Action Insight Daily Report 5-21-10

Action Insight	Candlesticks Trades	Markets Summary	Action Bias	Top Movers	Daily Technicals
Calendar	Elliott Wave Trades	Markets Volatility	Pivot Points	Heat Map	Daily Fundamentals

Action Insight Market Overview	Markets Snapshot
Daily Report: Intervention Talks Dominate, Euro Extends Rebound, Yen Steady Despite Falling Stocks Asian stocks tumble sharply following yesterday's -376pts fall in DOW. Nikkei is down -2.45% to close at 9784, 10000 for the first time since February. Gold also drops to as low as 1166 level before recovering mildly. However, there is little reaction in the forex markets as traders are holding their bets as intervention talk circulates around. Euro extends this week's rebound broadly, led by another sharp rally in EUR/CHF which breaches 1.45 level. Japan Finance Minister Kan is quoted saying he's closely watching markets to ensure the "won't be any excessive yen rises." There are also rumors that RBA is checking prices amid this week's free fall in Aussie. Full Report Here...
Featured Technical Report
EUR/CHF Daily Outlook Daily Pivots: (S1) 1.4188; (P) 1.4321; (R1) 1.4501; More EUR/CHF had another sharp rally and soared to as high 1.4587 but once again retreated sharply. The break of 1.4465 resistance bears important technical implications as it suggests that a medium term bottom is formed at 1.4002. While some more volatility is anticipated, we'd expect more short positions to be closed out in near term and the cross would likely continue to rebound further. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Forex Brokers

Economic Indicators Update	Attend The Traders Expo in Los Angeles, June 9-12, at the Pasadena Convention Center; your best opportunity in 2010 to meet face to face with the experts, test the latest products and software, and network with other traders to find out what’s working for them…and what isn’t. Attend free, learn from trading experts, and become a more confident, profitable trader. Register FREE
GMT Ccy Events Actual Consensus Previous Revised 3:40 JPY BoJ Interest Rate Decision 0.10% 0.10% 0.10% 6:00 EUR German GDPQ/Q Q1 F 0.20% 0.20% 0.20% 7:30 EUR German PMI Services May A 55.4 55.2 7:30 EUR German PMI Manufacturing May A 61.2 61.5 8:00 EUR German IFO - Expectations May 103.5 104 8:00 EUR German IFO - Business Climate May 101.9 101.6 8:00 EUR German IFO - Current Assessment May 100 99.3 8:00 EUR Eurozone PMI Services May A 55.6 55.6 8:00 EUR Eurozone PMI Manufacturing May A 57.4 57.6 8:00 EUR Eurozone Current Account (EUR) Mar -2.7B -3.9B 8:30 GBP Major Banks Mortgage Approvals Apr 53K 52K 49K 8:30 GBP Public Sector Net Borrowing (GBP) Apr 10.9B 23.5B 8:30 GBP M4 Money Supply M/M Apr P 0.30% 0.20% 8:30 GBP M4 Money Supply Y/Y Apr P 3.80% 3.60% 11:00 CAD CPI M/M Apr 0.20% 0.00% 11:00 CAD CPI Y/Y Apr 1.70% 1.40% 11:00 CAD BoC CPI Core M/M Apr 0.10% -0.20% 11:00 CAD BoC CPI Core Y/Y Apr 1.80% 1.70% 12:30 CAD Retail Sales M/M Mar 0.00% 0.50% 12:30 CAD Retail Sales Less Autos M/M Mar 0.40% -0.10%
Suggested Readings
Fundamental Highlights 200DMA Breached In S&P500 As Senate Passes Financial Reform Bill Asia Attempts A Return To Risk Appetite, Will It Fail? Risk Aversion Drives Direction In FX And Equities! EURUSD Climbs As Officials Meet Today To Discuss EU Debt High Dollar Plunges Risky Asset Prices Technical Highlights USDJPY Bears On Course For The 88.23/12 Level Daily Technical Analysis The Daily Forecaster: USDJPY $/Cad, A$, Time to Take Large Profits?

Forward this report to a friend! This email was sent to rsmithadverts.pewpew@blogger.com by contact@actionforex.com. Update Profile/Email Address | Instant removal with SafeUnsubscribe™ | Privacy Policy. Email Marketing by Action Forex Company Limited | Room 1707, 17/F | Treasure Center | 42 Hung To Road | Kwun Tong | Kowloon | 852 | Hong Kong