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Weekly Review and Outlook: Strong Return of Risk Appetite, Dollar Index Heading Back to 80?

Action Insight (All Reports) — Sat, 04 Sep 2010 18:36:35 +0000

Dollar was broadly lower last week on return of risk appetite following some solid economic data from US and China. Non-farm payroll showed a solid 67k expansion in the private job market even though the headline number showed -54k contraction. Both figures were better than expectation of 40k and -105k

EUR/USD Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 10:01:54 +0000

EUR/USD’s recovery extend further to as high as 1.2896 last week but is still limited below mentioned 1.2921 resistance. Considering that it’s near to this resistance, we’ll stay neutral initially this week. As long as 1.2921 resistance holds, we’d still expect fall from 1.3330 to resume sooner or later. Below

USD/JPY Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 09:47:12 +0000

USD/JPY stayed in choppy sideway trading last week as consolidations for 83.61 continued. Initial bias remains neutral this week and some more consolidations could still be seen. Note that above 85.89 will bring stronger rebound. But even in such case, upside upside should be limited well below 88.25 support turned

GBP/USD Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 09:34:27 +0000

GBP/USD dipped to 1.5326 last week but turned sideway since then. Initial bias remains neutral this week and some more consolidations could be seen. Nevertheless, upside is expected to be limited by 1.5596 resistance and bring resumption of fall from 1.5997. Below 1.5326 will target 1.5123 cluster support (50% retracement

USD/CHF Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 09:33:35 +0000

USD/CHF dropped sharply to as low as as 1.0064 last week before recovering mildly. Initial bias is neutral this week and some sideway trading might be seen first. But still, short term outlook remains bearish as long as 1.0330 resistance holds and another fall is still expected. Below 1.0064 will

AUD/USD Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 09:08:03 +0000

AUD/USD jumped sharply to as high as 0.9174 last week and the strong rise affirms the case that AUD/USD has not topped out yet. Initial bias remains on the upside this week for 0.9220 and then 61.8% projection of 0.8315 to 0.9220 from 0.8770 at 0.9329 next. On the downside,

USD/CAD Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 09:07:05 +0000

USD/CAD had another attempt on 1.0675 resistance last week but failed and reversed sharply. Subsequent fall fro 1.0671 dragged daily MACD below signal line and suggests that rise from 1.0106 is already finished. More importantly, the development indicates that USD/CAD is still bounded inside recent range of 1.0106 and 1.0851.

EUR/GBP Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 08:50:57 +0000

EUR/GBP's rebound from 0.8141 extended further last week and the break of 0.8281 resistance indicates that fall from 0.8530 is completed at 0.8141 already. Initial bias is mildly on the upside this week for 0.8361 resistance first. Break will target a test on 0.8530 next. On the downside, break of

EUR/CHF Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 08:43:14 +0000

EUR/CHF's down trend extended to as low as 1.2850 last week but the cross formed a short term bottom there and staged a strong rebound. Initial bias is mildly on the upside this week as recovery from 1.2850 continues. Further rise could be seen to 1.3270/3455 resistance zone but upside

EUR/JPY Weekly Outlook

Action Insight (All Reports) — Sat, 04 Sep 2010 08:28:24 +0000

EUR/JPY's consolidation continued last week and stayed in range of 105.42/109.54. Initial bias is mildly on the upside this week and further rise might be seen as consolidations continue. Nevertheless, upside is still expected to be limited by 111.09 cluster resistance and bring resumption of fall from 114.72. Below 107.45