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| Action Insight Weekly Report | Markets Snapshot |
EUR/USD Broke 1.35 as Debt Worries Eased, Heading Back to 1.4Euro rebounded in broad based manner last week even though EU finance ministers failed to deliver anything concrete to resolve the current sovereign debt crisis for the long term. Nevertheless, markets were obviously buying into the idea that there will be a resolution to the problems eventually, with modest pain. Recent successful bond sales from peripheral countries did buy the Eurozone much time even though the agreement of the long term plan not be delivered until March. On the other hand, strong data from German also reminded investors that some stronger Eurozone countries were indeed benefited from weakness in the Euro. The break of 1.35 level in EUR/USD carried some technical significant and Euro's rebound would likely continue for at least a test on 1.4 psychological level. |    |
| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD's rebound from 1.2873 extended further to as high as 1.3623 last week and the strong break of 1.3496 resistance confirmed that whole fall from 1.4281 has finished at 1.2873 already. Initial bias remains on the upside this week for 1.3785 resistance first. Break will target another high above 1.4281. On the downside, below 1.3502 minor support will turn intraday bias neutral and bring retreat. But downside should be contained by 1.3245 support and bring another rise. |
| 2011 Currency and Monetary Policy Outlook | 2011 Elliott Wave Forecast |
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The Week in Review and Preview |
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