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Daily Report: Risk Rally Takes Euro HigherRisk markets staged another day of strong rally as boosted by solid earnings from Goldman Sachs, Johnson & Johnson and others. DOW closed up 0.95% at 13551.78 and looks set to challenge 2012 high of 13661.87 soon. Asian equities followed with Nikkei up over 100 pts and HK HSI up over 200 pts at the time of writing. In the currency markets, Aussie did get some lift from risk appetite against dollar. But Euro remains the strongest one as boosted by intensified speculations on Spanish bailout. Meanwhile, Canadian dollar is the weakest one after yesterday's selloff triggered by BoC Carney. |
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| Featured Technical Report | |
USD/CHF Daily OutlookDaily Pivots: (S1) 0.9231; (P) 0.9284; (R1) 0.9311; More... USD/CHF's fall continues today and reaches as low as 0.9214 so far. The break of 0.9238 support confirms resumption of whole decline from 0.9971. Intraday bias remains on the downside and current fall should target 61.8% projection of 0.9971 to 0.9238 from 0.9431 at 0.8978, which is close to 0.8930 key support level. On the upside, above 0.9286 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited below 0.9431 resistance and bring another fall. |
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Due to holidays, no update next week and next Candlestick and Ichimoku Trade Idea update will be made on Monday 22 Oct 2012. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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