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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Thursday, December 29, 2011

EURO/USD Outlook(29-dec-2011)

Overarching bearish Eurozone sentiment and geopolitical headlines have taken its toll on the EURUSD. The pair dropped precipitously on news of the ECB expanded balances sheet triggering stop-loss selling on the way to 1.2914. Initial demand is located at 1.2888 (intraday low), 1.2867 (1st Jan low 11) then 1.2600 (76.4% Fibo retracement). On the topside minor resistance is located at 1.2955 (28th Dec high), 1.3078 (intraday high), 1.3237 (13th Dec high), 1.3456 (8th Dec high), 1.3553 (9th Nov high), then 1.3852 (61.8% Fibo retracement). 


By
M.ZOHAIB GADIT
fOREX TRADING CONSULTANT

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