Action Insight Mid-Day Report 12-28-10

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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Dollar Extends Weakness, New Record Low Against Swissy Dollar's selloff extends further today and, in particular, reaches new record low against Swiss Franc. Treasury yields recover in early US session but gives little support to the greenback. Gold rides on dollar's weakness and jumps back to above 1400 level while crude oil is steady above 91. Both are giving strong support to commodity currencies with AUD/USD heading towards 1.0181 record high while USD/CAD breaks below parity again. Nevertheless, Euro and Sterling are both relatively weak as selling pressures build up in respective swiss and yen crosses. Full Report Here...
Featured Technical Report
USD/CHF Mid-Day Outlook Daily Pivots: (S1) 0.9568; (P) 0.9607; (R1) 0.9639; More. USD/CHF falls to as low as 0.9434 so far today and the break of 0.9462 low confirms that recent down trend has resumed. Intraday bias remains on the downside and further decline should be seen to next target of 100% projection of 1.2296 to 0.9916 from 1.1729 at 0.9349. on the upside, break of 0.9663 resistance is needed to confirm short term bottoming. Otherwise, outlook will remain bearish even in case of recovery. 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	This is the ultimate opportunity to meet face-to-face with industry leaders, test out the hottest products and software, and pick up trading ideas and strategies you can implement immediately to increase your percentage of profitable trades!  The New York Traders Expo.
GMT Ccy Events Actual Consensus Previous Revised 23:30 JPY Household Spending Y/Y Nov -0.40% 0.30% -0.40% 23:30 JPY Unemployment Rate Nov 5.10% 5.10% 5.10% 23:30 JPY Tokyo CPI Core Y/Y Dec -0.40% -0.40% -0.50% 23:30 JPY National CPI Core Y/Y Nov -0.50% -0.50% -0.60% 23:50 JPY Industrial Production M/M Nov P 1.00% 0.90% -2.00% 23:50 JPY Industrial Production Y/Y Nov P 5.80% 5.50% 4.30% 23:50 JPY Retail Sales Y/Y Nov 1.30% 0.40% -0.20% 07:00 CHF UBS Consumption Indicator Nov 1.63 -- 1.72 1.71 14:00 USD S&P/Case-Shiller Composite-20 Y/Y Oct -0.80% -0.18% 0.59% 15:00 USD Consumer Confidence Dec 52.5 56.3 54.1
Forex Trade Ideas
Merry Christmas and Happy New Year, next Ichimoku & Candlestick Trade Idea, and Elliott Wave Trade Ideas update will resume on 3 Jan 2011. Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400
Suggested Readings
Fundamental Highlights Lackluster Bonds Turn South in Face of Supply Mountain EUR/USD Tries to Form a Rounded Bottom Dollar Weaker in Thin Trading Thin Markets Trip up Dollar Are We Heading For Further JPY Intervention? Technical Highlights EURJPY: Breaks The 108.32 Level AUDUSD: Breaks The 1.0026/84 Zone, Eyes 1.0181 Level FX Thoughts for the Day EUR/USD Bullish Breakout with Perspective of Further Growth

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