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| Action Insight Weekly Report | Markets Snapshot |
Mid-Day Report: Risk Markets Tumble ahead of Crucial Greek Austerity VoteRisk markets are sold off sharply today as investors are lightening their positions ahead of the austerity package vote in Greece this weekend, probably on Sunday. The vote is crucial for Greece to secure the EUR 130b second bailout, in timely manner, to avoid disorderly default in March. EU head of finance ministers had made it bluntly clear that "no disbursement without implementation" and EU will review the package from Greece again next Wednesday. Juncker also urged ECB to "look, within the framework of its independence, what sort of contribution it can make to the debt reduction of Greece". At the time of writing, European stock indices are broadly lower with DAX and CAC down more than -1%. In the currency markets, dollar rebounds strongly against other major currencies. |
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| Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9086; (P) 0.9119; (R1) 0.9148; More.... USD/CHF's strong recovery and break of 0.9151 minor resistances indicates that a temporary low is in place at 0.9089. Intraday bias is turned neutral for some consolidations. But near term outlook will stay bearish as long as 0.9262 resistance hold. Another decline is still in favor and below 0.9089 will target 0.9065 and then 0.8567 key support level. However, break of 0.9262 will indicate that fall form 0.9594 is likely completed with bullish convergence condition in 4 hours MACD and bring stronger rebound to 61.8% retracement of 0.9594 to 0.9089 at 0.9401 and above. |
| Special Reports |
As Expected, BOE Added More Stimulus while ECB Stood AsideThe BOE expanded the asset purchase program by +50B pound to 325B pound and left the Bank rate at 0.5%. As mentioned in the policy statement, 'the underlying pace of recovery slowed during 2011, with activity falling slightly during the final quarter. While policymakers noted that 'some recent business surveys have painted a more positive picture and asset prices have risen', the pace of expansion in the country's major exporters 'has also slowed and concerns remain about the indebtedness and competitiveness of some euro-area countries'. |
| 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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Trade Idea update will resume on Tuesday - 21 Feb 2012. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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