EUR/USD Heading to 1.5 after Passing Greece Test, ECB Eyed

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Action Insight Weekly Report	Markets Snapshot
EUR/USD Heading to 1.5 after Passing Greece Test, ECB Eyed Euro rose sharply last week as the Greece situation finally got a near term solution. Nonetheless, note that EUR/CHF did make another record low during the week and there is no clear signal of reversal so far. Also, the swiss franc managed to made new record high against dollar and sterling and remained strong there. We'd believe that swissy was the strongest currency for the moment (even though EUR/CHF closed the week higher) on risk aversion. This time, dollar's inverse relationship with risk assets was loosen up and the greenback was troubled by poor economic data. There were some speculation of the possibility of QE3 even though that remains highly unlikely. Looking ahead, dollar will likely remain weak against Euro, swissy and yen while Euro's fate will very much depend on this week's ECB meeting. Full Report Here...
Featured Technical Report
EUR/USD Weekly Outlook EUR/USD's rise from 1.3969 extended further to as high as 1.4624 last week and remained firms. As noted before, pull back from 1.4938 should have completed at 1.3969 already. Initial bias remains on the upside this week for retesting 1.4938 first. Break will confirm up trend resumption for 1.5143 resistance next. On the downside, below 1.4450 minor support will turn bias neutral and bring consolidations before staging another rally. 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