 |  |
| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
| Calendar | Elliott Wave Trades | Markets Volatility | Pivot Points | Heat Map | Daily Fundamentals |
| Action Insight Market Overview | Markets Snapshot |
Daily Report: Dollar and Yen Soft as Asian Stocks Rise for the Third DayDollar and yen trade with a soft tone today as Asian equities rally for the third day but range is tight so far. There were little reaction to poor data from Japan. National core CPI dropped -1.5% yoy in April while Tokyo core CPI dropped -1.6% yoy in May, both suggesting deflation is still a deep problem in Japan. Unemployment rate unexpectedly rose to 5.1% in April. Household spending also dropped -0.7% in April. Though, retail sales is better than expected and rose 4.9% yoy. From UK Gfk consumer confidence deteriorated to five month low of -18 in May. German import price rose 2.0% mom in April. Swiss trade surplus rose widened to CHF 2.02B in April. |    |
| Featured Technical Report | |
GBP/JPY Daily OutlookDaily Pivots: (S1) 130.19; (P) 131.58; (R1) 134.10; More GBP/JPY's rebound from 126.73 extends further to as high as 133.18 so far today. A short term bottom is in place at 126.73 with bullish convergence conditions in 4 hours MACD and RSI. Stronger recovery might be seen to 38.2% retracement of 145.94 to 126.73 at 134.06 and break will target 61.8% retracement at 138.60. On the downside, though, below 129.03 minor support will argue that such recovery has completed and will flip intraday bias back to the downside for 126.73 low first. |
| Forex Brokers | ||||||
|
| Special Report |
Libor Rate Rising, Reason and Implications on USDConcerns over contagion of Eurozone's sovereign crisis escalated after the Bank of Spain announced to take over a Cordoba-based savings bank, Cajasur, and stepped up efforts to merge the weakest of the countries' savings banks. The weakened financial position of banks has increased pressures in the funding market and several gauges have shown USD funding costs have been surging. |
| Economic Indicators Update |
Attend The Traders Expo in Los Angeles, June 9-12, at the Pasadena Convention Center; your best opportunity in 2010 to meet face to face with the experts, test the latest products and software, and network with other traders to find out what’s working for them…and what isn’t. Attend free, learn from trading experts, and become a more confident, profitable trader. Register FREE
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Candlesticks and Ichimoku Intraday Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: GBP/USD – Buy at 1.4460Despite yesterday's sharp retreat to 1.4409, as the British pound found renewed buying interest just above the Ichimoku cloud and rallied on cross-buying versus yen due to risk appetite, suggesting the corrective upmove from 1.4228 low may extend gain to 1.4635/40 (approx. 50% Fibonacci retracement of 1.5046 to 1.4228 and previous resistance), however, reckon 1.4700 would limit upside and 1.4723-34 (38.2% Fibonacci retracement of 1.5524 to 1.4228 and 50% Fibonacci retracement of 1.5046 to 1.4228) would hold. Trade Idea: EUR/USD – Buy at 1.2285Although yesterday's breach of 1.2388 resistance signals the intermediate fall from 1.2673 has formed a low at 1.2154, as price has retreated from 1.2395, suggesting initial consolidation would take place, however, reckon the Ichimoku cloud bottom (now at 1.2235) would limit downside and bring another rebound later. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
Technical Highlights | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||
No comments:
Post a Comment