| Having trouble viewing this email? Click here |
 | |
| 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 Weekly Report | Markets Snapshot |
Euro and Sterling Sold off on European Debt Crisis, Dollar ReboundedEuropean debt crisis remained a major theme last week as Euro and Sterling were under much pressure. Indeed, both were sold off sharply after Moody's downgrades Ireland's rating sharply by 5-notches from Aa2 to Baa1. Euro and Sterling both made new record low against Swissy and Aussie during the week. On the other hand, dollar jumped, except versus Aussie and swissy, after US president Obama finally signed in law the $858b bill for extending tax cuts for another two years. Rally in longer term treasury yields also helped the greenback but such boost faded towards the end of the week as yield lost steam and dragged USD/JPY back into range after a breakout attempt. |    |
| Featured Technical Report | |
EUR/CHF Weekly OutlookEUR/CHF's decline extended further to as low as 1.2719 last week and the break of 1.2765 low indicates that the larger down trend is resuming. Initial bias remains on the downside this week and deeper fall should be seen to 61.8% projection of 1.5138 to 1.2765 from 1.3833 at 1.2366 next. On the upside, above 1.2868 minor resistance will turn intraday bias neutral and bring consolidations. But outlook will remain bearish as long as 1.3204 resistance holds. |
| Forex Brokers | ||||
|
| Suggested Readings | |
The Week in Review and Preview |
| |
| ||||||
No comments:
Post a Comment