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| Action Insight Weekly Report | Markets Snapshot |
Market Staged a Sharp Turn as 2014 Started, Jam-Packed Week AheadIt seemed like two totally different worlds in trading before and after the new year. Many markets have reversed the thin year end moves on the first two trading days of 2014. Equities tumbled with DOW closing at 16468.88 after making new record high of 16588.25. S&P 500 closed at 1831.37 after making a new high at 1849.99. German DAX also dropped sharply to close at 9435.15 after making a record high at 9620.93. The movements in bonds were relatively much mildly with 10 year yield facing much pressing from 3.0% handle and closed at 2.995%. Dollar index jumped sharply to close at 80.79 and the breach of 80.83 near term resistance carries some bullish implications. |
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| Featured Technical Report | |
EUR/USD Weekly OutlookEUR/USD's fall from 1.3892 accelerated to as low as 1.3672 last week. the break of 1.6258 support indicates that a short term top is at least formed. Considering bearish divergence condition in daily MACD, the rise from 1.2755 might be completed too. Initial bias remains on the downside this week for decline to 38.2% retracement of 1.2755 to 1.3892 at 1.3458 first. On the upside, above 1.3676 minor resistance will turn bias neutral and bring recovery. But risk will stays on the downside in near term. |
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The Week in Review and Outlook | ||
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