Action Insight Weekly Report 7-1-12 (trusted: contact@actionforex.com)

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Action Insight Weekly Report	Markets Snapshot
Risk Sentiments Boosted by EU Summit, Dollar and Yen Selloff to Continue in Near Term Expectations on last week's EU summit was pretty low but the responses were overwhelmingly positive. Risk markets were given a strong boost where DOW jumped from an intraweek low of 12450 to close at 12880. European equities were also strong with FTSE jumped from intraweek low of 5435 to close at 5571, while DAX also rebound from intraweek low of 6096.9 to close at 6416. Commodity markets were also strong with CRB index rebounded to close at 284.19, after dipping to 266.78. Dollar index, on the other hand, dived to as low as 81.43 before closing at 81.62, comparing to intraweek high of 82.88. The strong momentum is risk markets suggests that more rally lies ahead in near term and we'd now possibly see DOW revisiting this year's high in Q3. Based on that development, dollar and yen would likely remain pressured. Full Report Here...
Featured Technical Report
EUR/JPY Weekly Outlook EUR/JPY dipped to 98.32 last week but quickly rebounded. The strong momentum firstly indicated that rebound from 95.64 is not over yet. Secondly, such rise might indeed be correction whole decline from 111.43. Initial bias remains on the upside this week for 101.62 first. Break will target 50% retracement of 111.43 to 95.64 at 103.53. On the downside, break of 98.32 support is needed to signal completion of such rebound. Otherwise, near term outlook will stay cautiously bullish even in case of retreat. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Suggested Readings
The Week in Review and Outlook A Light at the End of the Tunnel Weekly Focus: Italy Cuts Through Germany's Defence Weekly Economic and Financial Commentary The Weekly Bottom Line European Union Summit: Positive Steps, But Not the End of the Crisis Yet

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