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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Market Overview | Markets Snapshot |
Daily Report: Risk Appetites Come Back, UK Job Data, BoC MPR WatchedRisk appetites are staging a mild come back in the markets as Asian equities are broadly higher following US stocks on optimism about earnings. Dollar continues to dip lower against other major currencies. In particular, Aussie is strong today and jumps to two week high against dollar on China growth optimism and rebound in Shanghais stocks. Euro is lagging behind as the meeting between European finance ministers yielded no agreements on expanding the crisis handling plan despite positive comments out of the meeting. Markets focus will remain on development in Eurozone as well as growth data in US. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.9926; (P) 0.9965; (R1) 1.0034; More AUD/USD's break of 1.0019 resistance indicates that rebound from 0.9803 has resumed. Intraday bias is back on the upside for 100% projection at 1.0072. Break there will target a retest on 1.0254 high. On the downside, below 0.9856 minor support will flip bias back to the downside for 0.9803 support instead. |
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| Special Reports |
BOC Keeps Overnight Rate at 1% and Raises GDP Growth for 2011 and 2012As expected, the Bank of Canada left the overnight rate unchanged at 1%, after raising it by +25 bps in September. Policymakers revised up economic growth outlook for 2011 and 2012 but reiterated that the economy will not reach full output until the end of 2012 while core rate of inflation will not rise to 2% until then. |
| 2011 Currency and Monetary Policy Outlook | 2011 Elliott Wave Forecast |
Franc's Safe-Haven Status Remains In 2011, SNB To Tighten In Mid-Year Read more... JPY to be Weighed Down by Lower Yields and BOJ's Additional Easing Read more... Fiscal Tightening the Main Theme for UK in 2011 Read more... Uneven Growth Story Prolongs EZ's Hard Time while Money-Printing Nature in SMP will Send Euro Lower Read more... US - A Shift from Monetary to Fiscal Stimulus Read more... |
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| Economic Indicators Update |
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| Forex Trade Ideas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: GBP/USD – Exit long entered at 1.5935Although the British pound has rebounded after finding renewed buying interest at 1.5933 overnight as suggested in our previous update (we recommended to buy cable at 1.5935), break of resistance at 1.6060 is needed to signal upmove from 1.5345 has resumed and extend gain to 1.6085-95 (previous chart resistance as well as 61.8% Fibonacci retracement of 1.5475 to 1.5889 measuring from 1.5832) Trade Idea: USD/JPY – Sell at 82.80As the greenback has fallen again after meeting renewed selling interest around previous resistance at 82.81, suggesting the decline from 83.70 top is still in progress for a stronger retracement of recent upmove to 81.99 (61.8% Fibonacci retracement of 80.93 to 83.70) but reckon 81.50 would hold from here, bring rebound later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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