Action Insight Daily Report 2-1-11

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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: Dollar Soft on Commodities, Aussie Rebounds after RBA Dollar is back under pressure with the dollar index breaching last week's low of 77.60 to resume recent decline. Strong rally was seen in commodities on Egypt turmoil as the CRB index jumped 1.78% overnight, or 5.98 pts to close strongly at 341.42. WTI crude oil rose sharply to two year high and is staying firm above 92 level. Among major currencies, Sterling is the relatively stronger one as supported by BoE Weale's hawkish call for rate hike. On the other hand Australian dollar is the strongest currency today so far as supported by strong house price data and as RBA toned down the impact of flood to economy. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.9896; (P) 0.9942; (R1) 1.0020; More AUD/USD rebounds strongly to as high as 1.0036 so far today buy after all, it's still staying in range of 0.9803 and 1.0075 and outlook remains unchanged. Intraday bias remains neutral and some more sideway trading might be seen. But another fall is still in favor as long as 1.0075 resistance holds. Break of 0.9803 support will confirm resumption of whole fall from 1.0254 and will also affirm the case of medium term reversal. In such case, deeper decline should be seen to 0.9536 support for confirmation. On the upside, however, break of 1.0075 will flip bias back to the upside for a test on 1.0254 high 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

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RBA Leaves Cash Rate Unchanged, Expects Limited Impacts From Flooding The RBA left the cash rate unchanged at 4.75% for a second consecutive meeting after raising it for 7 times since October 2009. Policymakers appeared more optimistic towards the global economic outlook. Tightening bias remains and the central bank will probably hike interest rates again in 2Q11. Currently, the market has priced in a 16% chance the RBA will hike rates in June, up from +12% before the meeting. Read more...

Economic Indicators Update	This is the ultimate opportunity to meet face-to-face with industry leaders, test out the hottest products and software, and pick up trading ideas and strategies you can implement immediately to increase your percentage of profitable trades!  The New York Traders Expo.
GMT Ccy Events Actual Consensus Previous Revised 0:30 AUD NAB Business Confidence Dec -3 -- 6 0:30 AUD House Price Index Q/Q Q4 0.70% -0.20% 0.10% -0.30% 1:00 CNY PMI Manufacturing Jan 52.9 53.5 53.9 3:30 AUD RBA Rate Decision 4.75% 4.75% 4.75% 8:15 CHF Retail Sales (Real) Y/Y Dec -- 2.50% 8:30 CHF SVME PMI Jan 59.2 59.6 8:55 EUR German Unemployment Change Jan -10K 3K 8:55 EUR German Unemployment Rate Jan 7.50% 7.50% 8:55 EUR German PMI Manufacturing Jan 60.2 60.2 9:00 EUR Eurozone PMI Manufacturing Jan 56.9 56.9 9:30 GBP Mortgage Approvals Dec 47.0K 48.0K 9:30 GBP M4 Money Supply M/M Dec 0.30% -0.80% 9:30 GBP M4 Money Supply Y/Y Dec -- -1.40% 9:30 GBP PMI Manufacturing Jan 57.9 58.3 10:00 EUR Eurozone Unemployment Rate Dec 10.10% 10.10% 15:00 USD ISM Manufacturing Index Jan 57.9 57 15:00 USD ISM Prices Paid Jan 73.5 72.5 15:00 USD Construction Spending M/M Dec 0.10% 0.40%
Forex Trade Ideas
Trade Idea: USD/JPY – Sell at 82.40 As the greenback has fallen again after brief recovery yesterday, intra-day breach of yesterday's low at 81.77 signals recent fall from 83.70 is still in progress and may extend weakness to 81.50, however, loss of downward momentum should prevent sharp fall below 81.10-20 and reckon support at 80.93 should hold, bring rebound later. Read more... Trade Idea: EUR/USD – Stand aside As the single currency has maintained a firm undertone after yesterday's rally, suggesting a retest of last week's high at 1.3760 would be seen, however, break there is needed to confirm upmove has resumed and extend gain to 1.3790/00 but near term overbought condition should limit upside to 1.3850 and risk has increased for a retreat later. 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 EUR Back In The Spotlight Ahead Of Thursday's ECB Meeting Asia Session: Markets Eye Inflation... Daily Financial Market Outlook Egypt: U.S. Economic Exposure Traders Still Buying On Dips Technical Highlights Forex Technical Update Daily Technical Analysis The Daily Forecaster: EURJPY The Daily Wave Analysis GBP/USD Targets Higher Highs Australian Dollar Tests 200 Day SMA

