Update Daily Investment News

Daily Forex Technicals |   Written by FXtechtrade
EUR/USD
Today's support: - 1.2510 and 1.2454(main), where correction is possible. Break would give 1.2418, where correction also may be. Then follows 1.2378. Break of the latter would result in 1.2353. If a strong impulse, we would see 1.2327. Continuation will give 1.2296.
Today's resistance: - 1.2678 and 1.2713(main). Break would give 1.2734, where a correction is possible. Then goes 1.2755. Break of the latter would result in 1.2784. If a strong impulse, we'd see 1.2812. Continuation will give 1.2832 and 1.2857.
USD/JPY
Today's support: - 89.66 and 89.33(main). Break would bring 89.12, where correction is possible. Then 88.82, where a correction may also happen. Break of the latter will give 88.46. If a strong impulse, we would see 88.30. Continuation would give 88.09.
Today's resistance: - 90.90 and 91.48(main), where a correction may happen. Break would bring 91.82, where also a correction may be. Then 92.26. If a strong impulse, we would see 92.44. Continuation will give 92.70.
DOW JONES INDEX
Today's support: - 10023.65 and 9990.00(main), where a delay and correction may happen. Break of the latter will give 9958.25, where correction also can be. Then follows 9936.70. Be there a strong impulse, we shall see 9922.50. Continuation will bring 9903.30 and 9872.00.
Today's resistance: - 10283.50, 10306.14 and 10328.36(main), where a delay and correction may happen. Break would bring 10361.22, where a correction may happen. Then follows 10383.80, where a delay and correction could also be. Be there a strong impulse, we'd see 10398.00. Continuation would bring 10425.15.

Daily Forex Technicals |   Written by India Forex
Forex Technical Update
The EURUSD is currently trading at 1.2584and in a very short term correction mode. It has already reached 1.26 levels (refer yesterdays view) Exporters and traders should go short euro around there 1.26-1.28 for a target of 1.20- 1.22 and below. We had advised exporters to cover at 1.30 levels for medium term (refer week back update). Bearish-target 1.2000 & below . (EURUSD - 1.2584).
GBPUSD is currently trading at 1.4420 levels . The bias clearly bearish further down but in short term we might see a move till 1.45-1.47 levels . We can cover for exports there. We got some exporters covered few days back at 1.5050 levels (refer previous updates) .We are still bearish on the pair. Target 1.41 & below in medium term. (GBPUSD - 1.4420).Bearish.
USDJPY is currently trading 90.12 levels. We have seen a 89-90 levels due to increased risk aversion. Stay short on the USD/JPY pair . The trend for the pair is bearish. Importers cover yen at 92 levels. (USDJPY 90.12) Neutral.
AUDUSD is currently trading at 0.8290 levels. Exporters got booked few days back at 0.9050 levels. Target of .8000 expected in medium term. Bearish Still. (AUDUSD - 0.8290).
Gold is currently trading at $1180 levels and its bias is clearly on the upside. It had reached our target of 1st Target of 1200 dollars and 2nd target of 1240 levels. Buying on dips remains the strategy. Start averaging gold at every levels till 1174 and hold for 70- 100 dollars move. (Gold- $1180) Bullish.
The Index has also reached our second target of 87.00. Dollar index's rise from 74.19 has accelerated after staying firm above upper channel resistance. The powerful impulsive move is in line with our view that rise from 74.19 is resuming the long term up trend from 70.70. We'd expect a test on 87 high sooner or later (already reached). Strong support comes near 85 levels . Dollar index is clearly bullish above 80 levels. Still room higher .(Dollar Index- 85.57)

Shocking Disconnect Between Market & Fundamentals
Wall Street analysts expect the S&P 500 [.SPX  1071.59    -43.46  (-3.9%)   ] to climb more than 20 percent in the next 12 months, while many traders and technical analysts predict a 20 percent decline is ahead. The shocking 40 percentage point disconnect between the two camps either means fear is spiraling out of control on trading floors or analysts are dangerously out of touch with the realities rapidly unfolding with the global economy.
http://www.cnbc.com/id/37256129


Stocks Dropping Near Bottom of May 6 Crash Signal Worse to Come
(Bloomberg) -- Any investor who wants to gauge how serious the stock market’s retreat is need only know the Standard & Poor’s 500 Index has fallen to within 6 points of its low on May 6, when panic selling prompted calls for reform.
http://www.blogger.com/post-edit.g?blogID=6833542981102286398&postID=3660745820061700082

