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| Action Insight Weekly Report | Markets Snapshot |
Dollar Broadly Lower as the Highly Anticipated FOMC Meeting ApproachesDollar ended the week as the second weakest major currencies as markets are preparing for the highly anticipated FOMC meeting this week. After all the talks and speculations, it's still a close call on whether Fed would lift interest rate from the current near zero level at this particular meeting. The uncertainty on the impact of recent turmoil in the financial markets is seen as the main reason to delay Fed's first hike to start ending the ultra easing era since 2008 global financial crisis. |
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| Featured Technical Report | |
EUR/JPY Weekly OutlookEUR/JPY surged strongly last week and the development suggests that fall from 141.04 has completed at 133.22 already. The three wave corrective structure suggest that it's a correction and the rebound from 126.09 might be resuming. Initial bias remains on the upside this week for 138.99/141.04 resistance zone first. We'll be cautious on strong resistance from this zone to bring reversal to extend sideway trading. Nonetheless sustained break of 141.04 will target 100% projection of 126.09 to 141.04 from 132.33 at 147.17. Meanwhile, below 135.19 minor support will turn bias neutral first. |
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The Week in Review and Outlook
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