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Nymex Crude Oil (CL) Crude oil edged higher to 83.16 last week but upside was again limited by loss of momentum. Nevertheless, there is no confirmation of topping yet with 80.16 minor support intact and current rally from 69.50 could still continue to retest 83.95 high. On the downside, however, note that break of 80.16 will indicate that a short term top is already in place and deeper fall should then be seen to 38.2% retracement of 69.50 to 83.16 at 77.94 next. In the bigger picture, crude

SUMMARY The week provided a long period of consolidation that finally saw the Dollar break supports on Friday to extend losses. The outlook remains bearish in the short term and probably for a week or two at least. However, this is viewed more as a correction within the underlying uptrend and therefore the decline is expected to remain quite erratic and choppy. Care is therefore advised over this duration. Please see the attached PDF file for details of the entire 9 currency pairs. Good

U.S. equity markets finished down on Friday and barely avoided a closing price reversal top which would have signaled the start of a possible retracement to the downside. The March E-mini S&P 500 and NASDAQ made new highs for the year while all three indices closed higher for the week. Friday saw the indices spike higher then break lower following a better than expected U.S. Retail Sales Report. As long as interest rates remain low, there is no other game in down. If the Dollar weakens

The Euro closed the week higher and in a position to continue the rally as financial tensions have eased enough in Greece to warrant the beginning of a short-covering rally.  Technically, the main trend is up on the daily chart with 1.4009 a possible near-term target. Although most of the strength in the Euro this week was attributed to the easing of the financial crisis in Greece, there are rumors out there of a possible $50 billion bailout by France and Germany. If this bodes to be

The Australian Dollar is trading within a wedge formation vs the US Dollar, British Pound, Japanese Yen and the euro. Price-action is also diverging against 4-hourly MACD, which hints of a possible reversal. Below .9140 (AUD/USD) will confirm that a larger correction is in store. Meanwhile, a daily close above .9170 (AUD/USD) suggests further strength and could trigger a possible retest of .9334 (January highs).

USD : Lower, Yellen appointed to the Fed, retail sales post unexpected rise, consumer sentiment dips JPY : Lower, BOJ may double QE, threat of intervention EUR : Higher, Greek debt fears fade, talk of German/French Greek rescue package, industrial output surged GBP : Higher, house prices jump, Conservatives expand lead in the polls CAD and AUD : AUD mixed & CAD higher, Canada's employment growth beats expectations Overview The USD traded at a three week low Friday pressured by announcement

Overview Improbably tiny ranges for many instruments this week, especially stock indices where for example the Dow Jones Industrial Average held within just 130 points. This effect was seen across the board and while there is nothing about this in textbooks candle theory hints that this is probably due to low volume and is symptomatic of a market that has lost its way and/or is gathering energy for the next move. Again a handful of indices posted new highs for this year, FTSE100, Helsinki,