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Daily Report: Euro Soft as Greek PSI Talk Drags OnEuro is mildly softer today as Greek PSI talk drags on. Also, trading activities are subdued in Asia due to Chinese new year holiday. After intensive discussion over the weekend, there is no clear outcome from Greece and private investor on the debt swap deal yet. It's believed private creditors should have agreed on cutting down up to 70% on Greece debt values but many details remains unresolved. Note to mention that the plan needs to be approved by IMF and EU ministers. A key topic of negotiation is the new bond coupon rates which is believed to be around 4-4.5%. But IMF is insisting on around 4% coupon rate. Meanwhile, EU finance ministers will meet today in Brussels to discuss new budget rules, firewall to safeguard indebted Eurozone countries and the terms on the Greek swap deal. |
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| Featured Technical Report | |
EUR/JPY Daily OutlookDaily Pivots: (S1) 99.22; (P) 99.78; (R1) 100.14; More Intraday bias in EUR/JPY remains neutral for the moment and some more consolidations could be seen. But rebound from 97.03 short term bottom is in favor to continue with 98.54 minor support intact and above 100.33 will bring stronger rebound. Though, there is no indication of down trend reversal yet as long as 102.53 resistance holds. That is fall from 111.57 is expected to continue. Below 98.54 minor support will flip bias back to the downside for retesting 97.03 low. |
| 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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Due to Chinese New Year holidays, next Candlesticks and Ichimoku Trade Idea update will be made on Wednesday 25 Jan. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||
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