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| 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 |
Mid-Day Report: Stocks and Euro Hit by Spain, But Loss LimitedMarkets sentiments are mildly hit by renewed concern in the financial health of Eurozone countries. European major indices give up earlier gains and turned read but loss is so far limited. DOW opens lower but is being resilient to 11000 level so far. Crude oil continues to struggle around 70 level while gold is attempting to rebound back above 1190. Existing home sales in US rose more than expected to 5.77m annualized rate in April but the data has little impact to markets so far. |    |
| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 1.1479; (P) 1.1486; (R1) 1.1499; More. USD/CHF's break of 1.1585 resistance suggests that recent rally has resumed. Intraday bias is back on the upside for 161.8% projection of 1.0131 to 1.0897 from 1.0434 at 1.1673 first. Break will target medium term resistance of 1.1963 next. On the downside, note that break of 1.1447 support will indicate that a short term top is formed formed with bearish divergence condition in 4 hours MACD. In such case, deeper pull back would be seen towards 1.0922/1244 support zone before staging another rise. |
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| Special Report |
EU Crisis Update: Market Remained Weak Despite Stabilization. Risk To The DownsideAfter a meeting in Brussels last Friday, EU finance ministers agreed to impose tougher sanctions against member countries that do not adhere to the region's budget rules. Policymakers agreed to reach greater budget discipline, find ways to reduce the divergence in competitiveness between the member states, endorse a crisis management mechanism in order to deal with deficit crisis should it happen again as well as strengthen economic governance so as to act in a more coordinated and efficient manner. |
| Economic Indicators Update |
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Trade Idea Update: GBP/USD – Sell at 1.4460As the British pound extended intra-day fall from 1.4529 as suggested in our previous update, we are keeping our view that correction from 1.4228 has possibly ended there and consolidation with downside bias remains, however, break of support at 1.4317 is needed to signal decline has resumed and then further weakness to 1.4270 would follow but reckon support at 1.4228 would hold from here. Trade Idea Update: USD/JPY – Sell at 90.80As dollar has recovered again after holding above indicated Kijun-Sen level (now at 89.89.84), near term upside bias remains for another corrective rise to the Ichimoku cloud top (now at 90.58), however, renewed selling interest should emerge below previous support at 90.85-95 and bring retreat later. | |||||||||||||||||||||||||||||||
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Trade Idea: USD/CAD – Hold long entered at 1.0560Despite last week's marginal rise to 1.0753, lack of follow through buying on the break of previous resistance at 1.0750 and the retreat from 1.0753 suggest caution on our long and 1.0490/00 must hold for prospect of another rally later. A firm break above said resistance would signal wave iii is underway and extend gain to 1.0865/70 later. Trade Idea: EUR/JPY – Buy at 110.70The single currency resumed recent decline as expected in our previous update and our short position entered at 113.60 met downside target at 110.60, price subsequently fell to as low as 109.47 last Thursday before rebounding back to 114.40. | |||||||||||||||||||||||||||||||
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