Action Insight Weekly Report 7-2-11

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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 Weekly Report	Markets Snapshot
Risk Appetite Surged as on Greece Resolution, Swiss Franc Reversed Risk sentiments had a drastic turnaround last week as Greece has secured the fifth tranche of bailout fund from EU at EUR 12b to avoid and immediate default. The strong rebound in US equities was impressive with DOW and S&P up 5.4% and 5.6% respectively during the week, both posting largest weekly gains since July 2009. Canadian dollar, Australian dollar and New Zealand were the strongest currencies last week in the risk seeking environment and were support by rebound in commodities in general. Meanwhile, safe haven assets suffered. Swiss Franc had a sharp and broad based reversal after making record highs against most major currencies in June. Gold, on the other hand, also tumbled through 1500 level against dollar and was extremely weak against Euro. Euro was the strongest among European majors while dollar was weak except versus yen and swissy. Full Report Here...
Featured Technical Report
EUR/CHF Weekly Outlook EUR/CHF's strong rebound to 1.2332 last week suggests that fall from 1.3233 has finished at 1.1807 and a short term bottom is formed. Initial bias remains on the upside this week for further rise to 61.8% retracement of 1.3233 to 1.1807 at 1.2688. On the downside, below 1.2185 minor support will turn bias neutral and bring consolidations. But downside should be contained by 4 hours 55 EMA (now at 1.2070) and bring another rise. We'd expect consolidations from 1.1807 to continue for a while. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

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Suggested Readings

The Week in Review and Preview Risk is Back from the Brink Weekly Economic and Financial Commentary Diverging Policy Decisions Through 'Soft Patch' The Weekly Bottom Line Greek Default Averted for the Time Being

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Action Insight Mid-Day Report 7-1-11

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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: Dollar Mildly up against Yen, Swissy after Strong ISM Manufacturing Manufacturing data is the main driver in the markets today. Risk appetite, as well as the greenback are given a boost by stronger than expected ISM manufacturing index. The index rose to 55.3 in May versus consensus of a fall to 51.5. Strength is seen broadly in most components, in particular with employment climbed from 58.2 to 59.9. The US recovery slowed a bit in Q2 but is possibly regaining momentum into Q3. DOW rose more than 100 pts with support from the data while the Japanese yen is broadly lower. Dollar is lifted mildly but there is no follow through selling so far. Full Report Here...
Featured Technical Report
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.8318; (P) 0.8391; (R1) 0.8477; More. USD/CHF rises sharply to as high as 0.8524 so far and intraday bias remains on the upside for 0.8550 resistance first. Break will put 55 days EMA (now at 0.8619) into focus. On the downside, though, below 0.8392 minor support will indicate that rebound from 0.8275 is possibly offer and will flip bias back to the downside for retesting this support. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Forex Brokers

Economic Indicators Update	Action Forex invites you to register for The Futures and Forex Expo Las Vegas, June 15-18, 2011 at Caesars Palace. Register now and prepare for three days that will get you on track for a profitable future! Don't miss out... register FREE today! The Summit will host top trading expert speakers, analysts and exhibitors, all meeting under one roof in a very relaxing environment, where everyone can exchange ideas, discover the Newest Comer to the market, analyze latest market trends explore different trading platforms, and explore a wide opportunity on future investments. Join us at the 9th ME Forex & Investment Summit 2011 Don't miss this year's World MoneyShow Toronto, September 8-10, 2011, at The Metro Toronto Convention Center. The World MoneyShow is your one-stop resource for the most comprehensive education, efficient research, and valuable advice. Don't miss out... Register Free Today!
GMT Ccy Events Actual Consensus Previous Revised 23:30 JPY Household Spending Y/Y May -1.90% -1.70% -3.00% 23:30 JPY Unemployment Rate May 4.50% 4.80% 4.70% 23:30 JPY Tokyo Core CPI Y/Y Jun 0.10% 0.20% 0.10% 23:30 JPY National Core CPI Y/Y May 0.60% 0.50% 0.60% 23:50 JPY Tankan Large Manufacturers Index Q2 -9 -7 6 23:50 JPY Tankan Non-Manufacturing Index Q2 -5 -4 3 01:00 CNY PMI Manufacturing Jun 50.9 51.5 52 07:30 CHF SVME-PMI Jun 53.4 57.8 59.2 08:00 EUR Eurozone PMI Manufacturing Jun F 52 52 52 08:30 GBP PMI Manufacturing Jun 51.3 52.3 52.1 09:00 EUR Eurozone Unemployment Rate May 9.90% 9.90% 9.90% 13:55 USD U. of Michigan Confidence Jun F 71.5 72 71.8 14:00 USD Construction Spending M/M May -0.60% 0.00% 0.40% 14:00 USD ISM Manufacturing Jun 55.3 51.5 53.5 14:00 USD ISM Prices Paid Jun 68 72 76.5
Forex Trade Ideas
Next Candlesticks and Ichimoku Trade Idea update will be made on Monday 4 July. Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400
Suggested Readings
Fundamental Highlights ISM Manufacturing Index Comes in Better Than Expected, USD Gains on EUR, JPY Chinese Manufacturing Activity Slows in June, Will AUD/USD Still Break its Month-Long Range? Swiss Franc Knocked off its Pedestal Japan's Tankan and US GDP London Session: Focus Turns Back To Economics Technical Highlights EUR/GBP Observes Bearish Divergence after Wave Equality Short-Term Elliott Wave Count for GBP/JPY; Double 3's Corrective Structure USD/CHF: From Short-term to Long-Term Wedge Patterns; 0.8555 is Critical EUR/USD's Triangle Scenario Based on Elliott Wave Structure Ones To Watch: EURCHF

