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Thread: Daily Market Outlook

  1. #1011
    jebat66 is offline Senior Member
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    EUR/JPY intraday: bullish bias above 107.15.

    Pivot: 107.15 Our preference: Long positions above 107.15 with targets @ 107.95 & 108.3 in extension. Alternative scenario: Below 107.15 look for further downside with 106.8 & 106.4 as targets. Comment: the RSI lacks downward momentum.

  2. #1012
    jebat66 is offline Senior Member
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    EUR/USD Sell Now, Sell Bellow 1.3112 - For December 06, 2012 (Daily Strategy) 2012-12-06 4/5


    The euro is hesitating regarding its upward trend. According to technical analysis, we notice a fall of the pair, at least in the next few hours until 1.30. The break of this level will lead you to the weekly pivot of 1.2964. The market is waiting for Draghi's speech; you have to be very careful. We recommend selling this pair if there is a pullback to the resistance level 1.3112 weekly. On the other hand, you can sell at current price levels of 1.3066 to low leverage. The break of 1.3049 will open the way to the 1.30 and 1.2964.
    As we mentioned, the euro is in a consolidation channel from 1.3150 to 1.27. Therefore, below 1.3150 you can sell with much optimism. Technical indicators are showing overbought. It is imminent that the euro continues to fall.



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    If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

    Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

  3. #1013
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    USD/CHF: Intraday Technical Analysis for December 6, 2012 2012-12-06 0/5


    Forecast:
    Strong level (Resistance) will be formed at 0.9330 providing a clear signal for sell deals with the target seen at 0.9270 level. Stop loss is to be placed above 0.9375.
    Strong level (Support) will be formed at 0.9240 providing a clear signal for buy deals with the target seen at 0.9325 level. Stop loss is to be placed below 0.9203.

    Range: 95 pips (Weekly).


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    Overview:
    USD/CHF: It is necessary to consider that the price is still located between points of 0.9297 and 0.94250, i.e. above the strong resistance level of 0.9330. The pair has already formed a strong resistance at this level of 0.9330 and is presently approaching to the further testing. Therefore, the Swissie is expected to go downwards following the structure which does not look corrective and it is indicating the bearish opportunity below 0.9330 level. Sell deals are recommended below 0.9330 with the first target seen at 0.9295 level. Thus, the downtrend is likely to continue the bearish movement towards 0.9255 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9240. The saturation is likely to take place around 0.9236 (0.9236: the weekly support 1). Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9240 with the first target seen at 0.9290 level and if the weekly pivot point (0.9288) is broken successfully, then the pair will go further at 0.9330 level (R1: 0.9331). It should be noted that the resistance becomes a support after it is broken.

    Weekly Pivot Points:
    R3: 0.9426
    R2: 0.9383
    R1: 0.9331
    PP: 0.9288
    S1: 0.9236
    S2: 0.9193
    S3: 0.9141
    If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

    Mourad El Keddani is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

  4. #1014
    jebat66 is offline Senior Member
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    GBP/USD Sell now, Bellow Fractal 1.6135 - For December 06, 2012 (Daily Strategy) 2012-12-06 5/5


    The Pound sterling remains below fractal, at 1.6135, as we were pointing out for several days ago. This fractal is very strong, so you should sell below this level, and all upward bounce should consider an opportunity to sell this pair. The pound is currently trading at 1.6103, this pair has proved stronger than the euro, but it is a little exhausted. There is probably of a correction downward to the level of 1.60.
    At a fundamental level the Bank of England, left unchanged the benchmark interest rate at 0.5%, a record low for the company since its inception, and extending from March 2009. At the same time it remained unchanged its bond purchase plan.
    It is likely that next year the pair continues its upward trend. Reading this column you could notice that our outlook remains bullish from 1.5850 above the 200 EMA periods. In the short term we will see a correction, so we do not recommend buying. We will buy again if the pair is trading at 1.60/59 with objectives in the medium term until 1.65 and 1.70.



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    If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

    Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

  5. #1015
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    Silver Technical Levels and Trading Recommendations for December 6, 2012 2012-12-06 0/5



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    Overview




    The H4 chart demonstrates today that silver continues its bearish trend and manages to break the Support level 32.75. Currently it is testing the Support level 32.50. If silver continues its bearish move and manages to break the Support level 32.50, it will provide a good opportunity to sell below the Support level till enabling the Support level of 32.00 as a level target. After that we should wait for breaking out of this Support level to continue the bearish move. In case silver is able to break the Support level of 32.00 and closes 4H below, we will get a bearish strength which will provide new sell signals and enable the Support level of 31.50 as a level target.
    On the other hand, if silver reverses its bearish move and takes an upward direction after its rebound from the Support level of 32.50, it will be a strong indicator for the bullish move after closing 4H above the Support level enabling the Resistance level of 33.75 again. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level of 32.50 is unbroken, the upward move is still expected and invalidating the downward movement. Therefore, we should wait for more confirmations before making a decision.






    Resistance and Support levels

    R3 (33.65) R2 (33.25) R1 (32.75) S1 (32.50) S2 (32.00) S3 (31.50)




    Trading Recommendations


    According to the previous analysis, we recommend selling in case of closing 4H below the Support level of 32.50 with TP 32.10; SL closing 4H below the Resistance level might be appropriate

  6. #1016
    jebat66 is offline Senior Member
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    GBP/JPY Technical Levels and Trading Recommendations for December 6, 2012 2012-12-06 5/5



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    Overview



    Proceeding from today's 4H chart, the pair manages to break the Resistance level 132.20 and closes 4H above. Currently it is testing the Resistance level 132.85. Given that the pair manages to break it and continues its upward move and manages to break the Resistance level 133.10, we will get a good opportunity to buy enabling the Resistance level of 132.85 as the level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 133.60.
    On the other hand, if the pair fails to break the Resistance level of 132.85 and bounces from it, it may reverse the bullish move taking a downward move which will enable the Support level of 132.20. Then we should wait for breaking this Support level in order to get new bearish signals. In case the pair is able to break the Support level and closes 4H below, we will get a bearish strength providing new sell signals which will enable the Support level of 131.50 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level of 132.85 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making the decision.



