Intraday Market Forecast 03 Jan 2014

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EURUSD: (Under Pressure )

Recommendations: SHORT positions below 1.3745 with 1.3650 & 1.3600 as next targets.
Alternative scenario:The upside breakout of 1.3745 will open 1.3800/1.3830 levels.
Description: Stability below the key resistance 1.3745 will keep the bearish momentum intact and look for 1.3650/1.3600 levels, above 1.3745 would target 1.3800/1.3830 next , stability below 1.3600 levels would accelerate the bearish move towards 1.3550 levels.

XAUUSD: (Cautious Rebound)

Recommendations: LONG positions above 1229 with 1240 & 1248 as next targets.
Alternative scenario:The downside breakout of 1229 will open 1220/1214 levels.
Description: Stability above the key support 1229 will keep the bullish momentum intact and look for 1240 ahead of 1248 levels, losing 1229 might delay the bullish move for retreating 1220 ahead of 1214 levels.

Crude Oil: (Bearish Bias )

Recommendations: SHORT positions below 97.45 with 94.50 & 94.00 as next targets.
Alternative scenario:The upside breakout of 97.45 will open 98.00/99.00 levels.
Description: Stability below the key resistance 97.45 will keep the pair under pressure with risk towards 94.50/94.00 levels, break of 97.45 will bring rebound and open 98.00/99.00 levels next.

 

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