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[QUOTE="PaxForex Support, post: 36850, member: 19229"] [B]EURUSD now projects flat bullish signals[/B] [IMG]http://www.paxforex.com/getattachment/TopMenu/TradingTools/ForexAnalysis/December-2012/Forex-Technical-Outlook,-EU-Session,-December-04,/eurusd-h1-oct-04-copy.jpg[/IMG] [B]Resistance Levels[/B] R3: 1.3177 R2: 1.3126 R1: 1.3088 [B]Support Levels[/B] S1: 1.2999 S2: 1.2948 S3: 1.2910 For intraday bias, the EURUSD is now showing flat bullish signal in its movement, as prices are now moving at 1.3070 and shows more upside trading confirming its flat bullish movement on its price chart. Its RSI (14) indicates that prices are still moving near the overbought levels. In addition, the weak traction at the moment might project more bullishness in its movement. The MACD (9, 12, 26) also indicates that prices are now moving below the overbought levels. Meanwhile, the flat bullish signals shown in its Technicals are in conformity with the positive signals shown in its fundamentals, as risk appetite shielded the euro from waning, as Greece’s 13 billion dollar bond buyback plan helped risk appetite to increase in the euro-zone. With Greece, in an effort to reform its worsening economy and reduce its debt at a sustainable level has revealed plans yesterday to spend up to 10 billion euro in bonds buyback program to help ease and stabilize its burgeoning debt. In addition, the region finance ministers have approved a 39.5 billion euro aid to Spanish banks, thereby warding off the threat of Spain for a bailout. Thus, the strong signals shown in its fundamentals, might push the Euro for more positive trend today and indicates that a buy position is recommended for the coming session. [B]GBPJPY is now showing a slight bullish pattern[/B] [IMG]http://www.paxforex.com/getattachment/TopMenu/TradingTools/ForexAnalysis/December-2012/Forex-Technical-Outlook,-EU-Session,-December-04,/gbpjpy-h1-dec-04-copy.jpg[/IMG] [B]Resistance Levels[/B] R3: 133.24 R2: 132.88 R1: 132.59 [B]Support Levels[/B] S1: 131.94 S2: 131.58 S3: 131.29 For the intraday bias, expect the GBPJPY to show weak bullish signals in its price action as weak signal is causing prices to move at 132.21 confirming its bullish trajectory for the coming hours. Currently, prices are now moving at 132.21 since the 5-day EMA, 9-day SMA and 21-day SMA are creating the three brother bullish pattern at the moment, thus weakness might take place. Meanwhile, the RSI (14) and MACD (9, 12, 26) both indicate that prices are now near the overbought territory and might project more bullish pattern for the pair’s price action for the coming hours. Thus, a buy position is recommended. [B]EURJPY is showing weak bearish signals[/B] [IMG]http://www.paxforex.com/getattachment/TopMenu/TradingTools/ForexAnalysis/December-2012/Forex-Technical-Outlook,-EU-Session,-December-04,/eurjpy-h1-dec-04-copy.jpg[/IMG] [B]Resistance Levels[/B] R3: 108.34 R2: 107.95 R1: 107.64 [B]Support Levels[/B] S1: 106.94 S2: 106.55 S3: 106.24 For the intraday bias, anticipate the EURJPY to showing bearish pattern in its price action as confirmation is given by the 5-day EMA, 9-day SMA and 21-day SMA at the moment indicating bearishness in its lines, as prices are now moving gradually near the oversold level and currently moving at 107.19, indicating bearishness in its movement. With prices showing weak traction in its movement in which further drop in its traction is projected in its upcoming session, with the confirmation given by its 5-day EMA, 9-day SMA, and 21-day SMA lines in order to confirm its bearish trend in its hourly chart. Thus, a sell position is possible. [B]EURCHF is now showing strong bullish signal[/B] [IMG]http://www.paxforex.com/getattachment/TopMenu/TradingTools/ForexAnalysis/December-2012/Forex-Technical-Outlook,-EU-Session,-December-04,/eurchf-h1-dec-04-copy.jpg[/IMG] [B]Resistance Levels[/B] R3: 1.2146 R2: 1.2120 R1: 1.2100 [B]Support Levels[/B] S1: 1.2054 S2: 1.2028 S3: 1.2008 For the intraday bias, expect the EURCHF to now show strong bullish signals in its movement, as prices are currently moving at 1.2132 and which is now hitting its key resistance lines of 1.2100 and 1.2120 which is now showing strong traction in its movement under its hourly chart. Its RSI and MACD are showing that prices are now rising over the overbought levels indicating extremely overbought in its price action. As its prices for now are showing bullish signals at the moment, expect prices to drop due to its overbought levels in its trading for the coming hour as its 5-day EMA, 9-day SMA and 21-day SMA are all bent to show strong pattern for the coming hours. [/QUOTE]
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