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Jun 28 22:11 GMT

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Action Insight: Market Overview

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 28 16 14:13 GMT
EUR: Euro has retreated after rising to 1.1112, offers are still noted at 1.1120-25, 1.1150 and 1.1170, selling interest is tipped at 1.1200, 1.1230-40 and 1.1280, mixture of offers and stops is located at 1.1300. On the downside, bids are seen at 1.1045-50, 1.1025-30 and 1.1000, buy orders are expected at 1.0975-80, 1.0930 and 1.0900 (sizeable), buying interest should emerge around 1.0885, 1.0850 and 1.0820-25, combination of bids and stops is reported at 1.0800.
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Mid-Day Report: Financial Markets Calmed Down from Brexit Shock Print E-mail
Market Overview | Written by ActionForex.com | Jun 28 16 13:11 GMT
The global financial markets are showing sign of calming down today after suffering much volatility after the shocked Brexit vote. At the time of writing, FTSE is trading up 2.8%, DAX up 2.7% and CAC up 3.0%. US futures also point to a higher open as DJIA would stay above 17000 handle and recover. WTI crude oil is back above 47.7 after dipping to as low as 145.83 yesterday. Gold, on the other hand, is heading back towards 1300 handle as risk aversion eases. In the currency markets, Sterling is leading commodity currencies higher as it finds a temporary bottom. Meanwhile, Yen and Dollar pare back some of the post UK referendum gains, followed by softness in Swiss Franc too.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 28 16 11:21 GMT
EUR: Euro has rebounded today since Asia, offers at 1.1050, 1.1085 and 1.1100 were filled but sell orders are still noted at 1.1120-25, 1.1150 and 1.1170, selling interest is tipped at 1.1200, 1.1230-40 and 1.1280, mixture of offers and stops is located at 1.1300. On the downside, bids are raised to 1.1045-50, 1.1025-30 and 1.1000, buy orders are expected at 1.0975-80, 1.0930 and 1.0900 (sizeable), buying interest should emerge around 1.0885, 1.0850 and 1.0820-25, combination of bids and stops is seen at 1.0800.
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Daily Report: Selloff in Pound and Equities Continued, S&P Downgraded UK's Rating Print E-mail
Market Overview | Written by ActionForex.com | Jun 28 16 00:58 GMT
Selloff in equities on Brexit continued with DJIA losing -260.51 pts, or -1.5%, to close at 17140.24 overnight. S&P 500 also dropped -36.87 pts, or -1.81%, to close at 2000.54. Flight to safe assets also continued as 10 year US yield dropped sharply to 1.46, down from Friday's close of 1.58. Gold stayed firm at around 1330 for the moment while WTI crude oil recovered some ground and is back above 46.5. In the currency markets, Sterling's selloff continued by hitting new low against Dollar and Euro. Yen strengthened broadly but momentum is somewhat limited as markets are cautious on possible move by BoJ to slow down the steep rally in the Japanese currency.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 27 16 14:24 GMT
GBP: Cable broke below last week's low at 1.3228, bids at 1.3220-25, 1.3200 were filled but buy orders are reported at 1.3150 and 1.3100, buying interest is tipped at 1.3040-50 and in good size at 1.3000. On the upside, offers are seen at 1.3300-10, 1.3350 and 1.3400, sell orders are expected at 1.3430, 1.3450 and 1.3475-80, selling interest should emerge around 1.3500, 1.3550 and 1.3580, sellers are awaiting at 1.3600, 1.3650 and 1.3700.
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Mid-Day Report: Sterling Selloff Resumes as Markets Await More News on Brexit Print E-mail
Market Overview | Written by ActionForex.com | Jun 27 16 12:59 GMT
Sterling is under fresh selling pressure today and hits new low against dollar. Aftermath of Brexit referendum continues to weigh on the pound. European stocks are also struggling as at the time of writing, FTSE is down -1.7%, DAX down -1.9% and CAC down -1.8%. Prime minister David Cameron, who announced resignation after losing in the referendum, will address the Parliament today. Chancellor of the Exchequer George Osborne said that the result of the referendum made some firms pausing their investments and hiring and that will have an impact on the economy and public finances. Meanwhile, Osborne also emphasized that "there will have to be action to deal with the impact on public finances, but that will have to wait for the new prime minister." It's not still unsure who will take up the prime minister role after Cameron and lead the country out of Europe.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 27 16 10:43 GMT
GBP: Cable has dropped again today and especially in London morning after meeting resistance at 1.3475, offers are lowered to 1.3430, 1.3450 and 1.3475-80, sell orders are reported at 1.3500, 1.3550 and 1.3580, selling interest is tipped at 1.3600, 1.3650 and 1.3700. On the downside, bids are seen at 1.3220-25, 1.3200 (sizeable) and 1.3100, buying interest should emerge around 1.3040 and in good size at 1.3000.
