Intraday Market Forecast 13 Jan 2014

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

EURUSD: (Upside Bias )

Recommendations: LONG positions above 1.3600 with 1.3710 & 1.3745 as next targets.
Alternative scenario:The downside breakout of 1.3600 will open 1.3550/1.3500 levels.
Description: Intraday bias in EURUSD is on the upside , and rise from 1.3547 could extend higher towards 1.3750 levels as long as support 1.3600 holds , below 1.3600 would expose 1.3547 and open 1.3500 levels and below…

Support & Resistance : 1.3500 , 1.3547 , 1.3600 (Pivot ) , 1.3635 , 1.3710 , 1.3745

XAUUSD: ( Upside Bias)

Recommendations: LONG positions above 1235 with 1260 & 1270 as next targets.
Alternative scenario:The downside breakout of 1235 will open 1225/1215 levels.
Description: Intraday bias in XAUUSD is on the upside , and rise from 1218 could extend higher towards 1270 levels as long as support 1235 holds , below 1235 would  turn bias neutral and open 1225 ahead of 1218 levels…….

Support & Resistance : 1215 , 1225 , 1235 (Pivot ) , 1250 , 1260 , 1270

Crude Oil: (Bearish Bias )

Recommendations: SHORT positions below 93.50 with 92.00 & 91.50 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 92.00/91.50 levels, break of 93.50 will bring rebound and open 94.00/94.50 levels next.

Support & Resistance : 92.00, 92.50 , 93.00, 93.50 (Pivot ) , 94.00 , 94.50 , 95.00

MARKET DATA

UPCOMING ECONOMIC EVENTS