GBP/CHF Unable To Capitalize On Gains. Bears Are Determined To Break 1.4800 Trend News

Technical Outlook and Chart Setups:

As depicted here, prices have managed to hold the 1.4800 level for the time being. But the follow through required for the expected rally to materialize is still missing. Price action since last 24 hours has been range bound, and the technicals are indicating exhaustion on the higher side. Resistance on the daily chart actually begins from the 1.5050 level and runs through 1.5150; while support is at 1.4800 initially and a break there will expose 1.4700 and 1.4600 respectively. It is recommended to quit long positions taken yesterday and look to short again.

Trading Recommendations:

1. Exit long positions taken yesterday.

2. Aggressive trading strategy would be to go short again at the current price (1.4850). Stop is at 1.5060, Target Is open.

3. More conservative/safe strategy would be to go short on a breakdown of 1.4800 keeping targets open.

Good Luck !

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EUR/USD Sell Bellow 1.3306 - For December 20, 2012 (Daily Strategy) Trend News

Yesterday the euro was backward on the level of 1.3308, psychological level of much resistance in the past. The fact that it has bounced today after falling over 100 pips can be an opportunity to sell the pair. So if in the American session, the euro rebounds to the level below 1.3308, you can take this level as a selling opportunity. You have to be very cautious as market movements can have unforeseen. Operate at low risk, take care of your capital. The trend indicator is showing a bearish sequence.

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

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GBP/USD Sell Bellow 1.63 (Fractal) - For December 20, 2012 (Daily Strategy) Trend News

The British pound managed to reach the maximum of 1.6306. This year the pair has tried three times to overcome this level. Yesterday the third attempt was observed, but it failed. Analyzing this level of resistance, the pound is likely to have a reverse to 1.6135 fractal level, so a break below 1.62 level, will increase the probability of the fall to 1.6135.

At that level we can again buy with objectives to 1.63. So in the long term we remain bullish, but at current levels we expect a correction to the level of support. We have been bullish above the 200 day moving average periods around the 1.5850 level. Trend indicators are showing an imminent correction.

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

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Fundamental Analysis For December 20, 2012 Trend News

The major currencies which are trading against the dollar suffered a serious setback on Wednesday due to various reasons.

The U.S. currency managed to recover especially against the euro, which fell from 1.3305, the value reached in the European session yesterday. It is encouraged by a good German IFO report. However, the single currency failed to hold (and appeared very overbought anyway), and fell over 120 points, breaking a trendline technically bullish short-term, that could lead to a sharper decline in the EUR/USD pair during the next few hours.

Meanwhile, as the imminence of retail inflation is very low, the pound also backs against the dollar right now, although more attenuated than the euro.

The yen gained strength, going against European currencies; the Bank of Japan announced its inflation target at 1%, one percentage point below the aspirations of the new Japanese Prime Minister, S. Abe.

Also the Wall Street stocks fell on Wednesday, on a day which obviously took gain market rallies in recent days. We believe this correction, can be extended to the general session on Thursday.

The data to follow during the American session is Weekly unemployment claims, at 8:30 Eastern, with the end of the third quarter GDP. At 10:00, meanwhile, will be released existing home sales index and the Philadelphia Fed.

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Silver Remains Constructive For Bulls. Buy On Dips Trend News

Technical Outlook and Chart Setups:

Believe it or not, these intraday dips are opportunities to build long positions. Intermediary support remains at 30.60/70, followed by 30.20, while resistance is fixed at 33.60/70, followed by 34.30/40 and 35.10 respectively. It is recommended to hold long positions taken yesterday and look to add further longs on dips. It remains possible that another low might form around the 30.20/50 region before the next bull run begins. Trend moves upwards.

Trading Recommendations:

Hold on to long positions taken from yesterday, build further longs on intraday dips, stop is below 30.00. Target is open.

Good Luck!

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Gold Channel Support At 1,640/50 Region. Defined As Best Buy Trend News

Technical Outlook and Chart Setups:

The yellow metal seems to have carved out a low at around 1,660.00 region or looking to drop towards the 1,645.00 region before setting up for further rally. Either way, it is recommended to buy on dips. Intermediary support is around the 1,645.00 mark followed by 1,600.00 region. As it can be noticed, the 0.618 support of rally between 1,580 and 1,795, past resistance turned support (1,630/40), Trendline/Channel support are all converging around 1,640/50 region. It would be the best buying opportunity if prices manage to reach there. Looking to buy on dips further.

Trading Recommendations:

Hold on to long positions taken yesterday, buy further on dips towards 1,640/50, stop is at 1,620/25. Target is open.

Good Luck!

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EurJpy Pullback/Retracement Expected Now Trend News

Technical Outlook and Chart Setups:

As it has been lately discussed, and depicted here, the 111.00 region of resistance has been taken out convincingly by the bulls and also registered fresh highs above that. The chart structure now suggests, a move lower should materialize any time soon. The prices are expected to reach at least 108.00 levels before a meaningful rally resumes. Furthermore, this is re-enforced by the past resistance turned support region as well. Next Fibonacci resistance comes at 118.00 level, while support begins from 106.00 and followed by 105.20 levels. It is recommended to go short during intraday rallies towards 111.50 region, to take advantage of the short-term bearish setup.

Trading Recommendations:

Short between 111.50 and 111.30. Stop is at 112.80. Target is at 108.00.

Good Luck!

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GbpChf Tests 1.4800. Booking Profits On Shorts Recommended Trend News

Technical Outlook and Chart /setups:

As depicted here, prices touched 1.4800 support and pulled back yesterday, leaving a doji candlestick pattern yesterday. This might suggest a change in the direction at least for short time. Therefore, it is recommended to book profits on short positions taken earlier at current levels (1.4847). Intermediary support stands unchanged at 1.4800 for now, followed by 1.4700, and 1.4600 respectively. Resistance would begin from the dropping wedge line at 1.5050/60, 1.5150/60 and ahead. Short-term aggressive traders can be looking to buy at current levels.

Trading Recommendations:

1. Book profits on short positions taken earlier.

2. Aggressive traders can enter buying now, stop is at 1.4775. Target is open.

Good Luck!

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