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Action Insight Daily Report 7-1-11

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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: Risk Appetite Recedes Mildly after China Data, Euro Firm Risk appetites cool a bit today after disappointing China PMI data. Both the official manufacturing PMI and the one complied by HSBC indicated the country's manufacturing sector has slowed down in June. The China Federation of Logistics and Purchasing reported the index fell to 50.9, the lowest level since February 2009, in June from 52 in May. Meanwhile, the HSBC PMI data dropped to a 11-month low of 50.1 in June. Aussie pared some of recent gains against the greenback after the data on the country's strong tie to China. But loss is so far limited as dollar remains broadly weak. Full Report Here...
Featured Technical Report
EUR/JPY Daily Outlook Daily Pivots: (S1) 116.23; (P) 116.72; (R1) 117.31; More EUR/JPY's rebound extends further to as high as 117.29 so far and intraday bias remains on the upside for 117.88 resistance. As noted before break of 117.88 will complete a double bottom reversal pattern and should turn outlook bullish for a retest on 123.31 resistance next. On the downside, though, below 115.12 will flip bias back to the downside and break of 113.41/49 support will will resume the decline from 123.31 instead. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Forex Brokers

Economic Indicators Update	Action Forex invites you to register for The Futures and Forex Expo Las Vegas, June 15-18, 2011 at Caesars Palace. Register now and prepare for three days that will get you on track for a profitable future! Don't miss out... register FREE today! The Summit will host top trading expert speakers, analysts and exhibitors, all meeting under one roof in a very relaxing environment, where everyone can exchange ideas, discover the Newest Comer to the market, analyze latest market trends explore different trading platforms, and explore a wide opportunity on future investments. Join us at the 9th ME Forex & Investment Summit 2011 Don't miss this year's World MoneyShow Toronto, September 8-10, 2011, at The Metro Toronto Convention Center. The World MoneyShow is your one-stop resource for the most comprehensive education, efficient research, and valuable advice. Don't miss out... Register Free Today!
GMT Ccy Events Actual Consensus Previous Revised 23:30 JPY Household Spending Y/Y May -1.90% -1.70% -3.00% 23:30 JPY Unemployment Rate May 4.50% 4.80% 4.70% 23:30 JPY Tokyo Core CPI Y/Y Jun 0.10% 0.20% 0.10% 23:30 JPY National Core CPI Y/Y May 0.60% 0.50% 0.60% 23:50 JPY Tankan Large Manufacturers Index Q2 -9 -7 6 23:50 JPY Tankan Non-Manufacturing Index Q2 -5 -4 3 1:00 CNY PMI Manufacturing Jun 50.9 51.5 52 7:30 CHF SVME-PMI Jun 57.8 59.2 8:00 EUR Eurozone PMI Manufacturing Jun F 52 52 8:30 GBP PMI Manufacturing Jun 52.3 52.1 9:00 EUR Eurozone Unemployment Rate May 9.90% 9.90% 13:55 USD U. of Michigan Confidence Jun F 72 71.8 14:00 USD Construction Spending M/M May 0.00% 0.40% 14:00 USD ISM Manufacturing Jun 51.5 53.5 14:00 USD ISM Prices Paid Jun 72 76.5
Forex Trade Ideas
Next Candlesticks and Ichimoku Trade Idea update will be made on Monday 4 July. Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400
Suggested Readings
Fundamental Highlights Asia Session: A Calm End To A Busy Week Daily Financial Market Outlook FX Majors Stalling At Highs Dollar Softer as Risk Sentiment Advances Chicago Data Sparks Rout for Bonds Technical Highlights Daily FX Strategy Daily Technical Analysis Foreign Exchange Market Commentary Sterling Fell Against The Rising Dollar To 1.6005 In Asian Trading Dollar Yen Rallies To 80.85 In Tokyo The Daily Forecaster: USDJPY Euro Edges Lower To 1.4465 In Early Tokyo Daily Forex Update: GBP/NZD

