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FX.co ★ Daily Trading Forecasts for December 27, 2012

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Forex Analysis:::2012-12-27T11:32:49

Daily Trading Forecasts for December 27, 2012

EURUSD: There is still a bullish scenario on the EURUSD. The EMA 11 is above the EMA 56, while the RSI period 14 is above the level 50. The price is close to the resistance line of 1.3250: it may eventually succeed in breaking it to the upside, after which it would go for the resistance line at 1.3300.

Daily Trading Forecasts for December 27, 2012


USDCHF: There is still a valid bearish Continuation Confirmation Pattern on the USDCHF. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The price seems to be consolidating right now, but it will eventually get to the support level at 0.9100.

Daily Trading Forecasts for December 27, 2012

GBPUSD: As it was mentioned in the Currency Market Review yesterday, the Bearish Confirmation Pattern on the Cable still holds, irrespective of the consolidation that seems to be taking place right now. The price zone at 1.6150 could halt any further bullish propensity, whereas the price would need to overcome the barrier at the accumulation zone at 1.6100 before finding the next move downwards.

Daily Trading Forecasts for December 27, 2012

USDJPY: Following the gap that occurred yesterday, this pair traded upwards. The northward outlook still remains. But there is a possibility of a temporary pullback or sideways movement, because the RSI period 14 has moved into the overbought area, i.e. above the level 70.

Daily Trading Forecasts for December 27, 2012

EURJPY: Since the gap that happened on Wednesday, this instrument has traded upwards for more than 100 pips. The northward bias is very much conspicuous. But there is also a possibility of a pullback or consolidation in the near-term. The price currently hovers around the supply zone at 113.57. Whenever this is overcome, the next target would be the supply zone at 114.00. Daily Trading Forecasts for December 27, 2012

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