Sentiments Weighed Down by Egypt's Turmoil, USD & JPY Recovered on Safe Haven Flows The market moving events in the early part of last week was overshadowed towards the end by Egypt's turmoil. Safe haven assets, including Dollar, Swiss Franc and Japanese Yen staged strong rebound on late Friday. Gold and crude oil also pared much of earlier losses. In particular, yen's rebound was impressive considering earlier selloff triggered by S&P downgrade. Nevertheless, these moves were exaggerated by thin liquidity on a Friday as well as the second last trading day of January. While we're expecting more upside in Swissy, Yen and Dollar in the initial part of this week, we won't be surprised to see the markets reverse once again towards the end of the week. Full Report Here... | 
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EUR/CHF Weekly Outlook Current development suggests that EUR/CHF's rebound from 1.2401 has finished at 1.3067 already. Initial bias is cautiously on the downside this week for 1.2724 support first. Break will confirm this bearish case. Also, in such case, the larger down trend would likely be resuming for another low below 1.2401, with next target at 61.8% projection of 1.3833 to 1.2401 from 1.3067 at 1.2182. On the upside, however, above 1.3000 minor resistance will dampen this view and bring another rise to extend the correction to above 1.3067 instead. Read more... |
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