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| Action Insight Weekly Report | Markets Snapshot |
Dollar Selloff Accelerated after FOMC, More Downside to ComeDollar's down trend accelerated again last week after Fed Chairman Bernanke expressed that there is no time frame for the central bank to exit from policy stimulus. Dollar index breached 73 level to new three year low at 72.83 and is set to extend towards record low of 70.70. Almost everything else climbed against dollar. Gold soared to new record high near to 1570. Stocks extended recent up trend with DOW closed strongly at 12810. Among major currencies, Swissy Franc and Aussie were the biggest winner as the Swissy was boosted by hawkish comments from SNB. Aussie rode on strong CPI reading as well as commodities. |    |
| Featured Technical Report | |
USD/CHF Weekly OutlookUSD/CHF's down trend continued last week and dropped to new record low of 0.8625. Initial bias remains on the downside this week and further fall should now be seen to 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486 next. On the upside, break of 0.8832 resistance is needed to signal short term bottoming. Otherwise, outlook will remain bearish even in case of recovery. |
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The Week in Review and Preview |
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