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| Action Insight Weekly Report | Markets Snapshot |
Risk Sold Off, Dollar Rallied. Early Part of the Trend So FarRisk assets were sharply off last week after Fed's operation twist announce received poor response from the markets. In addition, the sentiments were hurt by fear of recession in US, Greece default and contagion impacts as well as slowing growth. DOW suffered the biggest weekly loss since 2008 while CRB commodity index dropped to a nine-month low with gold suffered one of it's biggest daily loss since 1983 and silver posted one of the largest daily fall in 32 years. 10 year yield moves further away from 2% level to close at 1.8% after making another historical low while 30 year yield also closed below 3% at 2.87%. Dollar index extended recent rally to close at 78.5 after touching a medium term fibonacci level. Yen also strengthened on risk aversion and made new record high against Sterling. |    |
| Featured Technical Report | |
GBP/JPY Weekly OutlookGBP/JPY dropped to as low as 116.83 last week and took out 118.81 prior historical low with relative ease. Initial bias remains on the downside this week with 119.13 minor resistance intact and current fall should then target 161.8% projection of 130.83 to 123.29 from 127.31 at 115.11 in near term On the upside, above 119.13 minor resistance will turn bias neutral and bring consolidations. But recovery should bel limited below 123.29 support turned resistance and bring fall resumption. |
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The Week in Review and Preview |
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