USDCHF Daily Ranges Mixed Intraday

USDCHF Daily

Our preference: Long positions above 0.9138 with targets @ 0.9165 & 0.918 in extension.

Alternative scenario: Below 0.9127 look for further downside with 0.91 & 0.909 as targets.

Comment: intraday technical indicators are mixed and call for caution.

USDCAD Whats oil Doing

U.S. crude oil inventories fell less-than-expected last month, official data showed on Friday.

In a report, Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -0.586M, from -0.964M in the preceding month.

Analysts had expected U.S. Crude Oil Inventories to fall -1.857M last month. from inv

Our preference: Long positions above 0.9967 with targets @ 0.997 & 0.998 in extension.

Alternative scenario: Below 0.9906 look for further downside with 0.9905 & 0.988 as targets.

Comment: a support base at 0.9831 has formed and has allowed for a temporary stabilisation.

AUDUSD DOWN UNDER

AUDUSD Daily 

The Australian dollar resumed its uptrend against its U.S. rival in Monday’s Asian session despite a disappointing private sector credit report. 

In Asian trading Monday, AUD/USD climbed 0.25% to 1.0400. The pair is likely to find support at 1.0343, Wednesday’s low and a five-week low and resistance at 1.0395, Friday’s high. 

Surprisingly, the amount of new credit extended to Australian businesses and consumers last month was flat with the prior month’s level. 

In a report, Reserve Bank of Australia said that Australian Private Sector Credit remained unchanged at a seasonally adjusted 0.0%, from 0.1% in the preceding month. Analysts had expected Australian Private Sector Credit to rise 0.3% last month. 

The Aussie dollar was also able to gain ground against the greenback despite more dour news about the fiscal cliff. The U.S. Senate broke for the evening with no cliff resolution in place, but has promised to reconvene later today. 

During a press interview Sunday, President Obama said financial markets would be adversely impacted if Congress fails to craft a fiscal cliff resolution prior to the Tuesday deadline. Obama said his top priority to ensure that taxes on middle-class Americans do not go up. 

Obama’s tone regarding a fiscal cliff resolution remains optimistic, but time is running short. Congress recessed for the evening, but pledged to reconvene later today. However, little headway was made towards resolving the GDP-draining fiscal cliff Sunday, giving policymakers less than two days with which to work. 

AUDUSD 4HRS

Timelessfx preference: Long positions above 1.0440 otherwise  Correctively  bearish 

Alternative scenario: Below 1.0365 look for further downside with 1.0345 & 1.033 as targets.

Comment: the RSI calls for a new upleg.

GBPUSD SUN Behide The clouds of Rain

 The pound edged higher against the U.S. dollar on Friday, but gains were limited as sentiment turned cautious amid ongoing uncertainty surrounding talks to avert the looming fiscal cliff in the U.S.

Cable is likely to find support at 1.6065, Thursday’s low and resistance at 1.6201, Thursday’s high.

Trading volumes were thin as many investors already closed books to lock in profit before the end of the year, reducing liquidity in the market and increasing the volatility.

Market players remained focused on developments surrounding the fiscal cliff in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1 unless Democrats and Republicans agree how to cut the deficit. news From inv

Our preference: Long positions above 1.611 with targets @ 1.62 & 1.6235 in extension.

Alternative scenario: Below 1.611 look for further downside with 1.606 & 1.6 as targets.

Comment: technically, the RSI is above its neutrality area at 50.

EURUSD 4 Your Eyes Only

EURUSD DAILY

50/50

Monday, December 31

Markets in Germany will remain closed for New Year’s Eve.   

Tuesday, January 1

Markets in the U.S. and in Europe will remain closed in observance of New Year’s Day.

Wednesday, January 2 

In the euro zone, Spain and Italy are to release official data on manufacturing activity, a leading indicator of economic health. In addition, Germany is to produce preliminary data on consumer price inflation.

Later in the day, the Institute of Supply Management is to produce a report on manufacturing growth in the U.S., a leading indicator of economic health.

Thursday, January 3

Official data is to be produced on German unemployment change. Separately, Spain is to publish a similar report.

Later Thursday, the U.S. is to release a report on ADP nonfarm payrolls, as well as its weekly government report on initial jobless claims. In addition, the Federal Reserve is to publish the minutes of its most recent policy-setting meeting.

Friday, January 4

The euro zone is to publish preliminary data on consumer price inflation, which accounts for the majority of overall inflation, as well as data on service sector activity. 

In addition, Germany is to produce government data on retail sales, a leading indicator of economic health, while Italy and Spain will also release data on service sector growth.

The U.S. is to round up the week with official data on nonfarm payrolls, the foremost gauge of job creation, as well as data on the overall unemployment rate. 

The country is also to release official data on factory orders, crude oil stockpiles and natural gas inventories. In addition, the ISM is to produce a report on service sector activity.


EURUSD 4hrs
 scenario: Above 1.3211 look for further upside with 1.326 & 1.3285 as targets.

Short positions below 1.3211 with targets @ 1.32 & 1.3167 in extension.

Comment: the pair is rebounding but stands above  4hr anchor but below its resistance. and at weekly Pivot

USDJPY 4hrs

Looks High but trying to hold the weekly 200 Day moveing average would love a pull back?

The Precious Metal Gold and the New Year

 Our preference: LONG positions above 1652 with 1669 & 1679 in sight.

Alternative scenario: The downside penetration of 1652 will call for 1645 & 1635.
 
Comment: a support base at 1652 has formed and has allowed for a temporary stabilisation.

Weekly pivot at 1665 above the area Mr Price is most likely will test the Sniper Zone in Red. depending on the open high low and close on the approach to this area our strategy still viewed as a Correctively   Bearish move

Volatility periods is a beta test strategy signalling the best times to expect high probability  movement 

Hopefully in time this will prove to be a very Powerful tool to add to our Arsenal