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Daily Report: Yen and Dollar Higher as a New Week Starts Print E-mail
Market Overview | Written by ActionForex.com | Jun 27 16 03:42 GMT
Yen and Dollar open the week higher while European majors and commodity currencies are pressured as post-Brexit referendum moves continue. Nonetheless, major pairs are held from Friday's spikes for the moment. Asian stock markets are mixed with Nikkei recovering over 200 pts while Hong Kong HSI is down -200 pts. While EU leaders were united in urging UK to start the exit process as soon as possible, the messages from UK are different. Pro Brexit leader Boris Johnson wrote in the Daily Telegraph saying that there was "no great rush" to leave EU and there will "continue to be free trade, and access to the single market".
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Weekly Review and Outlook: What to Follow in the First Week Post Brexit Referendum? Print E-mail
Market Overview | Written by ActionForex.com | Jun 26 16 05:17 GMT
So now it's done, Britons voted 52-48 to decide to leave EU. The news rocked the markets and sent Sterling to the lowest level against dollar since 1985, in the biggest move on record, followed only by the infamous Black Wednesday. The news also dragged Euro sharply lower and only stabilized after SNB intervened in the markets to curb EUR/CHF decline. Yen was the strongest major currency last week on risk aversion. And that was, surprisingly followed by Aussie and Kiwi, probably due to seek for yields and safe assets. The dollar index jumped through 95.96 resistance to as high as 96.70 before closing at 95.44. And that can be a sign of near term strength in the greenback. Though, we'll have to wait and see the developments to confirm.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 24 16 15:27 GMT
GBP: Cable found support at 1.3605 and has rebounded, however, offers are noted at 1.3840-50, 1.3890-00 and 1.3935-40, sell orders are reported at 1.3990-00 and 1.4050, selling interest is tipped at 1.4100 and 1.4120-30. On the downside, some bids are seen at 1.3730-35, 1.3700 and further out at 1.3650, buying interest should emerge around 1.3600-05, 1.3550 and 1.3500.
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Mid-Day Report: Market Shocked by Brexit, UK Told to Leave ASAP Print E-mail
Market Overview | Written by ActionForex.com | Jun 24 16 12:49 GMT
The global financial markets are shocked by the surprised by the result of the EU referendum in UK, which showed 52% voted for "leaving" EU. FTSE dropped to as low as 5788.7 in initial trading before recovering to 6074 at the time of writing, losing -4.2%. DAX and CAC are losing -7% and -8.6% respectively. US futures point to nearly -3% loss to open the markets. In the currency market, Sterling is sold off steeply and broadly, losing -12.5% and -8.3% against Yen and Dollar respectively. GBP/USD hit the lowest level since 1985 and today's fall exceeded what it suffered in the Black Wednesday in 1992. Yen and to a lesser extend Dollar, are the sole beneficiaries of the development. Gold surges to as high as 1362 in early trading and is trading at around 1320, up 5%, on risk aversion. WTI crude oil tumbles sharply to as low as 46.70 and recovers back to 47.9.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 24 16 11:11 GMT
EUR: Euro found support at 1.0912 and staged a strong rebound from there, suggesting consolidation above this level would be seen, offers at 1.1170 were filled but sell orders are still noted at 1.1190-00, 1.1230-40 and 1.1280, selling interest is tipped at 1.1300, 1.1350 and 1.1400. On the downside, bids are seen at 1.1050, 1.1000 and 1.0975-80, buy orders are expected at 1.0950, 1.0930 and 1.0900. Option expires today include: 1.1200, 1.1275 and 1.1530.
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Daily Report: Britons Choose to Leave EU, Sterling Dives to Lowest since 1985 Print E-mail
Market Overview | Written by ActionForex.com | Jun 24 16 05:05 GMT
The global financial markets are rocked by the surprised result of the EU referendum in UK. At the time of writing, the "Leave" camp has already secured the 16.8m vote needed to win the referendum. GBP/USD took out 2009 low at 1.3503 to the lowest level since 1985. And the sharp decline already exceeded what it suffered in the Black Wednesday in 1992. Yen and to a lesser extend Dollar, are the sole beneficiaries of the development. In the stock markets, Nikkei responds by falling nearly -1200 pts at the time of writing while HK HSI loses nearly -1000 pts. Gold jumps more than 5% and reaches as high as 1362.6 so far. WTI crude oil is under some selling pressure and breaches 47 handle.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 23 16 15:26 GMT
EUR: Euro extended intra-day rise to as high as 1.1421 before easing, offers at 1.1400 and 1.1420 were filled but sell orders are still noted at 1.1450, selling interest is tipped at 1.1480 and 1.1500 (sizeable). On the downside, bids are raised to 1.1350-60, 1.1320 and 1.1300, buy orders are expected at 1.1285, 1.1250 and 1.1235, buying interest should emerge around 1.1220, 1.1200 and 1.1185, fresh demand is located at 1.1150 and 1.1100-10.
