Monday, December 24, 2012

$EURUSD Technical Outlook

EURUSD DAILY CHART - Medium-term outlook remain bullish above 1.2660. First target is 61.8% of 1.2040 to 1.3170 from 1.2660 at 1.3370.

EURUSD HOURLY CHART - Weekly outlook suggest short-term reversal below 1.3300 (last at 1.3186) targeting 50% retracement level at 1.3091. 

Friday, December 21, 2012

$XAUUSD Testing 61.8% Retracement Level

XAUUSD DAILY CHART - Gold found some support near 61.8% retracement level at 1642, which could be the bottom of a possible ABC correction pattern. I am looking to buy the pair targeting 1671 and 1700 with stop loss below this month low.

Wednesday, December 12, 2012

Monday, December 10, 2012

$AUDUSD Outlook

$AUDUSD DAILY CHART - Testing 1.0500 resistance at the moment with next resistance seen around 1.0600.
$AUDUSD 4 HOUR CHART - Last week price movement signals trend continuation, so outlook is bullish as long 1.0400 support holds.

Monday, December 03, 2012

$GBPUSD Outlook

Cable was moving sideways between 1.5960 and 1.6060  last week. The pair maintained its two week uptrend pattern but it needs to break above 1.6070 to confirm trend continuation. Break below 1.5900 should bring 1.5787 and 1.5665 in focus.

GBPUSD DAILY CHART - Waiting for a breakout.

GBPUSD 4-HOUR CHART - Targeting 1.6170  if 1.6050/70 resistance broken

$USDJPY Outlook

Still very bullish for $USDJPY. I am gonna look to buy the pair, betting that it will reach 83.00 in short term, as long it holds above 81.69.

USDJPY HOURLY CHART - Possible uptrend continuation.

USDJPY DAILY CHART - Just to be prepared if the pair break above 83.00.

Saturday, December 01, 2012

$XAUUSD Outlook

$XAUUSD fell sharply this week from 61.8% level of October downtrend around $1,748 but quickly found support around $1,705. I think it is the key level to keep the  short-term bull scenario alive. Upside targets are $1,768 (78.6% of $1,795.1 to $1,671.9) if it can hold above $1,748 (61.8%). A slip below $1,700 should trigger sell-offs targeting $1,670. 

$XAUUSD 4-Hour Chart - Short-term bullish scenario.
$XAUUSD Daily Chart - Bearish scenario if price move below $1,700.