| Action Insight Daily Report | Dollar Recovering Mildly from Critical Support Dollar and yen recovers mildly as Asian market opens the week in a calm way. Asian stocks are mildly lower on profit taking after Friday's strong rally. Dollar is supported by weakness in crude oil which saw it back below 81 level. Also, traders are holding their bets ahead of a number of market moving events this week, which starts with manufacturing data and from US later today, and followed by FOMC rate decision, BoJ meeting as well as BoE minutes. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Buy At 1.3650 Although the single currency rose to 1.3796 last Friday, the subsequent retreat from there suggests minor consolidation would take place and retracement to the Kijun-Sen (now at 1.3667) cannot be ruled out, however, euro should find decent demand above the Ichimoku cloud top (now at 1.3644) and bring another upmove later. Above said resistance would extend the upmove from 1.3433 towards resistance at 1.3840/51 and possibly 1.3900 which is likely to hold from here. Full Report Here... Trade Idea: USD/JPY - Buy At 89.65 Despite Friday's brief rise to 91.09, the quick retreat from there suggests consolidation below this level would take place and below the Kijun-Sen (now at 90.36) would bring minor correction to the Ichimoku cloud top (now at 89.85), however, renewed buying interest should emerge around previous support at 89.63 and lower Kumo (now at 89.41) should remain intact, bring another rise later. Above said resistance would extend the upmove from 88.14 to 91.30/40, however, loss of near term upward momentum should prevent sharp move beyond 91.70/80 and the greenback should falter well below resistance at 92.16 and bring correction later. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/JPY Daily Outlook Daily Pivots: (S1) 123.84; (P) 124.52; (R1) 125.35; More. We're neutral in EUR/JPY for the moment as it's very close to mentioned 125.22 cluster resistance (38.2% retracement of 134.36 to 119.64 at 125.26). Choppy recovery from 119.64 is treated as a correction in the larger fall only and is expected to be limited by 125.22 cluster resistance and bring fall resumption. Below 123.01 minor support will flip intraday bias back to the downside for retesting 119.64 low first. However, decisive break of 125.22/26 will invalidate out view and indicate that stronger rebound is underway for 61.8% retracement of 134.36 to 119.64 at 128.73 next. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 63.84 | 63.52 | +32 | +0.50% | | CADJPY | 89.16 | 88.83 | +33 | +0.37% | | NZDUSD | 0.7040 | 0.7015 | +25 | +0.36% | | EURCAD | 1.3985 | 1.4031 | -46 | -0.33% | | AUDNZD | 1.2997 | 1.3037 | -40 | -0.31% | Last Updated: Mar 15, 07:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 15, 07:05 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:01 | GBP | Rightmove House Prices M/M Mar | 0.10% | -- | 3.20% | | | 0:01 | GBP | Rightmove House Prices Y/Y Mar | 5.30% | -- | 6.10% | | | 5:00 | JPY | Households Confidence Feb | 39.8 | 40 | 39 | | | 5:00 | JPY | Consumer Confidence Feb | 40 | -- | 39.4 | | | 8:15 | CHF | Combined PPI M/M Feb | | 0.10% | 0.30% | | | 8:15 | CHF | Combined PPI Y/Y Feb | | -0.60% | -1.30% | | | 12:30 | CAD | New Motor Vehicle Sales M/M Jan | | 0.00% | 2.60% | | | 12:30 | USD | Empire State Manufacturing Mar | | 20 | 24.91 | | | 13:00 | USD | Net Long-term TIC Flows Jan | | $50.3B | $63.3B | | | 13:15 | USD | Industrial Production Feb | | 0.00% | 0.90% | | | 13:15 | USD | Capacity Utilization Feb | | 72.60% | 72.60% | | | 17:00 | USD | NAHB Housing Market Index Mar | | 17 | 17 | | | | 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! 
| |
No comments:
Post a Comment