| Action Insight Mid-Day Report | Mid-Day Report: Dollar Rises Sharply, More Upside Ahead? Dollar strengthen again in early US session as crude oil extends recent decline after brief recovery, dipping below 71 level. Stronger than expected durable goods orders provides little inspiration to markets as stocks open mildly lower which treasury yields also open softly. Sterling remains the weakest currency together with higher yielders. Euro is supported by stronger than expected Germany business confidence and extends rally in EUR/GBP, but falls sharply against dollar. Full Report Here... | | Special Reports | EUR/GBP Elliott Wave Analysis The single currency finally broke above indicated resistance at 0.8699, reinforcing our view that low has been formed at 0.8400 and consolidation with upside bias remains for gain to 0.8868 resistance (wave 4 top). Looking ahead, break there would confirm the wave 5 as well as wave C has ended, then stronger bounce to 0.9082 would follow. Full Report Here... USD/CAD Elliott Wave Analysis The 3-legged rebound to 1.1126 and the sharp retreat from there suggests the wave v may still be in progress and as long as said resistance level holds, a retest of 1.0632 support cannot be ruled out, however, it is necessary to see a break there to signal the wave v of c is under way towards 1.0590 (61.8% Fibonacci retracement of 0.9059-1.3066). However, as this is the final wave v of c leg as well as the entire wave B from 1.3066, downside should be limited to 1.0531 (61.8% projection of the beginning of wave i to iii measuring from wave iv) and support at 1.0310/15 should remain intact. Full Report Here... | | Candlesticks & Ichimioku Analysis | AUDJPY Candlesticks and Ichimoku Analysis As the Tenkan-Sen has contained aussie's retreat from 82.00, suggesting consolidation would take place, however, we are keeping our view that a possible top formation at 82.00, mild downside bias remains for another fall to the Tenkan-Sen (now at 76.39), however, a weekly close below there is needed to confirm and bring correction to 73.90/00 and possibly towards the Kijun-Sen (now at 71.53) but support at 70.76 should remain intact. Full Report Here... AUDUSD Candlesticks and Ichimoku Analysis The Australian dollar continued to find support above the Tenkan-Sen and another 'hammer' like candlestick pattern was formed last week, however, as long as 0.8479 resistance (where a 'doji' star was formed) holds, we are still keeping our view of further consolidation but a weekly close below the Tenkan-Sen (now at 0.8090) is a necessary condition to signal temporary top has been formed at 0.8479, then correction towards the flat ground Ichimoku cloud top (now at 0.7929) would follow. However, reckon support at 0.7700 would hold from here and bring a rebound later. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6304; (P) 1.6373; (R1) 1.6417; More GBP/USD's decline from 1.7043 resumes as expected and drops to as low as 1.6159 so far. Intraday bias remains on the downside as long as 1.6265 minor resistance holds. Fall from 1.7043 is expected to continue towards 1.5983 key support next. ON the upside, above 1.6265 will turn intraday outlook neutral and bring consolidation. But recovery is expected to be limited below 1.6622 resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPJPY | 152.90 | 153.93 | -103 | -0.67% | | GBPUSD | 1.6238 | 1.6347 | -109 | -0.67% | | AUDUSD | 0.8305 | 0.8355 | -50 | -0.60% | | AUDJPY | 78.20 | 78.67 | -47 | -0.60% | | EURGBP | 0.8791 | 0.8744 | +47 | +0.53% | Last Updated: Aug 26, 13:20 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Aug 26, 13:20 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | Trade Balance (JPY) Jul | 0.19T | 0.35T | 0.44T | 0.37T | | 23:50 | JPY | CSPI Y/Y Jul | -3.40% | -3.30% | -3.20% | | | 06:00 | EUR | German Import Price Index M/M Jul | -0.90% | -0.80% | 0.40% | | | 06:00 | EUR | German Import Price Index Y/Y Jul | -12.60% | -12.50% | -11.30% | | | 08:00 | EUR | German IFO - Business Climate Aug | 90.5 | 89.1 | 87.3 | | | 12:30 | USD | Durable Goods Orders Jul | 4.90% | 3.30% | -2.50% | -2.20% | | 12:30 | USD | Durables Ex Transport Jul | 0.80% | 1.00% | 1.10% | 1.60% | | 14:00 | USD | New Home Sales Jul | | 390K | 384K | | | 14:30 | USD | Crude Oil Inventories | | -2.1M | -8.4M | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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