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EUR/USD Consolidates Below 1.23

EUR/USD Consolidates Below 1.23

Dec 19, 2014

EUR/USD pair continued to trade under the bearish pressure, as they pushed the cross below 1.23. At the moment the only support before the 2014 low is represented by a Bollinger band at 1.2255, which is not supposed to create major problems for pair's bears. Even though daily technical...

GBP/USD Bounces Towards Weekly PP

GBP/USD Bounces Towards Weekly PP

Dec 19, 2014

Since the last time of writing the pair has managed to reverse the sharp drop that took place late on Wednesday and currently it is hovering around the weekly PP at 1.5672. In case the pair wants to prolong its appreciation then it will have to surpass the monthly...

USD/JPY Continues To Challenge 119.38

USD/JPY Continues To Challenge 119.38

Dec 19, 2014

The USD/JPY cross has not changed much since yesterday, as it continues to challenge the weekly PP at 119.38. Most likely the pair will have the strength to test the major level at 120; however if not, then there is a risk of the pair falling towards the weekly...

Gold Little Changed Around Monthly R1

Gold Little Changed Around Monthly R1

Dec 19, 2014

On Thursday, Gold increased in price and was able to jump above the monthly R1, reaching the daily high around $1,214. At the same time, the price managed to stabilize and returned back just above the weekly S1 towards the end of the trading session. Taking into account mixed...

The Daily Wave Analysis

The Daily Wave Analysis

Dec 19, 2014

The EURUSD's strong fall yesterday could indicate the reemergence of the downtrend but at the moment the most likely wave count is still a wave X (blue) as an expansion of the bigger wave 4 (green) correction.

Today’s Market Outlook

Today’s Market Outlook

Dec 19, 2014

The Euro continues to move lower and establishes below 1.23 handle, following yesterday’s repeated close in red and below 1.2300. Month’s low at 1.2244 is in near-term focus, with break here to clear way for extension towards short-term target at 1.2042, low of July 2012. Larger picture’s bears are...