Intraday Market Forecast 06 Jan 2014

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Intraday Market Forecast will be focusing on EURUSD , XAUUSD & Crude Oil today :

EURUSD: (Under Pressure )

Recommendations: SHORT positions below 1.3640 with 1.3560 & 1.3530 as next targets.
Alternative scenario:The upside breakout of 1.3640 will open 1.3670/1.3710 levels.
Description: Stability below the key resistance 1.3640 will keep the bearish momentum intact and look for 1.3560/1.3530 levels, above 1.3640 would delay the bearish move and open 1.3670/1.3710 levels

XAUUSD: ( Rebound)

Recommendations: LONG positions above 1227 with 1245 & 1255 as next targets.
Alternative scenario:The downside breakout of 1227 will open 1218/1210 levels.
Description: Stability above the key support 1227 will keep the bullish momentum intact and look for 1245 ahead of 1255 levels, losing 1227 would delay the bullish move for retreating 1218 ahead of 1210 levels.

Crude Oil: (Bearish Bias )

Recommendations: SHORT positions below 95.15 with 93.70 & 93.15 as next targets.
Alternative scenario:The upside breakout of 95.15 will open 95.55/96.00 levels.
Description: Stability below the key resistance 95.15 will keep the pair under pressure with risk towards 93.70/93.15 levels, break of 95.15 will bring rebound and open 95.55/96.00 levels next.

 

MARKET DATA

UPCOMING ECONOMIC EVENTS