Currency and Stock Markets
still tinged with concern to the global economic recovery. Speech President ECB (European Central Bank) Trichet who said there is momentum of recovery in Europe has lifted the euro to its highest level of 8 weeks, reaching a resistance level previously predicted. This week, the euro will try to penetrate the nearest resistance at 1.2722, which when invisibility would gradually lead to a level of 1.3. Meanwhile, the support level at 1.2484.
£ currency rally last week suspended its fair enough after nearly six weeks continued to rally strong. For this week, the market will try to find the direction of fundamental data releases. Resistance level is 1.5243 and the next at 1.54, while for his support was still around 1.49. For the USDJPY, the yen still remains a potential safe investment “safe haven”. For this week, the range of weekly support level at 87.00, while its resistance is at 89.74.
For the market in stock index futures, last week was the week rebounded by the release of the improved global economic forecast by the IMF. The market still seems to be sensitive to good or bad news about the global economic recovery, we will see again in this week. The range of Nikkei futures markets this week are the same as the previous week, where the nearest support levels weekly in 9015, and subsequent fall to below 9000, in 8475. First Resistance is 9765, which otherwise would penetrate following moves toward resistance at the psychological level of 10000. Meanwhile, the Hang Seng Index in Hong Kong have also rebounded. For this week, the closest weekly support level at 19,700, then at level 19 355, while the weekly resistance level at 21,000 level.
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[...] Wall Street stock market last week rebounded after weakening earlier noted that the Dow’s longest since the crisis of 2008. Release the global economy from the IMF’s prediction has come to give hope the stock. Rebound stop right at the resistance level previously predicted. This week, the market is expecting the commencement of the release of corporate financial statements for the first half of the stock of 2010. The index will be quite volatile because of it. Dow Jones Industrial support level was in 9612, and weekly resistance level is at around 10,490 level. [...]