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Mid-Day Report: Global Equities Rise as Brexit Vote Starts Print E-mail
Market Overview | Written by ActionForex.com | Jun 23 16 13:30 GMT
Global equities markets are trading higher today as 46.5m Britons start to vote in the EU referendum. The positive development in stocks suggests that trader are seeing a higher chance the UK will stay with EU after the referendum. Meanwhile, Sterling extends recent rise and takes commodity currencies higher. Yen and to a slightly lesser extend Dollar, are under much selling pressure. Polling station will close at 2200 UK time and major centers will start releasing results at around 0500 tomorrow. Released from US, initial jobless claims dropped 18k to 259 in the week ended June 18, below expectation of 271k. That's also the lowest level in 8 weeks. Continuing claims dropped from 2.16m to 2.14m in the week ended June 11.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 23 16 10:30 GMT
EUR: Euro surged in European morning on dollar's broad-based weakness, offers at 1.1350-55 and 1.1375-80 were filled but sell orders are still noted at 1.1400, 1.1420 (stops above) and 1.1450, selling interest is tipped at 1.1480 and 1.1500 (sizeable). On the downside, bids are raised to 1.1350-55, 1.1320 and 1.1300, buy orders are expected at 1.1285, 1.1250 and 1.1235, buying interest should emerge around 1.1220, 1.1200 and 1.1185, fresh demand is located at 1.1150 and 1.1100-10. Option expires today include: 1.1260 (large), 1.1300 (large), 1.1315 and 1.1325.
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Daily Report: Sterling Higher as Britons Prepare to Vote Print E-mail
Market Overview | Written by ActionForex.com | Jun 23 16 04:07 GMT
Sterling strengthens mildly against as 46.5m Britons are ready to vote on the EU referendum in UK. The race is certainly tight according to the latest poll results. A poll by ComRes for the Daily Mail and ITV News showed 48% supported "Remain" and 42% supported "Leave" with 11% undecided. Another YouGov poll for the Times showed 51% supported "Remain" to 49% supported "Leave". However, there are other online polls that showed more support for the Brexit camp. Polling stations will be open today from 0700 to 2200 UK time. At around 0030 tomorrow, the first major centers of Sunderland and Newcastle will likely announce results. But full results would probably be available at around 0500. So, while the pound would probably be steady today, much volatility could be seen starting tomorrow UK time.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 22 16 15:44 GMT
EUR: Euro continued edging higher and offers at 1.1300 and 1.1320-25 were filled but sell orders are still noted at 1.1350-55 and 1.1375-80, selling interest is tipped at 1.1400 and 1.1420 (stops above), mixture of offers and stops is located at 1.1450. On the downside, bids are seen at 1.1275-80, 1.1250-60 and 1.1235, buy orders are expected at 1.1220, 1.1200 and 1.1185, buying interest should emerge around 1.1150 and 1.1100.
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Mid-Day Report: Final Countdown to EU Referendum, Markets Steady Print E-mail
Market Overview | Written by ActionForex.com | Jun 22 16 13:08 GMT
European equities are having another day of strength as the EU referendum in UK enters the final countdown. At the time of writing, FTSE is trading up 0.8%, DAX up 1.0% and CAC up 0.7%. US futures point to a flat open though. In the currency market, Sterling remains the strongest major currency this week followed by commodity currencies. Yen remains broadly soft on risk appetite but weakness is so far limited. The Japanese yen is still maintaining near term bullishness against Dollar and Euro. In other markets, Crude oil is having another rally and is trading back above 50 handle. Strength in oil and better than expected retail sales data is giving Canadian dollar a mild boost. Gold, on the other hand, is back at 1270 after failing to sustain above 1300 handle last week. Trading could be subdued as markets await the referendum in UK tomorrow.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 22 16 11:43 GMT
EUR: Euro has rebounded after finding support at 1.1237, offers at 1.1285 were filled but sell orders are still noted at 1.1300, 1.1320-25 and 1.1350-55, selling interest is tipped at 1.1375-80, 1.1400 and 1.1420 (stops above), mixture of offers and stops is located at 1.1450. On the downside, bids are seen at 1.1250-60, 1.1235 and 1.1220, buy orders are expected at 1.1200 and 1.1185, buying interest should emerge around 1.1150 and 1.1100. Option expires today include: 1.1245, 1.1250, 1.1265, 1.1320 and 1.1380.
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