Intraday Market Forecast 09 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 1.3618 with 1.3550 & 1.3530 as next targets.
Alternative scenario:The upside breakout of 1.3618 will open 1.3655/1.3685 levels.
Description: The pair is under pressure as long as trades below 1.3618 levels with risk towards 1.3550/1.3530 levels , losing  1.3530 would open 1.3490/1.3450 levels.On the upside , break of 1.3618 would bring rebound towards 1.3655/1.3685 levels, further out will aim the 1.3710/1.3750 levels..

XAUUSD: ( Rebound)

Recommendations: LONG positions above 1218 with 1228 & 1233 as next targets.
Alternative scenario:The downside breakout of 1218 will open 1212/1205 levels.
Description: Stability above the key support 1218 will keep the bullish momentum intact and look for 1228 ahead of 1233 levels, break of 1233 would open 1240/1250 levels ,On the downside losing 1218 would delay the bullish move for retreating 1212 ahead of 1200 levels.

Crude Oil: (Bearish Bias )

Recommendations: SHORT positions below 93.50 with 92.00 & 91.40 as next targets.
Alternative scenario:The upside breakout of  93.50 will open 94.00/94.50 levels.
Description: Stability below the key resistance 93.50 will keep the pair under pressure with risk towards 92.00/91.40 levels, break of 93.50 will bring rebound and open 94.00/94.55 levels next.

 

MARKET DATA

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