Daily Market Comments: 12/7/2010

[za3eem]

EUR-USD
There is bearish potential for a fall to 1.2592 while 1.2657 - 1.2681 resist. After this fall a recovery up to 1.2681 or 1.2705 is expected.

USD-CHF
Current rise seems to be over near 1.0577 or 1.0606 for a retracement towards 1.0548 - 1.0525 area.

GBP-USD
Market should not go lower than 1.5058 - 1.5009. After this move down it should go up to 1.5135 - 1.5163 area.

USD-JPY
Current rise should end around 88.67 or 88.78. Objectives of this downmove are 88.40 or 88.17. A rise above 88.93 is again bullish.

USD-CAD
It looks set to visit further lower territory down to around 1.0316 - 1.0270. Its corrective attempts should fail ahead of 1.0395 - 1.0428. Stop loss above 1.0521 zone.

NZD-USD
Current upmove should end around 0.7131 - 0.7127 area. A correction down to 0.7075 or even 0.7043 is expected. A rise above 0.7147 will abort the expected correction.

AUD-USD
A correction down to 0.8740 or lower is now expected from 0.8777 or 0.8794. A break above 0.8814 is needed to turn bullish.

EUR-JPY
There are initial signs of a good corrective recovery towards 112.35 or even 112.63. Supports at 111.78 and 111.49 zone.

EUR-CHF
Resistances lie around 1.3374 and 1.3395. It should test lower towards 1.3306 zone. A clear break of 1.3340 would be bearish.

EUR-GBP
Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8400 or 0.8415 if support around 0.8374 hold. After which a pullback to 0.8374 - 0.8362 zone is possible.

EUR-CAD
Market should not go lower than 1.3040 - 1.2966. After this move down it should go up to 1.3162 - 1.3211 area.

EUR-NZD
Market should not go lower than 1.7783 - 1.7724. After this move down it should go up to 1.7875 - 1.7906 area.

EUR-AUD
It might hold above 1.4407 or 1.4370 for a rise towards above 1.4462 or 1.4481. Stop loss below 1.4334 zone.

GBP-CHF
It is a triangle configuration. Market should break either side. Acceleration should occur above 1.6057 or under 1.5887 limits.

GBP-JPY
It looks more likely that it would rise to 134.38 - 135.23 from 133.38 or 132.96. After which a downside move is expected.

GBP-CAD
Market should not go lower than 1.5556 - 1.5449. After this move down it should go up to 1.5725 - 1.5786 area.

GBP-AUD
Support at 1.7171 or 1.7097 should hold the downside for a correction to above 1.7320 zone.

CAD-JPY
Currently uptrend should end around 86.73 - 86.29 area. A correction down to below 84.90 is expected. A rise above 86.82 will abort the expected correction.

NZD-JPY
One move lower to 62.59 or 62.19 is anticipated while below 63.04 - 63.24 area. Stop loss above 63.50 zone.

AUD-JPY
One move lower to 77.36 or 76.96 is anticipated while below 77.79 - 77.99 area. Stop loss above 78.21 zone.

XAG-USD
It should try higher up to 18.16 - 18.27. Entry point 18.05 or 17.97. After this rise, a correction is expected.

XAU-USD
Currently uptrend should end around 1211.77 - 1217.54 area. A correction down to below 1198.17 is expected. A rise above 1225.38 will abort the expected correction.

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