| Having trouble viewing this email? Click here |
 | |
| 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: Markets Tread Water as EU Decision on Rescue Plan DelayedMarkets are cautiously staying in tight range for the moment as traders are refusing to bet on either side ahead of the highly anticipated EU summit. It's known that German and France are having much differences over issues of boosting EFSF, bank recapitalization and hair-cut of Greek debts. No agreement was reach so far and the two leaders then called for a second summit on October 26, where the details of the so called "comprehensive and ambitious" package would supposedly be finalized. It's now quite impossible there will be concrete conclusion on Sunday and it remains doubtful of any meaningful decision before G20 summit early next month. The uncertainties would continue to be reflected in range trading in most markets. |
|
| Featured Technical Report | |
USD/CHF Daily OutlookDaily Pivots: (S1) 0.8883; (P) 0.8982; (R1) 0.9037; More... USD/CHF's break of 0.8880 indicates that whole pull back for 0.9315 has resumed. Intraday bias is back on the downside and further decline should be seen to 0.8647 (100% projection of 0.9315 to 0.8880 at 0.9082 at 0.8647) and possibly below. But still, we're expecting strong support above 0.8246 (50% retracement of 0.7065 to 0.9315 at 0.8190) to contain downside and bring resumption of rebound from 0.7065 eventually. On the upside, above 0.9082 will flip bias back to the upside and target a retest on 0.9315 low. |
| Forex Brokers | |||
|
| Economic Indicators Update |
Top trading expert speakers, analysts and exhibitors. Discover the Newest Comer to the market, analyze latest market trends explore different trading platforms, and explore a wide opportunity on future investments. The 9th ME Forex & Investment Summit 2011
Don’t miss this year’s World MoneyShow London, 11-12 November 2011 at the Queen Elizabeth II Conference Centre. Be there as recommendations and advice are revealed for how to best position your portfolio for profit—in 2011 and beyond. Don't miss out... Register Free Today!
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: The single currency went through a roller-coaster trading day yesterday, despite rebounding from 1.3673 in European morning to as high as 1.3843, euro then tumbled in part due to cross-selling and risk aversion, price dropped below said support to as low as 1.3556, however, this week’s low at 1.3653 held again and the currency pair staged another strong bounce in late New York back to above 1.3800 level. There are no directions obviously and further choppy trading is likely to take place ahead of EU summit as traders have no clue whether the officials are able to come up with solid solution to the eurozone debt crisis. At the moment, offers are reported from 1.3810 up to 1.3850 (stops above 1.3850) with mixtures of offers and stops seen at 1.3870-80 and further out at 1.3910-20. On the downside, fair size bids are noted from 1.3760 down to 1.3730 (stops below 1.3720-25) with large bids tipped a bit far at 1.3650-60 with bigger stops building up below there, so further volatile price action is in store ahead of the release of German Oct IFO data with some traders betting for a soft number. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: GBP/USD – Buy at 1.5690Although the British pound has staged a strong rebound after yesterday’s brief fall to 1.5682, above resistance area at 1.5848-53 is needed to signal an upside break of recent broad range and bring resumption of upmove from 1.5270 for further gain towards 1.5890/00, however, near term overbought condition should limit upside to 1.5940/50 and risk from there is seen for another corrective fall later. Trade Idea: USD/JPY – Buy at 76.40Although the greenback staged a rebound to 77.10, lack of follow through buying and the subsequent retreat suggest further consolidation would be seen and another test of 76.60 support cannot be ruled out, however, as broad outlook remains consolidative, support at 76.31 should limit downside and bring another rebound later. A sustained breach of said resistance at 77.10 would signal the retreat from 77.46 has possibly ended and bring test of resistance area at 77.46-49 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fundamental Highlights
Technical Highlights | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||
No comments:
Post a Comment