| Action Insight Mid-Day Report | Markets Lack Direction, Dollar Soft in Tight Range Markets continue to lack a clear direction in early US session. Dollar remains soft in tight range while yen is trying to firm up a bit. Aussie edges further higher but Canadian dollar lags behind as crude oil softens a bit. US Personal income was flat in July versus expectation of 0.1% growth. spending rose 0.2%, inline with consensus. PCE deflator dropped less than expected by -0.8% yoy while core PC also slowed less than expected to 1.4% yoy. U of Michigan consumer sentiment was revised higher to 65.7 in Aug. Full Report Here... | | Elliott Wave Analysis | EUR/JPY Elliott Wave Analysis The single currency continued to trade in a near term narrow range and we are holding our count that the wave i of wave 3 has ended there and further consolidation would take place. If price drops below 132.17 support, stronger correction in wave ii would bring fall to 131.48 (61.8% Fibonacci retracement of the wave i from 127.00 to 138.72) but 130.00 should limit downside and bring wave iii of 3 later. Full Report Here... USD/CHF Elliott Wave Analysis As indicated in our previous update, the wave (c) from 1.1967 is still in progress and the currency pair just made another 8-month low at 1.0529 yesterday, however, the pattern of the move from 1.0935 suggests a possible diagonal triangle wave v is unfolding and marginal fall to 1.0451 (50% projection of 1.1742 to 1.0592 measuring from 1.1026) cannot be ruled out, however, as long as 1.0370 support holds, we are still holding our view of a triangle wave b count. Full Report Here... | | Candlesticks & Ichimioku Analysis | EURJPY Candlesticks and Ichimoku Analysis Despite falling to 132.17 last week, the rebound from there formed a small 'hammer' candlestick pattern on the weekly chart and although euro has retreated this week, as longh as this support level holds, mild upside bias is seen for another bounce to 136.22 (61.8% Fibonacci retracement of 138.72 to 132.17), however, it is necessary to see a break of 138.72 resistance to signal the rise from 112.08 has resumed for retest of 139.26, then 141.03 (50% Fibonacci retracement of 169.97-112.08 and current level of the Ichimoku cloud top), otherwise, further consolidation within recent range of 127.00-139.26 would take place. Full Report Here... EURCAD Candlesticks and Ichimoku Analysis As the single currency has continued to trade narrowly above 1.5186, suggesting further consolidation would take place and although mild upside bias is seen for gain to the Tenkan-Sen (now at 1.5757), upside should be limited to 1.6000 and bring another decline later. Break of said support would extend the fall from 1.7509 to 1.5106 (100% projection of 1.7509-1.5642 measuring from 1.6973), then 1.4901 (61.8% Fibonacci retracement of 1.3289 to 1.7509) but support at 1.4702-19 (100% projection of 1.6973-1.5346 measuring from 1.6329 and previous chart support) should remain intact. Full Report Here... | | Featured Technical Report | Market Highlights | USD/JPY Mid-Day Outlook Daily Pivots: (S1) 93.04; (P) 93.67; (R1) 94.12; More. With an intraday low in place at 93.21, some more consolidation could be seen in USD/JPY. Nevertheless, while another rise cannot be ruled out, upside should be limited by 95.05 and bring fall resumption. On the downside, below 93.21 will target 91.73 low next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | AUDNZD | 1.2279 | 1.2203 | +76 | +0.62% | | AUDJPY | 78.92 | 78.46 | +46 | +0.58% | | AUDUSD | 0.8436 | 0.8393 | +43 | +0.51% | | EURAUD | 1.7019 | 1.7085 | -66 | -0.39% | | CADJPY | 86.29 | 85.96 | +33 | +0.38% | Last Updated: Aug 28, 14:10 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Aug 28, 14:10 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:01 | GBP | GfK Consumer Confidence Aug | -25 | -24 | -25 | | | 23:30 | JPY | Unemployment Rate Jul | 5.70% | 5.50% | 5.40% | | | 23:30 | JPY | Household Spending Y/Y Jul | -2.00% | -0.50% | 0.20% | | | 23:30 | JPY | National CPI Y/Y Jul | -2.20% | -2.20% | -1.80% | | | 23:30 | JPY | National CPI Core Y/Y Jul | -2.20% | -2.20% | -1.70% | | | 23:30 | JPY | Tokyo CPI Y/Y Aug | -1.60% | -1.80% | -1.80% | | | 23:30 | JPY | Tokyo CPI Core Y/Y Aug | -1.90% | -1.80% | -1.70% | | | 08:30 | GBP | GDP Q/Q Q2 P | -0.70% | -0.80% | -0.80% | | | 08:30 | GBP | GDP Y/Y Q2 P | -5.50% | -5.60% | -5.60% | | | 08:30 | GBP | Index of Services (3M/3M) Jun | -0.60% | -0.60% | -1.00% | | | 09:00 | EUR | Eurozone Consumer Confidence Aug | -22 | -21 | -23 | | | 09:00 | EUR | Eurozone Economic Confidence Aug | 80.6 | 78 | 76 | | | 09:00 | EUR | Eurozone Industrial Confidence Aug | -26 | -28 | -30 | | | 09:00 | EUR | Eurozone Services Confidence Aug | -11 | -17 | -18 | | | 09:30 | CHF | KOF Leading Indicator Aug | -0.04 | -0.59 | -0.99 | -0.85 | | 12:30 | CAD | Current Account (CAD) Q2 | -11.2B | -$11.8B | -$9.1B | -7.73B | | 12:30 | CAD | Industrial Product Price M/M Jul | -0.50% | -0.50% | 0.70% | 0.50% | | 12:30 | CAD | Raw Materials Price Index M/M Jul | -3.80% | -5.00% | 6.20% | | | 12:30 | USD | Personal Income Jul | 0.00% | 0.10% | -1.30% | -1.10% | | 12:30 | USD | Personal Spending Jul | 0.20% | 0.20% | 0.40% | 0.60% | | 12:30 | USD | PCE Deflator Y/Y Jul | -0.80% | -0.90% | -0.40% | | | 12:30 | USD | PCE Core M/M Jul | 0.10% | 0.10% | 0.20% | | | 12:30 | USD | PCE Core Y/Y Jul | 1.40% | 1.30% | 1.50% | | | 13:55 | USD | U. of Michigan Consumer Sentiment AUG F | 65.7 | 64.5 | 63.2 | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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