Intraday Market Forecast 07 Jan 2014


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

EURUSD: (Cautious Rebound )

Recommendations: LONG positions above 1.3580 with 1.3650 & 1.3675 as next targets.
Alternative scenario:The downside breakout of 1.3580 will open 1.3550/1.3520 levels.
Description: At the moment ; the pair is rebounding to the upside , stability above the key support  1.3580 will keep the bullish correction intact and look for 1.3650/1.3675 levels, above 1.3675 would open 1.3710/1.3740 next .On the downside losing 1.3580 would open 1.3550/1.3520 levels.

XAUUSD: ( Rebound)

Recommendations: LONG positions above 1222 with 1245 & 1252 as next targets.
Alternative scenario:The downside breakout of 1222 will open 1210/1200 levels.
Description: Stability above the key support 1222 will keep the bullish momentum intact and look for 1245 ahead of 1252 levels, losing 1222 would delay the bullish move for retreating 1210 ahead of 1200 levels.

Crude Oil: (Bearish Bias )

Recommendations: SHORT positions below 94.40 with 93.25 & 92.90 as next targets.
Alternative scenario:The upside breakout of 94.40 will open 95.00/95.50 levels.
Description: Stability below the key resistance 94.40 will keep the pair under pressure with risk towards 93.25/92.90 levels, break of 94.40 will bring rebound and open 95.00/95.55 levels next.





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