Action Insight Mid-Day Report 8-29-11

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
Mid-Day Report: Swiss Franc Broadly Lower on Possible Deposit Charges. EUR/USD Struggling Around 1.4540 Swiss Franc remains broadly weak and extends last week's selloff on concern of possible charges on franc deposits. USD/CHF takes out 0.82 while EUR/CHF is approaching 1.2. The selloff started last week after Swiss bank UBS indicated the bank may levy a “temporary excess balance fee” to clients in order to discourage them from accumulating franc into their cash clearing accounts. Meanwhile, recent recoveries in global stock markets also dampened safe-haven demand for. While there was no confirmation that Swiss National Bank took any action in the currency market, with the central bank lurking around, traders are reluctant to buy the Swiss franc and only option left was to cover their long franc positions, i.e. sell CHF. Full Report Here...
Featured Technical Report
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.7915; (P) 0.8036; (R1) 0.8180; More... USD/CHF's rebound continues today and reaches as high as 1.8194 in early US session. Intraday bias remains on the upside for 0.8275 resistance next. Break there will have medium term bullish implication and pave the way to 38.2% retracement of 1.1730 to 0.7065 at 0.8847. On the downside, below 0.8056 minor support will turn bias neutral and bring consolidations. But another rise will remain mildly in favor as long as 0.7769 support holds. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Forex Brokers

Economic Indicators Update	The Futures and Forex Expo Las Vegas, June 15-18, 2011 at Caesars Palace. Register now and prepare for three days that will get you on track for a profitable future! Register FREE today! 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 World MoneyShow Toronto, September 8-10, 2011, at The Metro Toronto Convention Center. Your one-stop resource for the most comprehensive education, efficient research, and valuable advice. Register Free Today! World MoneyShow Vancouver, September 19-21, 2011, at The Vancouver Convention Center. Be there as recommendations and advice are revealed for how to best position your portfolio for profit - in 2011 and beyond. Register Free Today!
GMT Ccy Events Actual Consensus Previous Revised EUR German CPI M/M Aug P -0.10% 0.00% 0.40% EUR German CPI Y/Y Aug P 2.30% 2.40% 12:30 USD Personal Income Jul 0.30% 0.30% 0.10% 0.20% 12:30 USD Personal Spending Jul 0.80% 0.50% -0.20% -0.10% 12:30 USD PCE Deflator Y/Y Jul 2.80% 1.40% 2.60% 12:30 USD PCE Core M/M Jul 0.20% 0.20% 0.10% 0.20% 12:30 USD PCE Core Y/Y Jul 1.60% 1.40% 1.30% 1.40% 14:00 USD Pending Home Sales M/M Jul -1.30% 0.00% 2.40%
Forex Trade Ideas
Trade Idea Update: GBP/USD – Buy at 1.6305 As the British pound has risen again after brief pullback, suggesting the rebound from Friday’s low of 1.6207 is still in progress and gain to 1.6413 (50% Fibonacci retracement of 1.6618-1.6207), then towards 1.6435 (previous support turned into resistance) would be seen. However, a break above latter level is needed to signal the fall from 1.6618 has ended at 1.6207 and bring subsequent rise towards 1.6461 (61.8% Fibonacci retracement) but reckon 1.6500 would hold. Read more... Trade Idea Update: EUR/USD – Buy at 1.4435 Euro’s retreat after intra-day rise to 1.4550 suggests minor consolidation would take place and pullback to intra-day support at 1.4466 would be seen, however, the Kijun-Sen (now at 1.4439) should limit downside and bring another rise later. A break of said resistance at 1.4550 would extend recent rise for gain to previous resistance at 1.4580 (July), however, break of this level is needed to confirm an upside break of recent broad range upmove from 1.3838 should head to next target at 1.4640/50 Read more... Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights Personal Spending Surprisingly Strong in July US Household Spending Comes in Strong in July Boosting Sentiment U.S. July Consumer Spending Shows Strong Gain CHF Weakens; Legarde Talks Banks, Growth; Nado as New PM London Session: Stocks Rally But Eurozone Fears Remain September Fed Meeting Unlikely To Yield QE3 Technical Highlights AUDUSD: Resumes Recovery Strength, Pressure Builds On 1.0784 USD/CAD Sees Sharp Reaction at the 0.9740 Triangle Support Above 1.6530 GBP/USD Opens up 1.6618 and 1.6745 EUR/GBP in Extended Bearish Divergence; 0.8830 and 0.8885 are Important Pivots If EUR/USD Clears 1.4577 and Holds Above 1.45, 1.4940 is in Sight Forex Technical Set-Ups For The Week Ahead

Forward this report to a friend! This email was sent to banzou.forex@blogger.com by contact@actionforex.com |   Update Profile/Email Address | Instant removal with SafeUnsubscribe™ | Privacy Policy. Action Forex Company Limited | Room 1707, 17/F | Treasure Center | 42 Hung To Road | Kwun Tong | Kowloon | 852 | Hong Kong