|Dear Readers,We have only two trading days left for the week/month/year and the market looks uncertain ahead of the year end. Since we have made $500+ profit so far, we are closing the books for the month and we will not be trading for the rest of the week.|
Wish you all a very HAPPY NEW YEAR.
|USD-CHF @ 0.9460/63...Bullish|
|R: 0.9490-500 / 0.9550|
S: 0.9420 / 0.9400-380 / 0.9335Dollar-Swiss has risen further and is keeping up our bullish view intact. We expect the pair to continue to trade above 0.9400 and a test of 0.9500-50 looks likely now. As mentioned in our morning comments, 0.9400-9380 is a significant Resistance-turned-Support region which we expect to hold if a sharp dip is seen from current levels in the coming sessions.
|GBP-USD @ 1.5385/88...Threat of seeing 1.5100 on the downside|
|R: 1.5400 / 1.5450 / 1.5500|
S: 1.5360 / 1.5300 / 1.5200Contrary to our expectation Cable has broken below 1.5400. Important Support is now available at 1.5360 which needs to be watched. A break below 1.5360 will open door for a test of 1.5100 going forward. The pair now needs to see a strong bounce back above 1.5400 to ease the downside pressure. We will have to wait and see.
|AUD-USD @ 1.0049/52...Can test 0.9900-9880 on the downside|
|R: 1.0100 / 1.0150-70 / 1.0200|
S: 1.0000 / 0.9900-9880Aussie remains weak. It has failed to bounce back above 1.0100 today. Failure to bounce back above 1.0100 is keeping up the chances of testing 0.9900-9880 on the downside. The pair is looking weak and we expect it to continue to trade below 1.0100.