EUR/USD Sell Now, Sell Bellow 1.3112 - For December 06, 2012 (Daily Strategy) Trend News

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.

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

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GBP/USD Sell now, Bellow Fractal 1.6135 - For December 06, 2012 (Daily Strategy) Trend News

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.

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

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Fundamental Analysis For December 06, 2012 Trend News

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.

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Silver Remains Under Pressure. But 32.00 Level Hold Trend News

Technical Outlook and Chart Setups:

Prices have remained under pressure overnight printing fresh lows at 32.50 level before pulling back. As depicted here, there is a possibility that wave 4 may extend further towards 30.00 levels but 32.00 remains key as discussed earlier. A break below 32.00, will confirm further downside possibility towards 30.00 level before reversing. On the other hand, a bullish reversal from current levels would confirm that a low is in place and the prices will head higher. It is recommended to book profits on shorts for now and wait for bullish reversal signals. Please note that till the time the prices stay above 32.00 silver remains bullish.

Trading Recommendations:

Book profits on short positions for now. Look for opportunities to buy ahead of 32.00 level.

Good Luck!

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Gold Is Holding The 0.786 Fibonacci Support At The Moment. Partial Buying Is Recommended Trend News

Technical Outlook and Chart Setups:

Prices have remained under pressure overnight, printing fresh lows at 1,685.00 level before pulling back. Structurally it is still possible that the prices reach around 1,640/45 levels before reversing; but at the moment the 0.786 Fibonacci support is holding for the rally in the range 1,672.00 to 1,754.00. A clear break below 1,685.00 level would push it lower than 1,672.00 towards 1,645.00. On the flip side, a bullish bounce from current levels would confirm that a higher low is in place. It is recommended to plan partial buying at current levels for aggressive trade setup and the remaining towards 1,650.00 level if reached. There is no doubt that 1,640/45 levels will be excellent buying opportunity.

Trading Recommendations:

1. Buy partial, at current levels leaving space for further buying around 1,640/45 levels. Aggressive trade setup.

2. Buy around 1,640/45 levels. Conservative setups.

Good Luck !

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EurJpy Bulls In Control Now. Buying Dips Recommended Trend News

Technical Outlook and Chart Setups:

Prices are just shy of clearing the stops at 108.00 and the bulls are determined to take prices higher further. As depicted here support is at 105.00/10, 104.50, and followed by 100.50 level. The structure is setting up for an extended rally above the 111.00 mark. It is recommended to buy intraday dips from here on, towards 107.00 level. Resistance is not before the 111.00 mark now. Intraday dips towards 107.00/25 are opportunities to go long now. Look higher after a pullback.

Trading Recommendations:

Flat for now. Plan to buy intraday dips towards 107.00/25, stop 105.00. Target is open.

Good Luck!

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