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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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Mid-Day Report: Euro Still Soft on Portugal Bailout TalksEuro remains broadly soft today on talk of imminent bailout for Portugal, as pressured by Germany, France and other countries. Though, that was quickly denied by European commission as they said there were no discussions under way on this issue. 10 year Portuguese bond yield spiked higher to 7.43% before falling back below 7.1% on rumor that ECB is buying in the secondary markets to intervene the bond prices. After all, there is no sign of sustainable recovery in the common currency and we'd expect it to remain under pressure in near term, at least before auctions of 2014 and 2020 Portugal government bonds on Wednesday. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9619; (P) 0.9654; (R1) 0.9706; More. USD/CHF is staying in tight range below 0.9707 temporary top and intraday bias remains neutral for the moment. More consolidations could still be seen. But after all, there is no change in our bullish view. Fall from 1.0065 was completed and a short term bottom is at least formed at 0.9300. Considering bullish convergence condition in daily MACD, fall from 1.1729 might be finished too. Hence, we'd expect downside to be contained above 0.9468 minor support and bring another rise. Above 0.9707 should should target a test on 1.0065 resistance first. Though, below 0.9468 will dampen this view and turn focus back to 0.9300 low. |
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| 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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Trade Idea Update: GBP/USD – Sell at 1.5600Despite intra-day retreat to 1.5475, as the British pound has recovered after holding above the Ichimoku cloud bottom, suggesting further consolidation would be seen and a break of the lower Kumo (now at 1.5461) is needed to confirm the rebound from 1.5407 has ended at 1.5579 last Friday and bring further weakness to 1.5425. Trade Idea Update: EUR/USD – Sell at 1.3020Although euro has remained under pressure, a break of intra-day support at 1.2860 is needed to extend recent downtrend towards 1.2843 (50% projection of 1.4283 to 1.2969 measuring from 1.3500) but reckon 1.2795 (61.8% Fibonacci retracement of 1.1876 to 1.4283) would remain intact due to oversold condition, bring rebound later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||
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