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Forecast for 13th December 2012 Spot Euro Euro hesitated at 1.3017/27 but eventually broke higher to reach our next target 1.3085 and over ran slightly to 1.3097. If we mange to continue the recovery and hold above 1.3085 we could see a test of last week’s high at 1.3127. It looks unlikely we can go any higher at this stage so worth attempting shorts with a stop above 1.3140 for a test of 1.3170. If we hit profit taking today we could see a drift back to 1.3017/27 support. Watch for a low for

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Spot Euro, Dax, Eurostoxx, FTSE 100, E-Mini S&P, Hang Seng CE, Hang Seng, Kospi, Nikkei, Straits Times Index, Topix

Daily Technical Outlook on GBP/USD Last Update At 13 Dec 2012 00:13GMT Trend Daily Chart Sideways Daily Indicators Rising 21 HR EMA 1.6134 55 HR EMA 1.6112 Trend Hourly Chart Sideways Hourly Indicators Turning down 13 HR RSI 53 14 HR DMI +ve Daily Analysis Resistance 1.6273 – Sep 23 high 1.6218 – Oct 05 high 1.6176 – Nov 01 high Support 1.6095 – Y’day’s low 1.6064 – Hourly chart 1.6043 – Mon’s Asian high . GBP/USD – 1.6138 … Despite y’day’s sideways move in Asia n a brief dip to 1.6095 at

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Daily Technical Outlook on GBP/USD

Resistance: 1.6138 strong / 1.6182 moderate / 1.6215 minor Support: 1.6105 moderate / 1.6061 minor / 1.6028 minor GBPUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Morning Star (Doji). With a strong resistance at 1.6138, the Pivot Point, just ahead of the pattern the preferred course of action is to wait for a push past 1.6138 before buying. Immediate target is 1.6182 then on to 1.6215. Stops should be placed below the patterns low. For pattern explanation

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GBPUSD Morning Star (Doji) Hourly Chart

S&P 500 (Dec 12) INTRADAY Review Such was the bullish nature of the US cash open it meant that our main long entry level was not reached. Our second profit target was breached and this set up a nice bullish phase that took the index up to a two month high breaking above the November double top at 1431.75 going into the European close. The breach of this key resistance triggered a sharp break out up to 1434.25 which in the end turned out to be the exhaustion point. From there the market had

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The December downward trend line was finally breached yesterday

Review: Fiscal Cliff: Despite the positive tones over the last couple of days, it seems that the agreement will, at the earliest, be concluded after Christmas. Japan published decent economic indicators overnight, and consequently EURJPY increased. Generally, Japan is right now associated with a positive sentiment, and given the expected change in leadership after the elections on Sunday, we expect that EURJPY may increase up to 109-110. Greece: The prerequisites for the payment of the next

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An early Christmas present from the Fed?

EUROSTOXX 50 (Dec 12) INTRADAY Review The Eurostoxx continued on with Monday’s rally off the lows of the week in yesterday’s trade, gaining 0.88% on the day as risk assets seemed content with pricing in further monetary policy easing ahead of today’s FOMC rate decision. Our yesterday’s strategy neutral entry short at 2,616 provided solid resistance to the price for the majority of the European session. However, the escalation in upside momentum following the US cash open brought the Eurostoxx

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The European economic calendar for today is relatively uneventful

1minute with ForexSurvivor Latest impact:

Forecast for 12th December 2012 Spot Euro Euro staged a recovery pushing through resistance seen at 1.2849 and then made it exactly to out next target of 1.3017/27.Take profit on longs here as stated yesterday and try shorts with a stop above 1.3045. A push through here may then target1.3085, possibly last week’s high at 1.3127.Failure to get through 1.3017/27 keeps the bears in control for a dip back to 1.2949. Failure here then takes us back towards1.2894/80 support which could hold again at

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Spot Euro, Dax, Eurostoxx, FTSE 100, E-Mini S&P