Roller Coaster Rides in Markets as Russia Invades Ukraine
Action Insight Weekly Report 3-5-22
Euro, European Stocks and Yields in Free Fall as WW III is Near

Russia invasion of Ukraine continued last week and risk aversion intensified sharply after Russia's attempt to attack Zaporizhzhia nuclear power station. European stocks took a steep dive with benchmark yields. Oil prices surged to levels not seen in more than a decade. Gold was originally steady but staged a late rally, probably as people remembered that it's a safer asset to hold than cryptos in time of world war III.

In the currency markets, Euro was overwhelming the worst performing one, with Sterling a distant second. While safe-haven flows boosted Swiss Franc, Aussie and Kiwi were the ones benefited most by skyrocketing commodity prices. Dollar ended mixed with Yen

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Central Bank Views | China Watch | Oil N' Gold | Special Topics

EUR/CHF Weekly Outlook

EUR/CHF's down trend accelerated to as low as 1.0016 last week, just ahead of parity. Initial bias stays on the downside this week for 100% projection of 1.0936 to 1.0298 from 1.0610 at 0.9972. There might be some support there, and break of 1.0157 minor resistance will turn intraday bias neutral first. But in any case, near term outlook will stay bearish as long as 1.0298 resistance turned support holds. Firm break of 0.9972 will target 161.8% projection at 0.9578.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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