| Action Insight Mid-Day Report |
Dollar Lower on Disappointing Retail Sales, Euro Lifted by GDP Economic data plays an important part in driving the forex markets today. On the one hand, Euro was lifted by better than expected GDP data and optimism that Eurozone is getting out of recession. On the other hand, dollar was pressured by disappointing retail sales data from US. Nevertheless, stocks pay little attention though. Anyway, EUR/USD breached 1.43 level briefly and remains firm while gold and crude oil are both lifted by weakness in the greenback. Full Report Here... |
| Elliott Wave Analysis |
EUR/CAD Elliott Wave Analysis The single currency finally rebounded after falling to 1.5186 earlier and consolidation above there would take place and gain to 1.5758 (50% Fibonacci retracement of 1.6329-1.5186) is likely, however, a daily close above 1.5892 (61.8% Fibonacci retracement) is needed to confirm the e leg of the decline 1.7509 has ended at 1.5186 and bring further rise to 1.6000. Full Report Here... AUD/USD Elliott Wave Analysis Despite retreating to 0.8180 yesterday, the strong rebound from there on renewed cross-buying due to risk appetite suggests the upmove is still in progress and retest of 0.8471 is under way, break there would extend upmove to chart resistance at 0.8520 and above there would bring headway to the projected target at 0.8690 (50% projection of wave (i) - (iii) measuring from wave (iv) trough). Full Report Here... |
| Candlesticks & Ichimioku Analysis |
GBPJPY Candlesticks and Ichimoku Analysis Although the British pound resumed recent rise from 118.87 in line with our expectation, as sterling has retreated after making marginal high at 163.00, suggesting a temporary top has possibly been formed there and consolidation below said resistance with mild downside bias is seen for test of the Tenkan-Sen (now at 154.93). A weekly close below this level would confirm this view and bring correction to 152.30/35, then towards 150.00, however, reckon support at 146.75 would hold from here. Full Report Here... GBPCHF Candlesticks and Ichimoku Analysis Despite rising to as high as 1.8091 last week, the retreat from there suggests further consolidation below 1.8114 to take place and a weekly close below the Tenkan-Sen (now at 1.7752) would bring another corrective decline towards 1.7391, however, break there is needed to confirm a temporary top has been formed earlier at 1.8114 and bring correction to the Ichimoku cloud bottom (now at 1.7152). Having said that, the Kijun-Sen (currently locating at 1.6982) should limit downside and sterling may stage a rebound from there later. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 1.0723; (P) 1.0785; (R1) 1.0838; More USD/CHF's fall from 1.0883 extends further to as low as 1.0690 so far in early US session. Further decline could still be seen but we'd continue to expect downside to be contained above 1.0665 support. Above 1.0790 minor resistance will flip intraday bias back to the upside for 1.0883 and then 1.0993 resistance. Break there will solidify the case that USD/CHF has indeed bottomed out at 1.0561 already and will turn focus to 1.1021 resistance for confirmation. However, break of 1.0665 will in turn argue that 1.0561 is not the bottom yet and recent down trend is still in progress for another low before completion. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDUSD | 0.6772 | 0.6716 | +56 | +0.83% | | AUDUSD | 0.8395 | 0.8334 | +61 | +0.73% | | GBPUSD | 1.6594 | 1.6482 | +112 | +0.67% | | EURUSD | 1.4285 | 1.4192 | +93 | +0.65% | | USDJPY | 95.46 | 96.04 | -58 | -0.61% | Last Updated: Aug 13, 13:50 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Aug 13, 13:50 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 01:00 | AUD | Consumer Inflation Expectation Aug | 3.50% | -- | 3.20% | | | 06:00 | EUR | German GDP Q/Q Q2 P | 0.30% | -0.20% | -3.80% | -3.50% | | 07:15 | CHF | Combined PPI M/M Jul | 0.00% | 0.10% | 0.00% | | | 07:15 | CHF | Combined PPI Y/Y Jul | -6.10% | -5.80% | -5.60% | | | 08:00 | EUR | ECB Monthly Report Aug | | -- | -- | | | 09:00 | EUR | Eurozone GDP Q/Q Q2 A | -0.10% | -0.50% | -2.50% | | | 09:00 | EUR | Eurozone GDP Y/Y Q2 A | -4.60% | -5.10% | -4.90% | | | 12:30 | USD | Advance Retail Sales Jul | -0.10% | 0.50% | 0.60% | 0.80% | | 12:30 | USD | Retail Sales Less Autos Jul | -0.60% | 0.10% | 0.30% | 0.50% | | 12:30 | USD | Import Price Index M/M Jul | -0.70% | -0.50% | 3.20% | 2.60% | | 12:30 | USD | Initial Jobless Claims | 558K | 540K | 550K | | | 14:00 | USD | Business Inventories Jun | | -0.90% | -1.00% | | | 14:30 | USD | Natural Gas Storage | | 71B | 66B | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
No comments:
Post a Comment