Update Daily Investment News

Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.3618 and 1.3568(main), where correction is possible. Break would give 1.3547, where correction also may be. Then follows 1.3524. Break of the latter would result in 1.3486. If a strong impulse, we would see 1.3465. Continuation will give 1.3437 and 1.3410. Today's resistance: - 1.3687 and 1.3732(main). Break would give 1.3750, where a correction is possible. Then goes 1.3778. Break of the latter would result in 1.3805. If a strong impulse, we'd see 1.3837. Continuation will give 1.3863.
USD/JPY
Today's support: - 89.10 and 88.54(main). Break would bring 88.22, where correction is possible. Then 87.94, where a correction may also happen. Break of the latter will give 87.60. If a strong impulse, we would see 87.36. Continuation would give 87.18. Today's resistance: - 89.61 and 90.00(main), where a correction may happen. Break would bring 90.36, where also a correction may be. Then 90.68. If a strong impulse, we would see 91.18. Continuation will give 91.34.
DOW JONES INDEX
Today's support: - 9940.36, 9900.00, 9854.30 and 9821.30(main), where a delay and correction may happen. Break of the latter will give 9796.12, where correction also can be. Then follows 9770.63. Be there a strong impulse, we would see 9745.14. Continuation will bring 9717.28.Today's resistance: - 10035.12(main), where a delay and correction may happen. Break would bring 10042.62, where a correction may happen. Then follows 10057.55, where a delay and correction could also be. Be there a strong impulse, we'd see 10094.26. Continuation would bring 10127.80

Indonesia’s Economy Probably Expanded at Fastest Pace in a Year
(Bloomberg) -- Indonesia’s economy probably expanded at the fastest pace in a year in the fourth quarter as lower interest rates and government stimulus spurred consumer spending. Southeast Asia’s largest economy grew 5 percent in the three months to Dec. 31 from a year earlier, compared with 4.2 percent in the previous quarter, according to the median forecast of 18 economists in a Bloomberg News survey. The statistics bureau is due to release the data at about 10 a.m. tomorrow in Jakarta.

http://www.blogger.com/post-edit.g?blogID=6833542981102286398&postID=2996518916205999369

Euro to Fall on ‘Dead Cross’ Against Dollar: Technical Analysis
(Bloomberg) -- The euro may fall toward a 15-month low against the dollar after forming a so-called dead cross, said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. Ltd. in Tokyo. The European currency’s 50-day moving average, currently at $1.4324, dropped below its 200-day moving average of $1.4351 today, creating a dead-cross pattern. The euro slid 11.9 percent in less than two months after the last such cross occurred, dropping from $1.3998 on Sept. 10, 2008, to $1.2330 on Oct. 28, 2008.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZsI0s5W5Nao

China Stocks to Slump on ‘Cup and Handle’: Technical Analysis
(Bloomberg) -- China’s Shanghai Composite Index may fall to as low as 2,650 after a bullish “cup and handle” trend continuation pattern failed, according to Daryl Guppy, founder of Guppytraders.com Pty Ltd.“In the last week, the Shanghai index has moved below the 3,000 level and signals a higher probability the cup and handle pattern has failed,” Guppy said in a phone interview from Sydney. “There is a higher probability that the index will continue to move towards its longer-term historical support level of 2,650 to 2,700.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=alKqnbNVC2jk

Crude Oil to Rise to $75, Then Revisit Lows: Technical Analysis
(Bloomberg) -- Crude oil is poised to rise to $75 a barrel, recouping a week’s losses, before the market revisits chart support around $70, said National Australia Bank Ltd. Oil, which has slumped 14 percent in the past four weeks, will gain strength from “a bit of psychology” because the market has fallen too far and too fast for traders who make short-term bets, according to Gordon Manning, a Sydney-based technical analyst at Australia’s third-largest bank. While a rally is possible in the coming week, prices are probably set to decline further, he said.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQtay99662pQ

ECB May Be Forced to Delay Exit Amid Greece Concern
(Bloomberg) -- The European Central Bank may be forced to delay the withdrawal of emergency lending measures because it could inflame financial-market concerns about Greece, Spain and Portugal, economists said. Investors are already dumping those countries’ assets as their governments struggle to rein in budget deficits, making it more expensive for them to finance the debt. Should the ECB push ahead with its exit strategy by pulling its unlimited cash support for euro-area banks, interest rates could rise, further undermining confidence in Europe’s economic recovery.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acJH9FKtnE0M

US Economy Still at Risk of a Double Dip: Economist
By: JeeYeon Park CNBC News Associate
The economy is still at a risk of a double dip, said Peter Dixon, senior economist at Commerzbank Securities. However, he told investors that the U.S. is in no danger of losing its AAA debt rating.

http://www.cnbc.com/id/35297298

Earnings/Stocks Gap a 'Warning Sign'—Be Cautious: Strategist
By: JeeYeon Park CNBC News Associate
The recent pullback has investors wondering if this is a buying opportunity or a sign of worse to come for the markets. James Shelton, chief investment officer of Kanaly Trust, and David Katz, chief investment officer of Matrix Asset Advisors, shared their views.

http://www.cnbc.com/id/35296016

Correction is Healthy — and a Buying Opportunity: Strategist
By: JeeYeon Park CNBC News Associate
Markets opened lower and barely edged upward on Monday, as worries about Europe's debt woes concerned investors. Where are the best places to put your money now? Greg Merlino, president and founder of Ameriway Financial Services, and Ethan Anderson, portfolio manager at Rehmann Financial, shared their market strategies.

http://www.cnbc.com/id/35295647

Beginning Of A Bear?
y: Lee Brodie Producer
On Monday, the Dow [.DJIA Loading... () ] closed below the psychologically important 10,000 level for the first time since November as investors sold bank shares [XLK Loading... () ] due to ever growing concerns about the financial troubles in Europe.

http://www.cnbc.com/id/35297662

Oil, Copper, Sugar Are Top Commodity Picks, Morgan Stanley Says
(Bloomberg) -- Copper, crude oil and sugar are the top picks among commodities, with the three set to gain on increasing emerging-market demand and supply constraints as the global economy recovers, according to Morgan Stanley. Oil is “by far is our biggest bet among commodities,” Hussein Allidina, head of commodity research, said in an interview. “Copper remains the best pick among base metals as it has all the factors supporting oil.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0rAabtRbBdI

Indonesian Stocks Drop to Seven-Week Low, Led by Bumi, Telkom
(Bloomberg) -- Indonesia’s benchmark stock index dropped to a seven-week low after declines in commodity prices prompted a selloff in Asia’s second-best performing market last year. PT Bumi Resources, Asia’s largest exporter of power-station coal, dropped 2 percent after prices for the fuel slumped. PT Telekomunikasi Indonesia fell 2.8 percent after the government gave a lower-than-expected 2009 earnings forecast for the state- owned telephone company. PT Sumalindo Lestari Jaya plunged 24 percent, sliding for a second day after the company said it plans to sell new shares in a rights offer.

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

Weak Dollar Illusory as Correlated Trade Shows Gains
(Bloomberg) -- For all the concern over the $1.6 trillion U.S. budget deficit and record debt load, the dollar is as valuable now as 35 years ago. Measured against a basket of currencies from the Group of 10 nations proportioned by how they trade against each other, the greenback is up about 3 percent since 1975, according to Bloomberg Correlation-Weighted Currency Indexes. That was four years after the Bretton Woods agreement, set up in 1944 to link currencies to the price of gold, collapsed. The U.K. pound has dropped 34 percent and the Canadian dollar has fallen 6 percent.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVbhDaStbA1Q