| Action Insight Mid-Day Report | Yen Recovers But Dollar Remains Soft Yen recovers earlier today as strength in Asian equities was not followed through in European session. The Japanese currency was also supported by speculation of Chinese yuan revaluation later this year to cool inflation. Euro remains firm even though the rumor of a EUR 25b rescue plan for greece was denied. Also, there is little impact from George Soro's comment that "the survival of Greece would still leave the future of the euro in question, ..... and if member countries cannot take the next steps forward, the euro may fall apart." Dollar, on the other hand, remains generally soft as crude oil and gold continue to hover around 80 and 1120/30. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 123.60 Although the single currency retreated after intra-day rise to 125.24, the series of higher highs and higher lows from 120.70 suggests low has been formed there and bullishness remains for further gain to 125.50 and later towards resistance at 126.98. Full Report Here... Trade Idea: AUD/USD - Exit Short Entered At 0.9000 Although aussie has retreated after faltering below resistance at 0.9037, the strong rebound from 0.8879 suggests upside risk remains and break of this resistance would signal the rise from 0.8578 is still in progress and gain to 0.9100 would follow but 0.9175 should hold from here. Full Report Here... | | Featured Technical Report | Market Highlights | USD/CHF Mid-Day Outlook Daily Pivots: (S1) 1.0704; (P) 1.0801; (R1) 1.0852; More. USD/CHF stabilizes a bit after hitting 4 hours 55 EMA but there is no sign of completion of retreat from 1.0897 yet. Intraday bias remains neutral and some more consolidations could be seen below 1.0897. Nevertheless, another rise is still in favor as long as 1.0646 support holds. Sustained trading above medium term trend line resistance (now at 1.0864) swill pave the way to 161.8% projection of 0.9916 to 1.0506 from 1.0131 at 1.1086 next. However, considering bearish divergence condition in 4 hours MACD and RSI, break of 1.0646 support will indicate that a short term top is formed and will bring deeper pull back towards 1.0506 resistance turned support first. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDUSD | 0.7022 | 0.6992 | +30 | +0.43% | | NZDJPY | 64.14 | 63.98 | +16 | +0.25% | | AUDCAD | 0.9359 | 0.9337 | +22 | +0.24% | | AUDNZD | 1.2815 | 1.2843 | -28 | -0.22% | | CADJPY | 87.86 | 88.04 | -18 | -0.20% | Last Updated: Feb 22, 14:25 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 22, 14:25 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 00:30 | AUD | New Motor Vehicle Sales M/M Jan | -3.40% | -- | 3.30% | | 16:00 | USD | Fed's Yellen Speaks in San Diego on U.S. Economy | | -- | -- | | | 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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