FX Daily Strategy December 15th, 2011

[mohalia]

EUR/USD: 1.3010 – 1.3055 {Bearish Bias}

EUR/USD remains under pressure in general, but bearish momentum turns down and the pair is moving sideways. Our prefrence is to look for bearish pattern confirmation at the range 1.3010 – 1.3055 to go SHORT.

 

[mohalia]

USD/CHF: 0.9480 – 0.9515 {Bullish Bias}

USD/CHF remains in an uptrend but bullish momentum decreases and the pair is moving in consolidation mode. Our preference is to look for bullish pattern confirmation at the range 0.9480 – 0.9515 to go LONG

 

[mohalia]

GBP/USD: 1.5470 – 1.5520 {Bearish Bias}

GBP/USD remains capped by a negative trend line as seen on the hourly chart. Our preference is to look for bearish pattern confirmation at the range 1.5470 – 1.5520 to go SHORT. Note the falling trend line area.

 

[mohalia]

AUD/USD: 0.9925 – 0.9965 {Bearish Bias}

AUD/USD currently is moving in consolidation mode, testing the support at 0.9879. Major trend remains down. Our preference is to look for bearish pattern confirmation at the range 0.9925 – 0.9965 to go SHORT.