540 | 1.3631 | -91 | -0.67% | | USDCHF | 1.0582 | 1.0517 | +65 | +0.61% | | CHFJPY | 88.10 | 88.61 | -51 | -0.58% | Last Updated: Apr 15, 13:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Apr 15, 13:05 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 22:30 | NZD | Business NZ Performance of Manufacturing Index Mar | 56.3 | -- | 53.3 | 53.6 | | 23:00 | USD | Fed Sack Speaks | | -- | -- | | | 23:01 | GBP | Nationwide Consumer Confidence Mar | 72 | 81 | 80 | 81 | | 01:00 | AUD | Consumer Inflation Expectation Apr | 4.10% | -- | 3.20% | | | 04:30 | JPY | Industrial Production M/M Feb F | | -0.90% | -0.90% | | | 04:30 | JPY | Industrial Production Y/Y Feb F | | 31.30% | 31.30% | | | 08:00 | EUR | ECB Monthly Report | | -- | -- | | | 12:30 | USD | Empire State Manufacturing Apr | | 24 | 22.86 | | | 12:30 | USD | Initial Jobless Claims | | 440K | 460K | | | 13:00 | USD | Net Long-term TIC Flows Feb | | 39.2B | 19.1B | | | 13:15 | USD | Industrial Production Mar | | 0.70% | 0.10% | | | 13:15 | USD | Capacity Utilization Mar | | 73.30% | 72.70% | | | 14:00 | USD | Philly Fed Survey Apr | | 20 | 18.9 | | | 14:30 | USD | Natural Gas Storage | | 81B | 31B | | | 14:30 | USD | Fed Lacker Speaks | | -- | -- | | | 16:15 | USD | Fed Bullard | | -- | -- | | | 17:00 | USD | NAHB Housing Market Index Apr | | 16 | 15 | | | 17:40 | USD | Fed Lockhart Speaks | | -- | -- | | | 19:00 | USD | Former Fed Chairman Volcker Speaks | | -- | -- | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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