| 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 |
Daily Report: Euro Extends Recovery on Greece, France and Spain Auction EyedEuro extends recovery against other major currencies on report that Greece is close to a deal with private sector investor on debt swap. An unnamed official said that there could be an agreement by the end of this week. With the deal, private creditors would have the face value of their Greek bonds cut by as much as 50% through swapping existing bonds with ones with longer maturity and lower interest rates. That could help Greece secure loans from EU/IMF and get through the critical date of March 20, which it will face EUR 14.5 bond repayments. Another official also noted that Greece is still considering the so called collective action clause on its bonds if only a minority of bond holders disagree to the deal. Meanwhile, it's also reported that IMF approved its staff to official start discussion with Greece on an expanded bailout. At this point, EUR/USD is still held by near term resistance at 1.2878 while EUR/AUD is also kept well below 1.2446, and thus, there is no indication of near term reversal yet. Though, EUR/JPY's breach of 98/80 resistance is taken as a sign of bottoming and we'll see if the EUR/JPY could lead other pairs higher. |
|
| Featured Technical Report | |
EUR/JPY Daily OutlookDaily Pivots: (S1) 98.03; (P) 98.46; (R1) 99.23; More EUR/JPY's break of 98.80 resistance suggests that a short term bottom is formed at 97.03 on bullish divergence condition in 4 hours MACD. Intraday bias is mildly on the upside and stronger rebound could be seen to 38.2% retracement of 105.54 to 97.03 at 100.28. But near term outlook will remain bearish as long as 102.48 support turned resistance holds and recent decline is still expected to continue. On the downside, below 97.68 minor support will flip bias back to the downside for retesting 97.03 low first. |
| Special Report |
China Watch: Shift To Monetary Easing Should Support Chinese Growth In 2012The Chinese economy grew +8.9% y/y in 4Q11, down from +9.1% in the prior quarter. Despite the slowdown, the result beat consensus and brought relief to those who worried that growth would have slipped below 8%. Expansion in the fourth quarter was driven by surge in industrial production and retail sales. For full year 2011, GDP growth reached +9.2%, in line with market expectations. The question now comes to how the world's second largest economy would perform in 2012 given external headwinds and domestic slowdown. In our opinion, a soft landing is a likely scenario and the chance of sub-8% growth is quite low as policy easing by the government helps limit the downside risks to growth. We expect GDP will grow by mid-8% in 2012. |
| 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! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2012 Elliott Wave Forecast | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Session: Orders and Options WatchEUR: The single currency continued to move higher since yesterday and hit a high of 1.2880 and orders from various parties are still noted there (for protection of stops above), mixture of offers and stops (both in good size) is also reported at 1.2900 but fresh orders are likely to emerge further out at 1.2950 and also 1.3000. On the downside, bids from Middle East, Russian and corporate names are lined up from 1.2820 down to 1.2800, more buying interest is expected to emerge around 1.2740-50 with stops building up below 1.2730 and 1.2700 (large). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/USD – Buy at 1.2750Although the single currency has eased after faltering below resistance at 1.2879, yesterday’s rally signals a temporary low has been formed at 1.2624 and near term rise from this last week’s low may bring retracement of recent decline, above said resistance at 1.2879 would extend gain to 1.2900/05 (61.8% Fibonacci retracement of 1.3077 to 1.2624), however, , however, near term overbought condition should limit upside to 1.2940-50 Trade Idea: USD/JPY – Buy at 76.15Although dollar’s rebound from 76.55 (this week’s low) suggests consolidation would be seen, as long as resistance at 77.14 holds, near term downside risk remains for another test of said support, break there would extend recent decline towards 76.10/15, however, still reckon psychological support at 76.00 would hold from here and bring another rebound later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Suggested Readings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2012 Outlook
Fundamental Highlights
Technical Highlights
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| ||||||||
No comments:
Post a Comment