Forex Market Trading Opportunities For Today - 12/12/2016
It's little early to get enough liquidity and judge the major moves at the beginning of the week but we are looking for these support / resistance levels in major currency pairs to get few pips.
EUR/USD - All eyes on 1.0500. That's a make or break level for the euro. If 1.0500 goes away and parity talks are back on the table with high probability. And in fact in that case, it may not just stop there and fall as much as 10 more handles within the reach of 0.9000. It's just a thought, because when major levels give up, market tends to over/under-shoot a lot. Anyway, still like to trade Euro from short side ( Check the link ) and nearby resistance is at 1.6000.
GBP/USD - Our long pound trade is having good start so far. ( check the link ) First target has been achieved at 1.2600 and still we will be looking to trade it with positive bias. Support levels are 1.2550, 1.2500 and 1.2450.
AUD/USD - Nothing major until either 0.7500 or 0.7400 is breached. So range trading is the name of the game. ( check the link )
NZD/USD - Same as AUD/USD. Support at 0.71, 0.7050 and good one at 0.7000. Resistance at 0.7200
JPY pairs - Don't chase it ! Better support levels are hundred something pips away in all major JPY pairs so just be patient.
EUR/USD - All eyes on 1.0500. That's a make or break level for the euro. If 1.0500 goes away and parity talks are back on the table with high probability. And in fact in that case, it may not just stop there and fall as much as 10 more handles within the reach of 0.9000. It's just a thought, because when major levels give up, market tends to over/under-shoot a lot. Anyway, still like to trade Euro from short side ( Check the link ) and nearby resistance is at 1.6000.
GBP/USD - Our long pound trade is having good start so far. ( check the link ) First target has been achieved at 1.2600 and still we will be looking to trade it with positive bias. Support levels are 1.2550, 1.2500 and 1.2450.
AUD/USD - Nothing major until either 0.7500 or 0.7400 is breached. So range trading is the name of the game. ( check the link )
NZD/USD - Same as AUD/USD. Support at 0.71, 0.7050 and good one at 0.7000. Resistance at 0.7200
JPY pairs - Don't chase it ! Better support levels are hundred something pips away in all major JPY pairs so just be patient.
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