| Action Insight Daily Report | Dollar Pullback Might Extend in European Session Markets are still staying in tight range today so far but dollar looks set to extend recent pullback in early European session. Comments from San Francisco Fed Janet Yellen were dovish overnight. Yellen said there's no presumption that last week's discount rate hike was the first of many steps. Also, she doesn't not support increase in the fed fund rate yet because of sluggish economic outlook persistent high unemployment and low inflation risks. Also, Fed could re-consider mortgage-backed securities buying program after expiry in March if there was a significant and serious change in the economic outlook. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Buy At 1.3490 The single currency continued to trade in narrow range and further consolidation is expected, however, as we are keeping our view that temporary low has possibly been formed at 1.3443 last week, downside should be limited to 1.3524 (61.8% Fibonacci retracement of 1.3443 to yesterdays high of 1.3655) and 1.3480/90 should attract renewed buying interest, bring another rise later. Above said resistance would add credence to our view and further gain to the Ichimoku cloud top (now at 1.3675) would follow but break there is needed to confirm and bring retracement of recent fall towards resistance at 1.3789 later. Full Report Here... Trade Idea: USD/JPY- Buy At 90.10 As dollar has remained under pressure, suggesting near term downside risk remains for the fall from last week's high at 92.16 to bring stronger retracement of recent rise and weakness to support at 90.56 and possibly 90.36 (50% Fibonacci retracement of 88.55 to 92.16) cannot be ruled out, however, reckon the Ichimoku cloud top (now at 90.08) would contain downside and bring rebound later. Above the Tenkan-Sen (now at 91.42) would be the first sign that pullback from 92.16 has possibly ended but only breach of 91.90 (yesterdays high) would confirm and bring retest of 92.16, then later towards 92.50/60 but upside should be limited to 93.00. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/USD Daily Outlook Daily Pivots: (S1) 1.5434; (P) 1.5477; (R1) 1.5523; More GBP/USD's recovery is still in progress and further rise cannot be ruled out. But after all, upside is expected to be limited well below 1.5814 resistance and bring fall resumption. Below 1.5430 minor support will flip intraday bias back to the downside first. Break of 1.5350 low will target 61.8% projection of 1.6456 to 1.5534 from 1.5814 at 1.5244 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | GBPUSD | 1.5526 | 1.5480 | +46 | +0.30% | | GBPCHF | 1.6706 | 1.6658 | +48 | +0.29% | | EURUSD | 1.3628 | 1.3595 | +33 | +0.24% | | EURCHF | 1.4664 | 1.4630 | +34 | +0.23% | | GBPAUD | 1.7229 | 1.7190 | +39 | +0.23% | Last Updated: Feb 23, 06:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 23, 06:45 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 23:50 | JPY | BoJ Minutes | | | | | | 07:00 | CHF | UBS Consumption Indicator Jan | | -- | 1.195 | | | 09:00 | EUR | German IFO - Business Climate Feb | | 96.1 | 95.8 | | | 09:00 | EUR | German IFO - Expectations Feb | | 100.5 | 100.6 | | | 09:00 | EUR | German IFO - Current Assessment Feb | | 91.9 | 91.2 | | | 14:00 | USD | S&P/Case-Shiller Composite-20 Y/Y Dec | | -3.00% | -5.30% | | | 15:00 | USD | Consumer Confidence Feb | | 54.8 | 55.9 | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors |  The World MoneyShow Hong Kong, April 21-23, 2010 at the Grand Hyatt Hong Kong! You'll meet legendary investment experts Steve Forbes, Mark Mobius, Marc Faber, Alexander Elder, John Bollinger, and many others. You will hear and profit from the experts' in-depth insights into global macroeconomics, equities, futures, forex, asset allocation, and more! Conference details and Registration! 
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