| Action Insight Mid-Day Report | Yen Rebound Accelerates after Poor US Consumer Confidence Yen rebound strongly today while dollar follows. Positive sentiments fade after disappointment from Germany Ifo business climates and dovish comments from BoE King. Buying of yen intensified after disappointing consumer confidence reading from US. Yen is also lifted as speculation for a Fed hike in near term cooled. Dollar on the other hand, is helped by sharp fall in crude oil which sent it back from intraday high of 80.39 to below 79 level. Data from US saw S&P/Case-Shiller 20 cities home price rose for second consecutive months by 0.3% mom in December, down -3.1% yoy. Conference Board consumer confidence dropped sharply to 10 month low of 46 in February. Full Report Here... | | Elliott Wave Analysis | Trade Idea: EUR/JPY - Buy At 123.15 Despite intra-day brief bounce to 124.54, current retreat suggests near term downside risk remains for the fall from 125.24 (yesterday's high) to bring marginal weakness, however, as long as support at 122.76 holds, mild upside bias remains for the rise from 120.70 to resume after consolidation. Above said resistance would confirm low has been formed and extend headway to 125.50 and later towards resistance at 126.98. Full Report Here... Trade Idea: AUD/USD - Buy At 0.8950 Aussie's breach of indicated resistance at 0.9037 signals early decline has indeed ended at 0.8578 as the wave C and upside bias is seen for further gain to 0.9100 and later to 0.9150 but only break of resistance at 0.9175 would confirm entire correction from 0.9407 is over, then headway to 0.9250 would follow. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/JPY Daily Outlook Daily Pivots: (S1) 140.50; (P) 141.34; (R1) 141.90; More GBP/JPY's break of 140.70 minor support suggests that recovery from 138.23 might have completed at 143.59 already. Intraday bias is flipped back to the downside for 138.23 first. Break will confirm that recent decline has resumed and should target 61.8% retracement of 118.81 to 163.05 at 135.70 next. On the upside, above 141.70 minor resistance will delay the bearish case and bring more consolidations. But after all, upside is expected to be limited by 145.26 resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
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(%) | | CHFJPY | 83.96 | 84.68 | -72 | -0.86% | | EURJPY | 123.06 | 123.90 | -84 | -0.68% | | GBPJPY | 140.19 | 141.07 | -88 | -0.63% | | NZDJPY | 63.58 | 63.91 | -33 | -0.52% | | USDCHF | 1.0812 | 1.0761 | +51 | +0.47% | Last Updated: Feb 23, 14:45 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 23, 14:45 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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