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Action Insight Mid-Day Report 1-31-11

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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: Euro Rebounds on Strong CPI Reading Euro rebounds strongly today after CPI flash estimate beat expectations and accelerated to 2.4% yoy in January, highest level in more than two years. Based on recent inflation rhetoric from ECB Trichet, the stronger than expected inflation reading triggered more speculation that ECB would normalize rates sooner than previously thought. CPI is now above ECB's target of "below 2%, close to 2%" for the second month in a row and there is no sign of moderation yet. Markets are expecting a possible hike in Q4 but ECB might pull ahead if inflation outlook worsens. Though, after all, EUR/USD's is still kept below 1.3757 recent high on concern of continuation of Egypt protest. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3547; (P) 1.3646 (R1) 1.3710; More. EUR/USD drew strong support from 4 hours 55 EMA and rebounds today but upside is still limited below 1.3757 resistance. Intraday bias is neutral and some more consolidations could still be seen. Below 1.3570 will bring another fall but after all, we'd expect strong support above 1.3245 and bring rally resumption. As discussed before, whole decline from 1.4281 should have finished with three waves down to 1.2873 already. Above 1.3757 should bring another rise through 1.4 psychological level to retest 1.4281 key resistance first. 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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RBA To Leave Rates Unchanged, Monitoring Impacts From Floods This week is an eventful one in Australia with the RBA meeting on Tuesday and the release of the Statement on Monetary Policy on Friday. We expect policymakers to leave the cash rate unchanged at 4.75% as inflation has stayed in the lower half of the RBA's target band and extensive flooding in Queensland has disrupted the economy. Near-term growth and inflation outlook will be revised lower while those for the medium- to long-term should remain strong. The next rate hike will most likely happen in 2Q11. Read more...

Economic Indicators Update	This is the ultimate opportunity to meet face-to-face with industry leaders, test out the hottest products and software, and pick up trading ideas and strategies you can implement immediately to increase your percentage of profitable trades!  The New York Traders Expo.
GMT Ccy Events Actual Consensus Previous Revised 21:45 NZD Building Permits M/M Dec -18.60% -1.30% 8.80% 7.80% 21:45 NZD Trade Balance (NZD) Dec -250M 50M -186M 23:15 JPY Nomura/JMMA Manufacturing PMI Jan 51.4 -- 48.3 23:50 JPY Industrial Production M/M Dec P 3.10% 2.80% 1.00% 23:50 JPY Industrial Production Y/Y Dec P 4.60% 4.40% 5.80% 05:00 JPY Housing Starts Y/Y Dec 7.50% 4.60% 6.80% 10:00 EUR Eurozone CPI Estimate Y/Y Jan 2.40% 2.30% 2.20% 13:30 CAD GDP M/M Nov 0.40% 0.30% 0.20% 13:30 CAD Industrial Product Price M/M Dec 0.70% 0.60% 0.50% 0.60% 13:30 CAD Raw Materials Price Index M/M Dec 4.20% 3.20% 3.50% 13:30 USD Personal Spending Dec 0.40% 0.50% 0.40% 0.30% 13:30 USD Personal Income Dec 0.70% 0.40% 0.30% 0.40% 13:30 USD PCE Deflator Y/Y Dec 1.20% 1.30% 1.00% 1.10% 13:30 USD PCE Core M/M Dec 0.00% 0.10% 0.10% 13:30 USD PCE Core Y/Y Dec 0.70% 0.80% 0.80% 14:45 USD Chicago PMI Jan 65 68.6
Forex Trade Ideas
Trade Idea Update: USD/CHF –Sell at 0.9480 Dollar's near term sideways trading is expected to continue and only break of support at 0.9389 would confirm the decline from 0.9784 has resumed and extend weakness to 0.9350, however, loss of downward momentum should prevent sharp fall below support at 0.9323 and recent low at 0.9301 should hold from here. Read more... Trade Idea: AUD/USD –Hold short entered at 0.9980 Despite this morning's brief fall to 0.9866, as aussie has rebounded in tandem with euro, suggesting further consolidation would take place, however, as long as Friday's high at 0.9988 holds, bearishness remains for another retreat to said support. Looking ahead, only breach of support at 0.9832 would signal the correction from 0.9803 has ended at 1.0077 and bring resumption of the decline from 1.0257 top for retest of 0.9803, then 0.9750. 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 Euro-zone CPI Climbs to 2.4% in January, BOE Member Weale Calls for Rate Hike Now Egyptian Tensions Hit Global Markets Euroland: Inflation above ECB-Target for Two Months in a Row Markets Watching Events In Egypt Cautiously Technical Highlights EUR/USD in a Pullback in a Continuing Topping Attempt FX Thoughts for the Day EUR/USD Bearish Breakout FX Technical Analysis