Short-Term Market Bounce Coming: Chief Strategist
Stocks continued to decline on Thursday after an unexpected jump in jobless claims and ongoing worries over the euro zone. Rob Morgan, chief investment strategist at Fulcrum Securities, and Scott Redler, chief strategist officer at T3live.com, discussed their insights.
http://www.cnbc.com/id/37254284

15% Correction Likely — But I'm Still Bullish: Strategist
Stocks fell sharply on Thursday after an unexpected spike in jobless claims and global jitters pushed the dollar higher. Alec Young, equity strategist at Standard & Poor’s, and Phil Dow, managing director at RBC Wealth Management, shared their market outlooks.
http://www.cnbc.com/id/37253613

Prepare for an EU-Inspired Rally?
Short sellers with heavy bets on the tumult in Europe should be careful, Cramer warned during Thursday’s Stop Trading!. Whether the European Union collapses or not, any resolution at all could be enough to send American stocks higher.
http://www.cnbc.com/id/37254403

Halftime: Beware The Bear
With the S&P [.SPX  1071.59    -43.46  (-3.9%)   ] entering correction territory, and the Dow [.DJIA  10068.01    -376.36  (-3.6%)   ] down sharply on the day, what's the best move for your money now.
http://www.cnbc.com/id/37257730

Friday Look Ahead: More Volatile Swings Ahead
Stocks could see another fierce move down, but some traders and strategists say the worst rout since the 14-month rally began may be closer to its end than beginning.
http://www.cnbc.com/id/37266220

Bill Ending Wall Street’s ‘Joyride’ Goes to House-Senate Talks
(Bloomberg) -- The U.S. Senate approved a sweeping overhaul of Wall Street regulation that would create a consumer protection agency, strengthen oversight of derivative trading and ban proprietary trading at banks.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPGeiMVCv8vA&pos=2

Euro Rises for Third Day Before EU Officials Meet; Aussie Gains
(Bloomberg) -- The euro advanced for a third day against the dollar on speculation European Union officials meeting today will discuss more measures to counter the region’s spreading debt crisis.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aa8gfCRW34zo&pos=5

Malaysia ‘Dead Cross’ Signals Stock Losses: Technical Analysis
(Bloomberg) -- Malaysia’s benchmark stock index has formed a “dead cross” pattern, a bearish indicator that signals further losses for the gauge, according to RHB Research Institute Sdn.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aW2O7xdjIei4

Dollar Rally Bearish Signal for Risk: Technical Analysis
(Bloomberg) -- The dollar’s rally above its 200-day moving averages against the Canadian dollar, Mexican peso and South Korean won signals market volatility is damping risk appetite, according to strategists. 
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWKgeIi1LS9U

Bollinger Break Suggests Notes Overextended: Technical Analysis
(Bloomberg) -- The 10-year Treasury note’s drop today below the resistance level implied by the security’s lower Bollinger band suggested the rally in government securities is “overextended,” according to Jefferies Group Inc.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aj0KwDQOSlRE

Euro May Slide to Six-Year Low on Fibonacci: Technical Analysis
(Bloomberg) -- The euro may fall to a six-year low against the dollar should it close below so-called support at $1.2134, Okasan Securities Co. said, citing trading patterns.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=avIAZ3sXxXd4

Euro Shows ‘Embryonic’ Signs of Rebound: Technical Analysis
(Bloomberg) -- The euro may stabilize against the dollar if it holds above a “major” support level of $1.2135 following this month’s decline, Commerzbank AG said, citing technical indicators.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a7DGOoXPPR80

S&P 500 Slips Below 200-Day Average in Bearish Signal (Update1)
(Bloomberg) -- The decline in U.S. stocks pushed the Standard & Poor’s 500 Index below its average closing price during the previous 200 days, a sign to some analysts that more losses are in store.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqdJnUR_8sRo

Hedge Fund Managers: Drowning in 'Liquidity'
If there were an official buzzword of the Skybridge Alternatives Conference, it might be "liquidity."
http://www.cnbc.com/id/37263537

Stocks to Tumble Another 20%, Cash the Safest Place: Roubini
Stocks are likely to continue their aggressive decline and shed another 20 percent in value as the world economy weakens, economist Nouriel Roubini told CNBC.
http://www.cnbc.com/id/37259541