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Daily Report: Euro Steady in Tight Range in Thin Holiday MarketsMarkets are staying in tight range in Asia today in holiday mood. Europe will remain the focus in otherwise quiet trading. Italy's 10 year bond yield breached 7% again last Friday, after Senate gave final approval to the EUR 30b austerity package. Italian bonds would likely remain pressured ahead of the auction of 2014, 2018, 2021 and 2022 bonds later this week and thus, limit Euro's rebound attempt. Also, traders would remain cautious on taking too much position in Euro, either long or short, as S&P could downgrade Eurozone nations any time this week. |
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| Featured Technical Report | |
USD/CAD Daily OutlookDaily Pivots: (S1) 1.0181; (P) 1.0197; (R1) 1.0215; More... With 4 hours MACD crossed above signal line, a temporary low is formed at 1.0173 and intraday bias is turned neutral for the moment. Another fall is mildly in favor with 1.0304 minor resistance intact. Below 1.0173 will target lower trend line support (now at 1.0114) and possibly below. However, as USD/CAD is likely bounded in triangle consolidation from 1.0656 and hence, downside of the fall should be contained above 1.0051 and bring resumption of whole rebound from 0.9406 eventually. Above 1.0304 minor resistance will flip bias back to the upside for 1.0422 and above. Nonetheless, break of 1.0051 would target a test on 0.9891 support next. |
| Economic Indicators Update | Don’t miss the largest investor and trader gathering in the World—The World MoneyShow Orlando, February 9-12, 2012 at the Gaylord Palms Resort. Be there as recommendations and advice are revealed for how to best position your portfolio for profit—in 2012 and beyond. Register Free Today! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Merry X'mas and a Happy New Year, no update next week, next Candlesticks and Ichimoku Trade Idea update will be made on 2 January 2012 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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