XAUUSD Bullish Harami Hourly Chart

Resistance: well above forecasted values Support: 1735.89 minor/1734.17 minor/1731.83 moderate XAUUSD Hourly charts has a low level bullish pattern, Bullish Harami. Though market is bullish price action is already overextended. New positions should be avoided while open buys should have their stops tightened to just under the patterns low. Learn more about the chart patterns and how to recognize them in our Learning Center:

Currencies anticipate the joys of today’s Troika meeting

Currencies anticipate the joys of today’s Troika meeting – we think there is more to be expected Review: Good news The only important economic indicator on Friday was the German IFO index. Both the IFO Current Assessment and the IFO Expectations beat consensus estimates and, moreover, they were at higher levels compared to last time. The EU budget talks collapsed on Friday and were postponed until 2013. The collapse did not affect the FX market, but it is a signal of the political challenges

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Currencies anticipate the joys of today’s Troika meeting

The Eurostoxx gained 0.95% in Friday’s trade

EUROSTOXX 50 (Dec 12) INTRADAY Review The Eurostoxx gained 0.95% in Friday’s trade and finished the week with a gain of 4.84% (largest weekly gain since the first week of September). In addition the index set a new high for the month, albeit breaching the high set on 7th November by just 4 prices in Friday’s trade. Our Friday’s neutral entry short at 2,537 was stopped out as the rally off the lows of the session gained momentum ahead of the US cash open. Strategy Equity indices resumed upside

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The Eurostoxx gained 0.95% in Friday’s trade