Tuesday, February 22, 2011

Update Daily Investment News 22-02

IEA Chief: $100 Oil 'Very, Very Bad' for Economy

'Profit from Panic': How to Stay Safe Amid Global Unrest

Technician Sees Stocks Taking a Breather — Not Correction

$100 Oil? Here's What To Do In The Currency Markets

Buy Oil, Not US Stocks: Marc Faber

Halftime: Is Sell-Off a One Day Event?

Art Cashin: The Real Middle East Danger Now

Written by FXtechtrade

Today's support: - 1.3584(main), where correction is possible. Break would give 1.3567, where correction also may be. Then follows 1.3542. Break of the latter would result in 1.3518. If a strong impulse, we would see 1.3489. Continuation will give 1.3450. Today's resistance: - 1.3686, 1.3728 and 1.3749(main). Break would give 1.3770, where a correction is possible. Then goes 1.3795. Break of the latter would result in 1.3818. If a strong impulse, we'd see 1.3841. Continuation will give 1.3866.
Today's support: - 82.57(main). Break would bring 82.32, where correction is possible. Then 82.03, where a correction may also happen. Break of the latter will give 81.88. If a strong impulse, we would see 81.65. Continuation would give 81.43 and 81.22.
Today's resistance: - 83.54, 83.70 and 83.94(main), where a correction may happen. Break would bring 84.13, where also a correction may be. Then 84.34. If a strong impulse, we would see 84.48. Continuation will give 84.60.
Today's support: - 12301.88 and 12274.63(main), where a delay and correction may happen. Break of the latter will give 12253.90, where correction also can be. Then follows 12216.36 Be there a strong impulse, we shall see 12195.07. Continuation will bring 12158.30. Today's resistance: - 12403.13 and 12424.19(main), where a delay and correction may happen. Break would bring 12451.70, where a correction may happen. Then follows 12473.28, where a delay and correction could also be. Be there a strong impulse, we'd see 12498.80. Continuation would bring 12528.47.

Written by India Forex

EUR/USD: The Eurusd slipped towards 1.3580 levels despite German IFO improved to record highs in February to 111.2 vs. 110.3 previously. Looking ahead today, GfK German Consumer Climate is likely to improve. Immediate resistance comes at 1.3640 while immediate support is seen at 1.3528 levels. Short term: Slight bullish and Medium term: Bearish.
GBP/USD: The Pound also went down due to the dollar's strength and it is currently trading at 1.6155 levels. Daily stochastic showing downside movement . Immediate support is at 1.6065(Daily 21 Middle Bollinger) while resistance comes at 1.6280 (21 upper Bollinger in daily chart). Neutral and Medium term: Bearish.
Gold: The yellow metal spiked above $ 1400 levels for consecutive seventh session after making a high at $ 1411.15, following the increasing political up rise in the Middle East. There has been a robust physical demand seen in the yellow metal as a safe heaven. Immediate support for gold is near $1400 levels followed by $ 1391 while immediate resistance is at $ 1411.15(21/02/2011) levels. Medium term: Maintain bullishness.
Dollar Index: The US dollar index is slightly higher on safe haven buying, currently trading at 78.41 levels up by 0.54%. Market will be focused on CB Consumer Confidence which is going to improve along with Richmond Manufacturing Index which is expected stable. Immediate support comes at 78.02 levels (8 hourly 55 EMA) followed by 77.86 (8 hourly 21 EMA) while resistance at 78.32 levels (8 Hourly 21 Upper Bollinger). Medium Term: Slight Bullish.

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