| Action Insight Daily Report |
Dollar's Strong Rebound Kept Bullish Trend Intact Dollar rebounded strongly overnight with support from solid data from US, as well as slightly more hawkish than expected FOMC minutes. The strong rebound in saved dollar index from 79.57 key near term support as well as key near term levels against European majors and thus kept the short term bullish trend intact. Gold also dropped sharply after failing to stay above 1126.4 key near term resistance level while crude oil was kept below 78.04 resistance. This week's pull back in dollar could be over already and we'd look forward to some more strength in the greenback to retest recent highs against European majors. Full Report Here... |
| Special Report |
FOMC Minutes Review: Slightly More Hawkish On Growth In the minutes of the January FOMC meeting, the Fed showed slightly more hawkish tone on the economic outlook. It revised up its forecast on 2010 GDP growth to 2.8%-3.5% from 2.5% to 3.5% projected in November. However, the Committee also lifted unemployment rate to 9.5%-9.7% in 2010 from previous estimates of 9.3%-9.7%. Forecasts for 2011 were largely unchanged. Full Report Here... |
| Candlesticks & Ichimoku Analysis |
Trade Idea: USD/CHF - Buy At 1.0700 As indicated in our yesterday's update that dollar's strong rebound after finding renewed buying interest right at the Ichimoku cloud bottom (exactly at 1.0647) suggests consolidation with mild upside bias would be seen and test of last week's high at 1.0829 is likely, break there would signal recent upmove from 2009 low of 0.9910 has resumed and extend gain towards 1.0870 (1.236 times projection of 0.9910 to 1.0509 measuring from 1.0130) but the greenback should falter well below 1.0939 (50% Fibonacci retracement of 1.1967 to 0.9910). Full Report Here... Trade Idea: USD/JPY - Buy At 90.20 Despite intra-day brief rise to 91.38, lack of follow through buying and the retreat from there suggest consolidation would be seen and below the Tenkan-Sen (now at 90.74) would bring correction to the Kijun-Sen (now at 90.49) but the Ichimoku cloud top (now at 89.92) should contain downside and bring another rally later. Above said resistance would signal recent fall from 93.78 has ended at 88.55 earlier and test of next resistance at 91.88 would follow, once dollar is able to penetrate this latter resistance, this would suggest the rise from 84.82 low has resumed, then headway to next target at 92.50/60 would follow later. Full Report Here... |
| Featured Technical Report | Market Highlights |
USD/CHF Daily Outlook Daily Pivots: (S1) 1.0686; (P) 1.0743; (R1) 1.0839; More. USD/CHF rebounded strongly ahead of 1.0608 support and thus kept the near term bullish outlook intact. Break of 1.0757 minor resistance suggest that retreat from 1.0826 is already finished at 1.0646. Intraday bias is flipped back to the upside. Break of 1.0826 will confirm rally resumption for medium term trend line resistance at 1.0870. Sustained break there will target 161.8% projection of 0.9916 to 1.0506 from 1.0131 at 1.1086 next. On the downside, note that break of 1.0646 support will indicate that a short term top is formed with bearish divergence condition in 4 hours MACD and RSI and will bring deeper pull back to 1.0131/0506 support zone before staging another rise. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 63.87 | 64.19 | -32 | -0.50% | | AUDJPY | 81.65 | 82.05 | -40 | -0.49% | | EURJPY | 123.58 | 124.12 | -54 | -0.44% | | CADJPY | 86.89 | 87.19 | -30 | -0.35% | | CHFJPY | 84.30 | 84.59 | -29 | -0.34% | Last Updated: Feb 18, 06:55 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 18, 06:55 GMT |
| Economic Indicators Update |
| GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 3:45 | JPY | BoJ Interest Rate Decision | 0.10% | 0.10% | 0.10% | | | 7:15 | CHF | Trade Balance (CHF) Jan | | -- | 1.36B | | | 9:30 | GBP | Public Sector Net Borrowing (GBP) Jan | | -2.6B | 15.7B | | | 9:30 | GBP | M4 Money Supply M/M Jan P | | 0.50% | -1.10% | | | 9:30 | GBP | M4 Money Supply Y/Y Jan P | | 4.60% | 6.40% | | | 10:00 | CHF | ZEW Survey (Expectations) Feb | | -- | 56.2 | | | 11:00 | GBP | U.K. CBI Industrial Trends Feb | | -35 | -39 | | | 12:00 | CAD | CPI M/M Jan | | 0.30% | -0.30% | | | 12:00 | CAD | CPI Y/Y Jan | | 1.90% | 1.30% | | | 12:00 | CAD | BoC CPI Core M/M Jan | | 0.00% | -0.30% | | | 12:00 | CAD | BoC CPI Core Y/Y Jan | | 1.90% | 1.50% | | | 13:30 | CAD | International Securities Transactions (CAD) Dec | | 7.21B | 10.54B | | | 13:30 | USD | PPI M/M Jan | | 0.80% | 0.20% | | | 13:30 | USD | PPI Y/Y Jan | | 4.40% | 4.40% | | | 13:30 | USD | PPI Core M/M Jan | | 0.10% | 0.00% | | | 13:30 | USD | PPI Core Y/Y Jan | | 0.80% | 0.90% | | | 13:30 | USD | Initial Jobless Claims | | 448K | 440K | | | 15:00 | USD | Philly Fed Survey Feb | | 17 | 15.2 | | | 15:00 | USD | Leading Indicators Jan | | 0.50% | 1.10% | | | 16:00 | USD | Crude Oil Inventories | | 1.5M | 2.4M | | | 15:30 | USD | Natural Gas Storage | | -185B | -191B | | |
| Suggested Readings |
Fundamental Highlights Technical Highlights |
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