Review On FOMC Meeting: Slight Adjustments In Outlook And QE The Fed has only made minor changes in the growth outlook as well as the asset purchase program. In fact, the accompanying statement for the August meeting was very much the same as the previous one with slightly more upbeat tones in the economic outlook, in light of recent strong data. Full Report Here... Events to Watch: Eurozone GDP, US Retail Sales US retail sales probably rose +0.5% mom in July after a gain of +0.6% in the previous month. Leading the growth was increase in auto sales as driven by the 'cash for clunkers' program, although surge in gasoline price damped sales in gas station which partly offset the overall headline growth. Unit auto sales increased +15% to annualized rate of 11.2M. This should have translated to 3-4% increase in retail auto sales. Core retail sales, excluding auto dealers, gas and building materials, should have risen +0.3% after declining for 4 straight months. Full Report Here... |
Trade Idea: USD/CHF - Buy At 1.0680 Although the greenback retreated sharply after overnight rebound to 1.0830 in New York session and stronger retracement of recent rise from 1.0563 to 1.0724 (50% Fibonacci retracement of 1.0563-1.0885) and possibly towards 1.0680/86 (previous resistance and 61.8% retracement) cannot be ruled out, if our view a low has been formed at 1.0563 is correct, downside would be limited and the Ichimoku cloud bottom (now at 1.0640) should hold and bring another strong rebound later. On the upside, only break of 1.0847 resistance would signal the pullback from 1.0885 has ended and bring another rise to this level. Full Report Here... Trade Idea: GBP/USD - Sell At 1.6665 Despite retreating to 1.6427 overnight in New York session (our long entry at 1.6415 could not get a fill here), sterling rebound from there confirms our suggestion that a temporary low has been formed at 1.6391 and correction of recent decline to 1.6640/50 (38.2% Fibonacci retracement of 1.7044 to 1.6391 and previous support turned resistance) is likely, however, upside should be limited to the flat ground Ichimoku cloud bottom (now at 1.6691) and bring another decline later. Full Report Here... Trade Idea: EUR/USD - Exit Long Entered At 1.4150 With 88 Points Profit Although the single currency rebounded after finding renewed buying at 1.4123 overnight in New York session and almost reached our upside target at 1.4280, as price has eased from 1.4271, suggesting consolidation would be seen and pullback to the Tenkan-Sen (now at 1.4179) cannot be ruled out, however, overnight support at 1.4123 should limit downside and bring another rebound later. Full Report Here... Trade Idea: USD/JPY - Sell At 97.20, O.C.O. Buy At 95.15 Despite rebounding strongly from 95.12 to 96.80 yesterday, the retreat from there suggests consolidation would take place but said support should limit downside and bring another bounce to said res, break there would extend gain to 97.20/30, however, as top has been formed at 97.79, further sharp move is not expected and the greenback shall head south again from there for another fall towards the Ichimoku cloud (now at 94.96-95.16). Looking ahead, only break there would confirm the rise from 91.73 has ended and extend further fall towards 94.63 and possibly towards 94.36. Full Report Here... |
GBP/USD Daily Outlook Daily Pivots: (S1) 1.6395; (P) 1.6477; (R1) 1.6564; More GBP/USD's recovery from 1.6390 is still in progress and further rise might still be seen to 4 hours 55 EMA (now at 1.6610) and above. But upside should be limited below 1.6832 resistance and bring fall resumption. Below 1.6390 will put focus back to 1.6338 support. As discussed before, break there will raise the odds that medium term rebound has completed at 1.7043 already will bring further fall towards 1.5983 key support for confirmation. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDJPY | 80.77 | 80.04 | +73 | +0.90% | | NZDJPY | 65.03 | 64.49 | +54 | +0.83% | | AUDUSD | 0.8396 | 0.8334 | +62 | +0.74% | | GBPJPY | 159.34 | 158.28 | +106 | +0.67% | | NZDUSD | 0.6760 | 0.6716 | +44 | +0.65% | Last Updated: Aug 13, 07:30 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Aug 13, 07:30 GMT |
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