| Action Insight Daily Report | Dollar Firm as Focus Turns to EU Summit and Bernanke Testimony Dollar remains broadly firm today and breaches 1.33 level against Euro while dollar yen continues to press 92.14 resistance. Fed's Vice Chairman Kohn said that he's confident that Fed "can and will tighten policy well in advance of any threat to price stability" while he also expects a "gradual recovery" for the U.S. economy following fourth- quarter growth "importantly driven by inventory corrections." Nevertheless, San Francisco Fed Yellen, who might take the Vice Chairman Role after Kohn retires in June, said it's not time to tightening monetary policy yet. Yellen believes the current accommodative policy is appropriate as "the economy is operating well below its potential and inflation is subdued." Fed Chairman Bernanke is scheduled to testify before the House Financial Services Committee today in Washington on the strategy for withdrawing stimulus and will receive much focus from the markets. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Sell At 1.3400 Euro's intra-day fall to 1.3283 signals recent selloff is still in progress and further weakness to 1.3246 (50% projection of 1.4580 to 1.3433 measuring from 1.3819) would be seen, however, near term oversold condition should prevent sharp fall below 1.3214 (100% projection of 1.3819-1.3463 measuring from 1.3570) but reckon 1.3150/60 would hold from here, bring a minor correction probably tomorrow. Full Report Here... Trade Idea: USD/JPY - Buy At 91.60 Yesterday's rally after breaking resistance at 91.09 signals early correction from 93.78 has ended at 88.14 earlier and although dollar retreated after hitting a high of 92.42 yesterday, renewed buying interest should emerge well above the Tenkan-Sen (now at 91.37) and bring another upmove later. Above said resistance would extend gain towards next chart resistance at 93.31 but it is necessary to see a breach of this level to confirm early upmove from 84.82 has finally resumed and headways towards chart resistance at 93.78 would follow. Full Report Here... | | Featured Technical Report | Market Highlights | EUR/USD Daily Outlook Daily Pivots: (S1) 1.3248; (P) 1.3377; (R1) 1.3442; More. EUR/USD drops further to as low as 1.3283 today and intraday bias remains on the downside. Current fall from 1.3817 is part of the whole medium term decline from 1.5143 and should now target 61.8% projection of 1.4578 to 1.3443 from 1.3817 at 1.3116 next. On the upside, above 1.3377 minor resistance will turn intraday bias neutral and bring consolidations. But upside should be limited well below 1.3817 resistance and bring fall resumption. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | USDCAD | 1.0227 | 1.0265 | -38 | -0.37% | | EURCAD | 1.3615 | 1.3663 | -48 | -0.35% | | EURAUD | 1.4621 | 1.4670 | -49 | -0.34% | | AUDUSD | 0.9103 | 0.9073 | +30 | +0.33% | | EURJPY | 122.53 | 122.88 | -35 | -0.29% | Last Updated: Mar 25, 06:55 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Mar 25, 06:55 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 21:45 | NZD | GDP Q/Q Q4 | 0.80% | 0.80% | 0.20% | 0.30% | | 21:45 | NZD | GDP Y/Y Q4 | 0.40% | 0.40% | -1.30% | | | 23:50 | JPY | Corporate Service Price Y/Y Feb | -1.30% | -1.10% | -1.00% | -1.20% | | 00:00 | USD | Fed's Donald Kohn Speaks | | -- | -- | | | 00:30 | AUD | RBA Semi-Annnual Financial Stability Review | | -- | -- | | | 07:00 | EUR | German GfK Consumer Confidence Apr | | 3.1 | 3.2 | | | 09:00 | EUR | Eurozone M3 Y/Y Feb | | -0.10% | 0.10% | | | 09:30 | GBP | Retail Sales M/M Feb | | 0.80% | -1.80% | | | 12:30 | USD | Initial Jobless Claims | | 450K | 457K | | | 13:10 | USD | Fed's Sandra Pianalto Speaks | | -- | -- | | | 14:00 | USD | Fed's Bernanke Testifies | | -- | -- | | | 14:30 | USD | Natural Gas Storage | | 10B | -11B | | | | 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