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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Action Insight Daily 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
Daily Report: Euro Extends Rally, Germany to Discuss French Greek Debt Proposal Euro extends its broad based rally against major currencies today on optimism that Greece's problem is solved in near term after yesterday's parliamentary passage of austerity plan. The near term resolution in the Greece situation also helps boost risk appetite in general and sends Asian equities broadly higher following another day of rebound in DOW overnight. Dollar is defensive against all major currencies for the moment as focus is back to the fragility of US recovery as well as IMF's warning to US for raising the debt ceiling Strength in crude oil, which is now back above 95 level after drawing support from 90, also gives some pressure to the greenback. Full Report Here...
Featured Technical Report
EUR/USD Daily Outlook Daily Pivots: (S1) 1.4357; (P) 1.4403 (R1) 1.4479; More. EUR/USD rises further to as high as 1.4521 so far today and is set to take on near term falling trend line resistance. Intraday bias remains on the upside and break of the trend line will send EUR/USD to 1.4965 resistance next. Note again that EUR/USD is possibly forming a triangle pattern inside converging range of 1.3969/4939. Eventual upside breakup is still in favor with 1.3969 support intact. Break of 1.4695 resistance will be the first signal of up trend resumption for another high above 1.4939. On the downside, below 1.4330 minor support will turn bias neutral. Further break of 1.4102 will turn focus back to 1.3969 support 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 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 1:00 NZD NBNZ Business Confidence Jun 46.5 38.3 5:00 JPY Housing Starts Y/Y May 6.40% 3.10% 0.30% 7:55 EUR German Unemployment Change Jun -17K -8K 7:55 EUR German Unemployment Rate Jun 7.00% 7.00% 8:00 EUR Eurozone M3 Y/Y May 2.10% 2.00% 9:00 EUR Eurozone CPI Estimate Y/Y Jun 2.80% 2.70% 12:30 USD Initial Jobless Claims 420K 429K 12:30 CAD GDP M/M May -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: GBP/USD – Buy at 1.5995 Although the British pound extend this week’s rise from 1.5912 to as high as 1.6118, as cable has retreated in London morning, suggesting consolidation would be seen and pullback to the Kijun-Sen (now at 1.6045) cannot be ruled out, however, reckon 1.5991 (61.8% Fibonacci retracement of 1.5912-1.6118) would limit downside and bring another rise later. A break of said resistance would bring a stronger retracement of recent decline to 1.6129 Read more... Trade Idea: EUR/USD – Buy at 1.4350 Despite yesterday’s brief retreat to 1.4320, as the single currency has risen again after finding renewed buying interest there, suggesting the rise from 1.4073 is still in progress and further gain to 1.4530 and possibly to previous resistance at 1.4552, however, near term overbought condition should limit upside and price should falter below 1.4600 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 Risk 'On' In Asian Session Approval Of Phase One Austerity Vote Lifts The Euro A Greek 'Tragedy' Avoided (For Now). What's Next?..It's Month End Asia Session: Passage Of Austerity Propels The Euro Higher Daily Financial Market Outlook Greece Austerity Vote Passes, Markets Cheer Technical Highlights Dollar Yen Lower In Tokyo Trading The Daily Forecaster: GBPUSD EURUSD - Very Cautiously Bullish Above 1.4459 Daily Forex Update: EUR/USD

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Action Insight Mid-Day Report 6-29-11

