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Breaking: 19/12 - EUR/USD recovers slightly from lows near 1.2250, GBP/USD finds support near 1.5600                     

 

 

Positioning set to dominate    Dec 19th 2014 - 13.20 GMT:    Follow us on Twitter for latest updates:     

With no US data releases over the remainder of Friday, positioning and option expiries will have an important impact, especially with many traders seeing today as the last full trading day ahead of the new-year period. The big 1.2300 option expiry will act as a magnet until 10.00 ET and then volatility is liable to spike. Longer-term EUR/USD still looks a solid fade on fundamentals. Short-term buying dips is likely to offer slightly better value, especially given the overall market positioning.

                             Latest daily trading recommendations:    December 19th 2014  (time frame 3-24 hours) Delayed by 2 hours

Currency pair Date Time (GMT) Order type Target entry level Target 1  Target 2 Status

Market comment

EUR/US$ 19-12-14  13.15 Limit order Buy at 1.2255 1.2285 1.2315 In play Immediate support on approach to 1.2250 area
USD/CHF 19-12-14  13.15 Limit order Buy at 0.9730 0.9765 0.9810 Pending Support on correction back towards 0.9720 area
AUD/US$ 19-12-14  13.15 Limit order Available to premium subscribers ***** ***** Pending Immediate resistance above 0.8200
US$/CAD 19-12-14  13.15 Limit order Buy at 1.1525 1.1560 1.1600 Pending 1.1500 area key support area
EUR/CHF 19-12-14  13.15 Limit order Buy at 1.2015 1.2050 1.2090 Pending Support around 1.2010
GBP/US$ 19-12-14  13.15 Limit order Available to premium subscribers ***** ***** Pending Selling interest above 1.5650
US$/JPY  19-12-14  13.15 Limit order Available to premium subscribers ***** ***** Pending Key resistance close to 120.00

Short-term: key level to watch:

EUR/USD: 1.2250

EUR/USD was subjected to renewed selling on Wednesday after the FOMC with lows at 1.2280 as underlying bearish tone reasserted itself. Decline through 1.2230/50 triggers another selling wave.

Please see Sterling for full GBP signals and yen for full JPY signals  

 

 

 

 

 

Medium-term: key level to watch:

GBP/USD: 1.5000

GBP/USD found support below 1.5550 and has rallied back above 1.5600. The overall outlook, however, remains bearish with the risk of a slide to the 1.5000 area over the medium term.

Long-term: key level to watch

EUR/USD: 1.2050

EUR/USD is substantially over-sold on a short-term view and at least a limited corrective rally is likely to be seen. From a longer-term perspective, there is scope for moves to the 1.2050

Trade of the Month  -  November 20th: - 13.00 GMT

Pending: Sell EUR/USD at 1.2740, target 1.2360 s/l  1.2916

 

Trade of the week  -  December 9th: - 13.00 GMT

Pending: Sell GBP/USD at 1.5685  target 1.5510, s/l 1.5759

 

 

 

 

 

 

 

 

 

 

 

 

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