Update Daily Investment News

Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.3925 and 1.3903(main), where correction is possible. Break would give 1.3892, where correction also may be. Then follows 1.3872. Break of the latter would result in 1.3849. If a strong impulse, we would see 1.3816. Continuation will give 1.3794 and 1.3772.Today's resistance: - 1.3998, 1.4037, 1.4088 и 1.4133(main). Break would give 1.4176, where a correction is possible. Then goes 1.4223. Break of the latter would result in 1.4254. If a strong impulse, we'd see 1.4276. Continuation will give 1.4299.
USD/JPY
Today's support: - 90.00(main). Break would bring 89.82, where correction is possible. Then 89.47, where a correction may also happen. Break of the latter will give 89.10. If a strong impulse, we would see 88.66. Continuation would give 88.22.Today's resistance: - 90.81(main), where a correction may happen. Break would bring 90.90, where also a correction may be. Then 91.18. If a strong impulse, we would see 91.34. Continuation will give 91.78.
DOW JONES INDEX
Today's support: - 10247.80, 10211.48 and 10168.24(main), where a delay and correction may happen. Break of the latter will give 10155.70, where correction also can be. Then follows 10140.87. Be there a strong impulse, we would see 10119.30. Continuation will bring 10092.25 and 10068.76.Today's resistance: - 10308.22, 10336.60 and 10350.24(main), where a delay and correction may happen. Break would bring 10374.40, where a correction may happen. Then follows 10728.70, where a delay and correction could also be. Be there a strong impulse, we'd see 10470.94. Continuation would bring 10496.30 and 10527.12

Fibonacci Chart Shows Dow Peaked in January: Technical Analysis
(Bloomberg) -- The Dow Jones Industrial Average may have peaked when it closed at 10,725 last month, according to an analysis by Execution LLC using so-called Fibonacci numbers to forecast bull and bear markets. The level, the highest since September 2008, represented about 1.618 times the benchmark’s close of 6,626.94 on March 6, when the index sank to a 12-year low intraday, according to Rick Bensignor, chief market strategist for the New York-based brokerage. The 1.618 factor, or golden ratio, defines the numerical sequence popularized in Europe by Italian mathematician Leonardo Fibonacci during the 13th century.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSWkxfBug164

Gold May Repeat Early Rally, Citigroup Says: Technical Analysis
(Bloomberg) -- Gold may extend gains as the metal repeats a trend of rallying at the start of the month, said Citigroup Inc., citing historical patterns. The attached chart shows the “aggressive” rallies in the first few sessions of each month since September. Gold gained 2.3 percent yesterday, the most since Nov. 3, and was up 0.8 percent at $1,114.60 an ounce at 12:13 p.m. in London.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_xN6V3et8e4

Oil May Pull Back After Rising Above $78: Technical Analysis
(Bloomberg) -- Crude oil may pull back below $73 a barrel even if the market retraces two weeks of losses and climbs back above $78, National Australia Bank Ltd. said. Oil, which fell in January in its first monthly decline since July, is “on the defensive” after technical support marked by two short-term moving averages was breached, said Gordon Manning, a Sydney-based technical analyst at Australia’s fourth-largest bank. While prices are rebounding, the risk remains skewed to the downside, he said.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abolZ2IykJCA

El-Erian Says Retreat in Stocks Will Worsen as Economy Slumps
(Bloomberg) -- Mohamed A. El-Erian, whose firm runs the world’s biggest mutual fund, said the largest stock market decline in 11 months may worsen amid persistent U.S. joblessness and economic growth that trails analysts’ forecasts. Investors have wrongly priced in an “orderly” withdrawal of stimulus measures, a rebound in bank lending and coordinated government policy to restore growth, the chief executive officer of Pacific Investment Management Co. wrote in a Bloomberg News column. That means Wall Street projections for gains in 2010 may prove incorrect and prices will slump, he said.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKp04HpeyeLU

Technical Analysis's Tao Says Asian Stocks May Rally: Video

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPWrpnXaOp.g

Art Cashin: Oversold Stock Markets in Reflex Rally
By: JeeYeon Park CNBC News Associate
Stocks continued to rise on Tuesday following Monday's rally. How long will the market rally continue? Art Cashin, director of floor operations at UBS Financial Services, shared his insights.

http://www.cnbc.com/id/35187576

Oil, Goldman Sachs Pops Confirm This Market is For Traders, Not Investors
By: John Melloy Executive Producer, Fast Money Beyond the money
Today’s (and yesterday’s) action confirms this is a market for traders — not investors — as oil and other commodities lead a rebound in the related share prices. Consider the case of Freeport-McMoran [FCX Loading... () ], the largest publicly-traded copper producer in the world. From the stock’s early January peak until its late January low, the shares fell about 20 percent.

http://www.cnbc.com/id/35197585