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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 Takes Profit after Greece Passes Austerity Vote, Canadian Dollar Jumps on CPI Euro retreats mildly after Greek Prime Minister Papandreou finally got parliamentary approval of the five year EUR 78b austerity plan, today by 155 votes within 300 seats. Yield on 2 year Greek bonds dropped further on the news to below 27%, from where it touched 30% in mid June. Greece will face another test tomorrow as the parliament will hold an -article-by-article vote on legislation implementing the austerity plan of EUR 28b as well as a EUR 50b privatization program. Though, it's expected that tomorrow's vote is just a matter of formality. And, that should clear the path for EU and IMF to release the EUR 12b tranche of the EUR 110 bailout package to Greece in July. One point to note that swiss franc indeed has more reaction to the news than Euro itself as worry on the Greece situation eased much. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.4272; (P) 1.4334 (R1) 1.4432; More. EUR/USD rises to as high as 1.4447 so far today before retreating mildly. Intraday bias remains on the upside for upper trend line resistance (now at 1.4537) first. Break will target key near term resistance at 1.4695. Note again that EUR/USD is possibly forming a triangle pattern inside converging range of 1.3969/4939. Eventual upside breakup is still in favor as long as 1.3969 support holds. Break of 1.4695 resistance will be the first signal of up trend resumption for another high above 1.4939. On the downside, below 1.4236 will turn bias neutral again. Further break of 1.4102 will turn focus back to 1.3969 support 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 23:50 JPY Industrial Production M/M May P 5.70% 5.50% 1.60% 23:50 JPY Industrial Production Y/Y May P -5.90% -6.30% -13.60% 08:30 GBP Mortgage Approvals May 45.9K 46.3K 45.2K 45.45K 08:30 GBP Index of Services 3M/3M May 0.90% 1.30% 0.90% 08:30 GBP M4 Money Supply M/M May 0.10% 0.30% 0.10% 08:30 GBP M4 Money Supply Y/Y May -0.20% -0.90% 09:00 EUR Eurozone Consumer Confidence Jun -9.8 -10 -10 09:00 EUR Eurozone Economic Confidence Jun 105.1 105 105.5 09:00 EUR Eurozone Industrial Confidence Jun 3.2 3.5 3.9 3.8 09:00 EUR Eurozone Services Confidence Jun 9.9 9 9.2 9.3 09:30 CHF KOF Leading Indicator Jun 2.23 2.23 2.3 11:00 CAD CPI M/M May 0.70% 0.30% 0.30% 11:00 CAD CPI Y/Y May 3.70% 3.30% 3.30% 11:00 CAD BoC CPI Core M/M May 0.50% 0.20% 0.20% 11:00 CAD BoC CPI Core Y/Y May 1.80% 1.50% 1.60% 14:00 USD Pending Home Sales M/M May 8.20% 0.80% -11.60% 14:30 USD Crude Oil Inventories -4.4M -1.5M -1.7M
Forex Trade Ideas
Trade Idea: USD/CHF – Sell at 0.8375 As the greenback rebounded after yesterday’s selloff to 0.8276, suggesting consolidation would be seen and recovery to the Ichimoku cloud (now at 0.8349-57) cannot be ruled out, however, reckon this week’s high of 0.8386 would limit upside and bring another decline later. A break of said support at 0.8276 would extend downtrend to 0.8240/42 (50% projection of 0.8947-0.8327 measuring from 0.8552) but loss of near term downward momentum should prevent sharp fall below 0.8200 Read more... Trade Idea: EUR/USD – Buy at 1.4265 As the single currency has maintained a firm undertone after rising to 1.4397 yesterday, adding credence to our near term bullishness for the rebound from 1.4103 to extend further gain to 1.4400 and possibly towards previous resistance at 1.4442, however, break there is needed to retain upside bias for further gain to 1.4458 (61.8% Fibonacci retracement of 1.4696 to 1.4073) but reckon 1.4500 would hold from here. 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 Squeeze into Greek Vote Continues Austerity Passes, EUR/USD Eases From 3-Week High Afterwards on "Sell the News" Reaction Canadian Dollar Surges on Inflation Jump Canada's Inflation Rate Jumped in May CAD Surges After Inflation Data Comes in Red Hot Social Breakdown in Greece = Euro Higher Technical Highlights FX Thoughts for the Day EUR/CHF Tests Channel Resistance after Break from Inverted Head and Shoulder EURUSD: Tests The 1.4442 Level, Eyes Further Gains Bullish Breakout to a Declining Wedge Observed in the GBP/JPY

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