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Thread: Daily Market Outlook

  1. #1
    jebat66 is offline Senior Member
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    Default Daily Market Outlook

    EUR/USD intraday: the upside prevails.


    Pivot: 1.2560.
    Our Preference: LONG positions above 1.256 with targets @ 1.263 & 1.267.
    Alternative scenario: The downside penetration of 1.256 will call for a slide towards 1.252 & 1.249.
    Comment: the pair is rebounding on its new support.




  2. #2
    jebat66 is offline Senior Member
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    GBP/USD intraday: the upside prevails.


    Pivot: 1.5820.
    Our Preference: LONG positions above 1.582 with targets @ 1.589 & 1.5915.
    Alternative scenario: The downside penetration of 1.582 will call for a slide towards 1.5795 & 1.577.
    Comment: the pair remains on the upside and is approaching its previous high.


  3. #3
    jebat66 is offline Senior Member
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    USD/CHF intraday: under pressure.


    Pivot: 0.96.
    Our Preference: SHORT positions below 0.959 with targets @ 0.95 & 0.9475.
    Alternative scenario: The upside penetration of 0.959 will call for a rebound towards 0.9615 & 0.963.
    Comment: the pair stands below its resistance and remains under pressure.


  4. #4
    jebat66 is offline Senior Member
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    USD/JPY intraday: under pressure.


    Pivot: 78.50.
    Our Preference: SHORT positions below 78.5 with 78.1 & 78 in sight.
    Alternative scenario: The upside breakout of 78.5 will open the way to 78.65 & 78.85.
    Comment: the pair stands below its resistance and remains under pressure.


  5. #5
    jebat66 is offline Senior Member
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    AUD/USD intraday: under pressure.


    Pivot: 1.0345
    Our preference: Short positions below 1.0345 with targets @ 1.0235 & 1.02 in extension.
    Alternative scenario: Above 1.0345 look for further upside with 1.037 & 1.04 as targets.
    Comment: the pair has broken below its support and remains on the downside.


  6. #6
    jebat66 is offline Senior Member
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    GOLD (Spot) intraday: the bias remains bullish.


    Pivot: 1670.00
    Our Preference: LONG positions above 1670 with 1696 & 1707 in sight.
    Alternative scenario: The downside penetration of 1670 will call for a slide towards 1663 & 1652.
    Comment: the immediate trend remains up and the momentum is strong.


  7. #7
    jebat66 is offline Senior Member
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    SILVER (Spot) intraday: further upside.


    Pivot: 30.95
    Our Preference: LONG positions above 30.95 with 32 & 32.45 in sight.
    Alternative scenario: The downside penetration of 30.95 will call for a slide towards 30.55 & 30.15.
    Comment: the RSI lacks downward momentum.


  8. #8
    jebat66 is offline Senior Member
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    Crude Oil (Oct 12) intraday: further advance.


    Pivot: 95.40
    Our Preference: LONG positions above 95.4 with 96.95 & 97.6 in sight.
    Alternative scenario: The downside penetration of 95.4 will call for 94.85 & 94.
    Comment: the RSI has just landed on its neutrality area at 50% and is turning up.


  9. #9
    jebat66 is offline Senior Member
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    USD/CAD Intraday Technical Analysis and Trading Recommendations for September 3, 2012 2012-09-03 0/5




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    The USD/CAD pair was trading in oversold position within a wide range bearish channel which is depicted on the chart in red when the pair broke through the upper limit of the short term bearish channel presented on the chart in Blue indicating a possible bullish retracement towards price level of 0.9970 with two successful retestings of the backside of the broken channel at 0.9888 then at 0.9845.
    Breakout above the bearish Blue channel gave the opportunity for the USD/CAD pair to visit the upper limit of the longer term channel around the price level of 1.0025. However, the pair found resistance around price level of 0.9945. Since then the USD/CAD pair has been trapped within the consolidation range between 0.9845 - 0.9945.
    The price level of 0.9845 which corresponds to the lower limit of the consolidation range is being tested today where bullish price action should be watched for a valid BUY entry with SL located below 0.9800 with taking into consideration that price level 0.9945 became a stronger resistance level now corresponding to the upper limit of the long-term bearish channel as well.
    For the long term aspect, the price level of 1.0025 corresponds to Fibonacci levels of 50% and 78.6% of the most recent two bearish swings. That's why price action should be watched there for a valid long term SELL entry with SL located above 1.0080.

    Mohamed Samy 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. #10
    jebat66 is offline Senior Member
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    EUR/USD Intraday Technical Analysis and Trading Recommendations for September 3, 2012 2012-09-03 0/5




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    The EUR/USD pair is demonstrating a strong bullish movement which was maintained within the depicted bullish channel. However, during the last week the market witnessed some bearish retracement in reaction to the upper limit of its movement channel around the price level of 1.2580.
    Last week the EUR/USD pair managed to breakdown the short term uptrend line depicted on the chart after finding resistance around the price level of 1.2570. However, the pair came back to retest the backside of the broken trendline as depicted on the chart.
    The most significant Resistance level is located around 1.2580. This price level was tested last week expressing a bearish engulfing 4H candlestick which pushed the EUR/USD pair to the downside.That's why a low risk SELL entry is suggested at retesting which is taking place now with a tight SL located above 1.2630.
    The lower limit of the movement channel as well as SMA 100 are located between 1.2430-1.2400 where price action should be watched for a valid low risk BUY entry with SL located below 1.2370.

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

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