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  1. EUR/USD Testing 1.30 as Markets Hopeful on Fiscal Cliff

    by , 11-30-2012 at 07:06 AM
    [COLOR=#444444][FONT=Arial][B][URL="http://www.forexcrunch.com/category/forex-weekly-outlook/eur-usd-outlook/"]EUR/USD[/URL][B] briefly broke above the 1.30 line, as the markets are hopeful that a deal over the fiscal cliff will soon be reached in Congress. President Obama is taking an active role in the negotiations between the Republicans and Democrats, who are expected to reach a compromise despite some strong rhetoric on both sides. US Pending Home Sales were outstanding, jumping 5.2%, which was a five-month high. Economic data out of the Europe was less cheerful, as German Retail Sales dropped by 2.8%, the indicator’s sharpest plunge since September 2011. Euro-zone unemployment rate remained unchanged at 11.7%, matching the market forecast. ...
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  2. USDCAD moves sideways in a narrow range between 0.9905 and 0.9960

    by , 11-29-2012 at 10:41 PM (Free Forex Market Analysis)
    USDCAD moves sideways in a narrow range between 0.9905 and 0.9960. The price action in the range is likely consolidation of the downtrend from 1.0055. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall to test 0.9874 support is possible after consolidation. On the upside, a clear break above the channel resistance will suggest that the downtrend from 1.0055 has completed at 0.9905 already, then the following upward movement could bring price to 1.0100 area.



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  3. DAILY FORECAST FOR EURUSD

    by , 11-29-2012 at 10:31 PM (The Daily Forecaster)
    To follow on from yesterday's comments:

    [B]BIAS[/B]: The 1.2944 - 1.3038 range appears to be critical to the next larger move

    [B]Resistance[/B]: 1.2984 1.3013 1.3030-38 1.3056
    [B]Support[/B]: 1.2944 1.2925 1.2899 1.2880

    [B]MAIN ANALYSIS[/B]: We saw gains as expected.. But actually much stronger than I had thought to reach 1.3013. Being the upper end of the target I suggested on Monday there is a risk that we've seen a more cumbersome final push higher. However, within yesterday's rally I feel that we should also consider the possibility of an even higher high. Thus, we have three options today:

    - that we see a break above 1.3013 that should extend gains into the 1.3030-38 ...
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  4. USDCAD remains in downtrend from 1.0055

    by , 11-28-2012 at 10:00 PM (Free Forex Market Analysis)
    USDCAD remains in downtrend from 1.0055, the bounce from 0.9905 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall to test 0.9874 support could be seen, a breakdown below this level will confirm that the longer term uptrend from 0.9632 (Sep 14) had completed at 1.0055 already, then the following downward move could bring price to 0.9700 area. On the upside, a clear break above the channel resistance will indicate that the downward movement from 1.0055 is complete, then further rise towards 1.0100 could be expected.

    ...
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