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| Action Insight Weekly Report | Markets Snapshot |
Euro Rebounded on Pact Agreement, Yen Strong after Earthquake, Dollar BearishEuro and was initially sold off last week on renewed concern on European debt crisis, pull back in risky assets and Japanese earthquake last week. However, the common currency staged a strong rebound towards the end after Eurozone leaders reached agreement on a German proposed competitiveness pact. Euro then led Sterling, Aussie and Loonie rebound against the greenback. Yen ended the week strong on expectation for repatriation after the natural disaster. Dollar, on the other, was limited below key near term resistance levels and maintained its bearish outlook. |    |
| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD rebounded after dipping to 1.3751 last week. The break of near term trend line support was brief and EUR/USD is back trading above this support, thus retaining bullish outlook. Initial bias is mildly on the upside this week for a test on 1.4035 resistance first. Break of 1.4035 will confirm rally resumption for 1.4281 key resistance next. On the downside, though, break of 1.3751 support will now confirm that EUR/USD has at least made a short term top and should turn outlook bearish for 1.3427 support and below. |
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The Week in Review and Preview |
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