Markets Mixed after an Eventful Week Markets are left rather mixed after a week of central bank surprises and Greek drama. It once looked like another round of risk selloff, dollar rebound is around the corner but resolution in Greece political turmoil dampened the chance. There markets are facing different factors and it seems that participants are rather confused about what to do next. Firstly, the never-ending European debt crisis simply won't go away easily. Secondly, the major economies are facing increasing recession risk. Thirdly, Fed is now stepping closer to QE3. Fourthly, other global central banks have now entered into an easing cycle as focus turned from inflation to growth. The direct and indirect impact of these factors are quite complicated. The technical pictures are mixed too. Hence, we'd expect a short period of volatility without direction in the markets for them to sort out the main underlying forces. Full Report Here... | 
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EUR/USD Weekly Outlook EUR/USD dropped sharply to as low as 1.3608 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some sideway trading. On the downside, below 1.3608 will indicate that fall from 1.4246 has resumed. Also, this will reaffirm the case that rebound from 1.3145 is completed at 1.4246, just ahead of 61.8% retracement of 1.4939 to 1.3145 at 1.4254. In such case, deeper fall should be seen to 1.3145 low first On the upside, though, above 1.3871 will flip bias back to the upside for a test on 1.4246 resistance instead. Read more... |
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