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Daily Report: Korean Worry Fades, Eurozone Concerns StayDollar turns sideway today as Asian markets recover from yesterday's sharp selloff after impact from Korea fades. United Nations Command called for genearl office-level talks with North Korean through their Panmujom Mission to "descalate the situation" and stop "unprovoked attacks". Investors are also calmed a bit after South Korea said it will supply "ample" liquidity in local and foreign currencies if needed to shield markets from any shocks. Also, Fitch said it's not considering "negative rating action" on its A+ rating with a stable outlook for South Korea. Markets seem to be forgeting the Korean incidence quickly unless there will be another firing. |
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| Featured Technical Report | |
USD/CHF Daily OutlookDaily Pivots: (S1) 0.9889; (P) 0.9931; (R1) 1.0015; More. Intraday bias in USD/CHF remains neutral for the moment as it's still staying in tight range below 0.9996. Nevertheless, whole rebound from 0.9462 is still in favor to continue and break of 0.9996 will target 100% projection of 0.9462 to 0.9970 from 0.9547 at 1.0055 next and break will target 1.0330 key cluster resistance then. On the downside, however, below 0.9848 minor support will argue that rise form 0.9547 is completed and will flip bias back to the downside for 0.9462/9547 support zone instead. |
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| Featured Technical Report |
Fed Remains Concerned About Unemployment And Low InflationThe FOMC minutes for the November meeting provided few surprises. Although the committee revised growth forecasts lower and unemployment rates higher, these were predictable as economic conditions deteriorated sharply since June's projections. Policymakers were generally worried about the improvement in job market and sluggishness in inflation. Yet these comments were known through various public speeches by Fed officials since the November meeting. |
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Trade Idea: USD/JPY – Hold short entered at 83.20Although the greenback rebounded after yesterday's selloff from 83.85 to 82.78, reckon upside would be limited to the Ichimoku cloud area (now at 83.36-40) and bring another decline. A break of said support would bring a stronger retracement of recent upmove to 82.45/50 (61.8% Fibonacci retracement of 81.64 to 83.85), then towards 82.20 Trade Idea: EUR/USD – Sell at 1.3450As the single currency has recovered after yesterday's selloff to 1.3359 and price has broken above the Tenkan-Sen, suggesting minor consolidation would be seen and retracement to 1.3450/55 (38.2% Fibonacci retracement of 1.3600 to 1.3359) cannot be ruled out, however, reckon the Kijun-Sen (now at 1.3483) would hold, bring another decline later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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