Intraday Market Forecast 10 Jan 2014

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

EURUSD: (Under Pressure )

Recommendations: SHORT positions below 1.3650 with 1.3580 & 1.3555 as next targets.
Alternative scenario:The upside breakout of 1.3650 will open 1.3680/1.3710 levels.
Description: The pair is under pressure as long as trades below 1.3650 levels with risk towards 1.3580/1.3555 levels , losing  1.3555 would open 1.3520/1.3480 levels.On the upside , break of 1.3650 would bring rebound towards 1.3680/1.3710 levels, further out will aim the 1.3740/1.3770 levels..

XAUUSD: ( Rebound)

Recommendations: LONG positions above 1230 with 1240 & 1250 as next targets.
Alternative scenario:The downside breakout of 1230 will open 1225/1220 levels.
Description: Stability above the key support 1230 will keep the bullish momentum intact and look for 1240 ahead of 1250 levels, break of 1250 would open 1257/1266 levels ,On the downside losing 1230 would delay the bullish move for retreating 1225 ahead of 1220 levels.

Crude Oil: (Bearish Bias )

Recommendations: SHORT positions below 93.20 with 91.80 & 91.30 as next targets.
Alternative scenario:The upside breakout of  93.20 will open 93.90/94.50 levels.
Description: Stability below the key resistance 93.20 will keep the pair under pressure with risk towards 91.80/91.30 levels, break of 93.20 will bring rebound and open 93.900/94.50 levels next.

 

MARKET DATA

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