Intraday Market Forecast 30 Dec 2013

EURUSD: (Further Upside )

Recommendations: Long positions above 1.3690 with 1.3800  & 1.3850 as next targets.
Alternative scenario:The downside breakout of 1.3690 will open 1.3660/1.3630 levels.
Description: Stability above the key support 1.3690 will keep the bullish momentum intact and look for 1.3800/1.3850 levels, losing  1.3690 levels will delay the bullish move and bring consolidations, but downside below 1.3690 is likely to be contained well above 1.3630 levels.

XAUUSD: (Bearish Bias)

Recommendations: SHORT positions below 1210 with 1207  & 1203 as next targets.
Alternative scenario:The upside breakout of 1210 will open 1215/1218 levels.
Description: The pair trades below its resistance 1210 , stability below this level will keep the pair under pressure with risk towards 1203 ahead of 1198 levels, below 1198 would open 1182 next .On the upside, break of 1210 would only delay the bearish move for retesting 1215/1218 levels before the next fall.

Crude Oil: (Further Upside )

Recommendations: Long positions above 99.35 with 100.50  & 100.90 as next targets.
Alternative scenario:The downside breakout of 99.35 will open 98.70/98.20 levels.
Description: Stability above the key support 99.35 will keep the bullish momentum intact and look for 100.50/100.90 levels, losing  99.35 levels will delay the bullish move for retesting 98.70/98.20 levels before the next possible rise .

 

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