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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 |
Daily Report: Yen Retreats as Markets Calmed Down, Consolidations aheadYen retreats mildly in steady markets and market sentiments stabilized a bit. Asian equities opened lower but recovered on bargain hunting as the session went on. Crude oil stays in tight range below 76 while gold hovers around 1240 level. Dollar index lost momentum ahead of 86.42 resistance and turned sideway. Markets might enter into consolidation phase first but beware of volatility from US ADP employment and Canada GDP. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.8398; (P) 0.8559; (R1) 0.8647; More AUD/USD's break of 0.8505 support suggests that rebound from 0.8079 has completed. Also, the three wave consolidation from 0.8066 might have completed at 0.8858 too, just ahead of 61.8% retracement of 0.9380 to 0.8066. Intraday bias is flipped back to the downside and further decline would now be seen to retest 0.8066/8079 support first. On the upside, above 0.8595 minor resistance will turn intraday bias neutral again. |
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| Special Report |
Euro To Resume Weakness After Brief Rebound, ECB On Hold Until 2H11The euro has rebounded broadly since early June despite continued concerns about sovereign crisis in the Eurozone and uncertainty about the banking system. In our opinion, the rebound has been driven by well-received auctions for peripheral European bonds and the fact that the ECB has not been required to purchase a large amount of bonds in the secondary market. At the same time, squaring of extended short euro positions has also helped the currency. Market Sentiment Worsened And Peripheral Bond Yields SoaredGlobal sentiment weakened last week as disappointing macroeconomic data reignited worries over sovereign crisis in the Eurozone and its impacts on global recovery. Fitch Ratings' downgrade of a French bank S&P's warning regarding stability of Spanish as well as releases of European bank stress tests unveiled deficit problems in Europe have yet to be resolved. |
| Economic Indicators Update |
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Trade Idea: USD/CHF – Sell at 1.0930Despite yesterday's marginal fall to 1.0803, lack of follow through selling suggests consolidation would be seen and recovery to Kijun-Sen (now at 1.0852) is likely, above would bring retracement to yesterday's high at 1.0903, however, renewed selling interest should emerge around the Ichimoku cloud top (now at 1.0933) and bring another decline. Trade Idea: USD/JPY – Sell at 89.15As dollar has recovered after falling to 88.29 yesterday, suggesting minor consolidation would be seen and retracement to 88.90/95 is likely, however, renewed selling interest should emerge around the Ichimoku cloud bottom (now at 89.17) and bring another decline towards chart support at 87.95. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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