Sunday, 11 November 2012

Weekly Forecast 12/11/2012



General Commentary


SPX 500 in decline. Clean break of 1400 level off the previous week’s pin.
USDOLLAR index still at the top of the current range after a test of the range bottom.
Pair
Price
Bias
Comments
AUD/CAD
1.027, 1.0386
Bull
Break and hold of 1.0386. Inside day closing out the week.
EUR/AUD
1.22259, 1.2374
Bear
Inside day. Watch for rotation back into 1.2374.
GBP/AUD
1.53109, 1.54658, 1.5634
Bear

AUD/JPY
81.969, 82.959, 83.563
Range
Pin bar at Friday close.
AUD/NZD
1.269
Bull
Watch for rotation back into resistance turned support @ 1.269
EUR/USD
1.25907, 1.2803
Bear
Break of double top pattern, targeting 1.25907.
NZD/USD
0.81019, 0.83551
Range
Ranging market.
AUD/USD
1.03238, 1.04091
Range
Price action closing back into the range.
USD/CHF
0.93915, 0.94301, 0.94704
Bull
Tentative break of previous resistance at 0.94704
GBP/USD
1.5757, 1.59134, 1.59774
Bear
Accelerated losses below 1.59774. Looking to target 1.5757.
USD/JPY
79.273, 79.65
Bear
Friday pin bar close off key support level.
EUR/GBP
0.79527, 0.80038
Bear
Watch for retest of 0.80 level.
GBP/CAD
1.57797, 1.59528
Bear
Engulfing bearish candle on Friday.
EUR/CAD
1.26, 1.28
Range
Price action consolidating between 23.6% and 38.2% Fib.
EUR/JPY
-
Bear

XAU/USD
1713
Bull
False break of 1698.3. Price action pushing back through 1725.
 

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