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Action Insight Daily Report 1-31-11

Having trouble viewing this email? Click here

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: USD, CHF, JPY Mildly Higher as Egypt Unrest Continues Safe haven currencies, dollar, swissy and yen, are mildly firmer in the last trading day of January as Egypt's unrest continues. There are, firstly, concerns that if Egyptian President Hosni Mubarak is forced to resign, there will be another wave of risk aversion trades in the markets. Secondly, there is chance that the turmoil in Tunisia and Egypt will spread to other countries and make the whole Middle East unstable. Risk aversion will likely support dollar, swissy and yen in near term and traders liquidate positions. But we're not seeing clear sign of trend changes yet. That is, swiss franc, which has been in a larger up trend, is the favored one to bet on as the recovery in dollar and yen might eventually turned out to be corrective. Full Report Here...
Featured Technical Report
EUR/CHF Daily Outlook Daily Pivots: (S1) 1.2748; (P) 1.2873; (R1) 1.2941; More Intraday bias in EUR/CHF remains on the downside for the moment for 1.2724 support first. Break there will confirm the bearish case that corrective rebound from 1.2401 is completed at 1.3067 already. Also, in such case, the larger down trend would likely be resuming for another low below 1.2401, with next target at 61.8% projection of 1.3833 to 1.2401 from 1.3067 at 1.2182. On the upside, however, above 1.3000 minor resistance will dampen this view and bring another rise to extend the correction to above 1.3067 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	This is the ultimate opportunity to meet face-to-face with industry leaders, test out the hottest products and software, and pick up trading ideas and strategies you can implement immediately to increase your percentage of profitable trades!  The New York Traders Expo.
GMT Ccy Events Actual Consensus Previous Revised 21:45 NZD Building Permits M/M Dec -18.60% -1.30% 8.80% 7.80% 21:45 NZD Trade Balance (NZD) Dec -250M 50M -186M 23:15 JPY Nomura/JMMA Manufacturing PMI Jan 51.4 -- 48.3 23:50 JPY Industrial Production M/M Dec P 3.10% 2.80% 1.00% 23:50 JPY Industrial Production Y/Y Dec P 4.60% 4.40% 5.80% 5:00 JPY Housing Starts Y/Y Dec 7.5% 4.60% 6.80% 10:00 EUR Eurozone CPI Estimate Y/Y Jan 2.30% 2.20% 13:30 CAD GDP M/M Nov 0.30% 0.20% 13:30 CAD Industrial Product Price M/M Dec 0.60% 0.50% 13:30 CAD Raw Materials Price Index M/M Dec 3.20% 3.50% 13:30 USD Personal Spending Dec 0.50% 0.40% 13:30 USD Personal Income Dec 0.40% 0.30% 13:30 USD PCE Deflator Y/Y Dec 1.30% 1.00% 13:30 USD PCE Core M/M Dec 0.10% 0.10% 13:30 USD PCE Core Y/Y Dec 0.80% 0.80% 14:45 USD Chicago PMI Jan 65 68.6
Forex Trade Ideas
Trade Idea: EUR/USD – Sell at 1.3675 Friday's selloff suggests a temporary top has been formed at 1.3760 last week and although euro has recovered after marginal fall to 1.3571 this morning, recovery should be limited to the Kijun-Sen (now at 1.3658) and price should falter below the Ichimoku cloud area (now at 1.3698-1.3709), bring another decline later. Read more... Trade Idea: USD/JPY – Stand aside Although the greenback has remained under pressure after Friday's selloff and retest of 81.85 support cannot be ruled out, loss of near term downward momentum should prevent sharp fall below there and reckon 81.50 would hold from here and risk has increased for a rebound later. 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 Risk Appetite Knocked Back With Eyes On Tensions In Egypt Asia Session: Egypt Unrest Hurts Risk... Daily Financial Market Outlook Egypt Uprising Brings Fear Back To Markerts Technical Highlights Forex Technical Update Daily Forex Update: GBP/JPY The Daily Forecaster: USDCAD The Daily Wave Analysis

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