    Resistance and Support Levels

    R3 (133.60) R2 (133.10) R1 (132.85) S1 (132.20) S2 (131.50) S3 (130.75)



    Trading Recommendations

    According to the previous analysis, we recommend buying after breaking the Resistance level of 132.85 and closing 4H above with TP 133.25; SL closing 4 hours below the Resistance level will be appropriate.

  7. #1017
    jebat66 is offline Senior Member
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    Fundamental Analysis For December 06, 2012 2012-12-06 5/5


    The Bank of England left its bond-buying program on hold. BOE kept its quantitative-easing target at 375 billion pounds, as it was predicted. It also left key interest rate at a record low of 0.5%.
    The European Central Bank kept interest rates on hold after its pledge to buy government bonds lowered borrowing costs and boosted confidence that the euro can emerge from recession next year. The benchmark rate was left at a record low of 0.75%.
    Technically, the euro and the British pound, the Swiss franc and the Australian dollar have short-term bullish trend. In some cases it is more accentuated, the British pound and the Aussie, in particular. To operate with the euro, which they say is easy to operate, it is recommended to wait for Draghi finished his presentation.

    Gerardo Porras is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

    Performed by Gerardo Porras, Analytical expert
    InstaForex Companies Group 2007-2012

  8. #1018
    jebat66 is offline Senior Member
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    Daily Trading Forecasts (December 6, 2012) 2012-12-06 5/5


    EURUSD: The bullish bias on the EURUSD pair is still intact. The price is currently consolidating to the downside, but it might not go below the support line at 1.3050. When the buying pressure resumes, it will touch the resistance line at 1.3100.



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    USDCHF: The price has found it difficult to break the support level at 0.9250 to the downside, there was no bullish thrust that could even take the price towards the resistance level at 0.9300 either. The price has been moving sideways since the beginning of this week and there will be a break above or below any of the aforementioned levels before any sustained movement can occur. However, the bearish outlook remains.



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    GBPUSD: There is still some northward pressure on this market, which means that the upward bias is still intact. The Williams’ % Range is still moving around the overbought territory perpetually. The price has broken the distribution zone at 1.6100 to the upside. The next target could be the zone at 1.6150.



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    USDJPY: The bearish signal that was indicated on the chart below has proven to be invalid as the RSI 14 period moves above the level 50, and the price itself reverts back above the EMA 56. This occurred because of the protracted weakness in the yen, not because the greenback is particularly strong. The next target in the upper region could be 82.50 that would be breached eventually to the upside.



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    EURJPY: It continues to be a bull market. All the indicators on the chart back this assumption. The Williams’ % Range is showing continuous abundance of energy on the part of buyers. The price is going upwards steadily, and it could reach the supply zone at 108.00.



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    Performed by Azeez Mustapha, Analytical expert
    InstaForex Companies Group 2007-2012

  9. #1019
    jebat66 is offline Senior Member
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    GBP/USD: Intraday Technical Analysis for December 6, 2012 2012-12-06 0/5


    Weekly Pivot Point: 1.6010.


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    GBP/USD "Pound Dollar":
    Resistance: 1.6125 (sell below this level).
    Support: 1.6060 (buy above this level for retesting this level for a short period).
    Trading Recommendations:
    According to the previous events, the price is still between the levels of 1.6123 and 1.6040.
    The descending movement will probably be lower than 1.6125 level with the first targets at 1.6085 and 1.6060 levels.
    Buy deals are recommended above the 1.6060 level with targets at 1.6090 and 1.6125 levels.
    Overview:
    It should be noticed that the market showed the signs of instability. The trend movement was controversial as it took place in the narrow sideways channel. Due to the previous events, the price is still between the levels of 1.6123 and 1.6040, so it is recommended to be careful while making deals in this area. Therefore, it is necessary to wait till the sideways channel is passed through. Then the market will probably show the signs of a bullish trend. In other words, buy deals are recommended above 1.6060 level with their first target at the level of 1.6085. From this point, the pair is likely to begin an ascending movement to the point of 1.6105 and further to the level of 1.6125 (it will act as a strong resistance for this week). However, if the pair fails to pass through the level of 1.6125, the market will indicate a bearish opportunity below the strong resistance level of 1.6125. In this regard, sell deals are recommended lower than the 1.6125 level with the first target at 1.6085. It is possible that the pair will turn downwards continuing the development of the bearish trend to the level 1.6060 then 1.5960 (the weekly support 1). It should be noted that the weekly resistance 3 is at the level of 1.6162 if you have sold below 1.6125, then you have to place a stop loss at 1.62.

    Weekly Pivot Points:
    R3: 1.6162
    R2: 1.6111
    R1: 1.6061
    PP: 1.6010
    S1: 1.5960
    S2: 1.5909
    S3: 1.5859
    If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.

    Mourad El Keddani is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

  10. #1020
    jebat66 is offline Senior Member
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    EUR/USD intraday: the downside prevails.

    Pivot: 1.297 Our preference: Short positions below 1.297 with targets @ 1.288 & 1.2835 in extension. Alternative scenario: Above 1.297 look for further upside with 1.3 & 1.3035 as targets.

    Comment: the RSI is capped by a bearish trend line.

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