FX Daily Strategy December 16th, 2011

[mohalia]

EUR/USD: 1.3010 – 1.3055 {Bearish Bias}



EUR/USD currently remains in consolidation mode. Hourly stochastic and CCI provide bearish signals. Our preference is to look for bearish pattern confirmation at the range 1.3010 – 1.2055 to go SHORT

 

[mohalia]

USD/CHF: 0.9420 – 0.9460 {Bearish Bias}



USD/CHF currently is under pressure. Hourly stochastic and CCI are oversold. Our preference is a pullback move to the range 0.9420 – 0.9460 to go SHORT.

 

[mohalia]

GBP/USD: 1.5495 – 1.5545 {Bearish Bias}


GBP/USD currently is in the confluence zone while hourly stochastic and CCI are showing bearish signals. Our preference is to look for bearish pattern confirmation within the range 1.5495 – 1.5545 to go SHORT.

 

[mohalia]

AUD/USD: 0.9975 – 1.0010 {Bearish Bias}


Pullback occurs on AUD/USD. Hourly stochastic and CCI are overbought. Our preference is to look for bearish pattern confirmation at the range 0.9975 – 1.0010 to go SHORT

 

[mohalia]

EUR/JPY: 101.50 – 101.80 {Bearish Bias}



EUR/JPY is still moving sideways. Hourly stochastic and CCI provide bearish signal. Our prefrence is to look for bearish pattern confirmation at the range 101.50 – 101.80 to go SHORT.

 

[mohalia]

XAU/USD: 1583.25 – 1602.45 {Bearish Bias}



XAU/USD currently is moving in consolidation mode. Hourly stohcastic and CCI are overbought. Our preference is to look for bearish pattern confirmation at the range 1583.25 – 1602.45 to go SHORT. Use care as there is a potential for a double bottom pattern on the hourly chart.