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Action Insight Mid-Day Report 6-30-11

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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: Commodity Currencies Soar on Risk Appetite Commodity currencies are all strong today as boosted by recovery in global risk appetite on optimism that Greece would avoid an immediate default. Data from Canada maintains a firm tone in the loonie. Canadian GDP avoided a contraction in May and was flat m/m. Crude oil is staying firm around 95 level for the moment and helps support the loonie, which will likely extend the CPI triggered rally against dollar in near term. This week's data fuel speculation that while BoC would likely be on hold in Q3, it may restart tightening in Q4. Full Report Here...
Featured Technical Report
USD/CAD Mid-Day Outlook Daily Pivots: (S1) 0.9650; (P) 0.9737; (R1) 0.9785; More. USD/CAD's decline is still in progress and reaches as low as 0.9653 so far in early US session. Intraday bias remains on the downside with 0.9714 minor resistance intact. As noted before, , rebound from 0.9444 low should have completed at 0.9912 already. Further decline is now expected to retest 0.9444 low next. On the upside, above 0.9714 minor resistance will turn bias neutral and bring consolidations. But recovery should bel limited below 0.9912 resistance and bring fall resumption. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Forex Brokers

Economic Indicators Update	Action Forex invites you to register for The Futures and Forex Expo Las Vegas, June 15-18, 2011 at Caesars Palace. Register now and prepare for three days that will get you on track for a profitable future! Don't miss out... register FREE today! The Summit will host top trading expert speakers, analysts and exhibitors, all meeting under one roof in a very relaxing environment, where everyone can exchange ideas, discover the Newest Comer to the market, analyze latest market trends explore different trading platforms, and explore a wide opportunity on future investments. Join us at the 9th ME Forex & Investment Summit 2011 Don't miss this year's World MoneyShow Toronto, September 8-10, 2011, at The Metro Toronto Convention Center. The World MoneyShow is your one-stop resource for the most comprehensive education, efficient research, and valuable advice. Don't miss out... Register Free Today!
GMT Ccy Events Actual Consensus Previous Revised 22:45 NZD Building Permits M/M May 2.20% 3.20% -1.60% -1.20% 23:01 GBP GfK Consumer Sentiments Jun -25 -24 -21 23:15 JPY Nomura/JMMA Manufacturing PMI Jun 50.7 51.3 01:00 NZD NBNZ Business Confidence Jun 46.5 38.3 05:00 JPY Housing Starts Y/Y May 6.40% 3.10% 0.30% 07:55 EUR German Unemployment Change Jun -8K -17K -8K 07:55 EUR German Unemployment Rate Jun 7.00% 7.00% 7.00% 08:00 EUR Eurozone M3 Y/Y May 2.40% 2.10% 2.00% 09:00 EUR Eurozone CPI Estimate Y/Y Jun 2.70% 2.80% 2.70% 12:30 USD Initial Jobless Claims 428K 420K 429K 12:30 CAD GDP M/M May 0.00% -0.10% 0.30% 13:45 USD Chicago PMI Jun 54 56.6 14:30 USD Natural Gas Storage 80B 98B
Forex Trade Ideas
Trade Idea Update: EUR/USD – Buy at 1.4350 Despite intra-day marginal rise to 1.4522, as the currency pair has retreated on the back of intra-day selloff in cable, suggesting consolidation below said resistance would take place and pullback to the Kijun-Sen (now at 1.4426) cannot be ruled out, however, downside should be limited to the Ichimoku cloud top (now at 1.4365) and support at 1.4320 should hold, bring another rise later. Read more... Trade Idea: AUD/USD – Buy at 1.0605 This week’s rally from 1.0390 signals the a-b-c correction from 1.1012 top has ended there and consolidation with upside bias is seen for test of previous resistance at 1.0775 (wave b top), however, a sustained breach above there is needed to add credence to this view and extend gain to 1.1820/30 but break of previous resistance at 1.0889 is needed to signal upmove has resumed. Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400
Suggested Readings
Fundamental Highlights German Banks On Board for Rollover, Retail Sales Fall, Total Unemployed Falls Below 3 Million Wage Growth and the UK 100: More than Meets the Eye London Session: ECB Stays Hawkish As Athens Burns Summer Risk Rally In Effect Technical Highlights Ones to Watch: EURGBP FX Thoughts for the Day GBPUSD - Reverses Gains, Set For 1.5911 Level

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