Posted on 18 JUN 2012 05:46
We are Sidelined because of Greece Elections but still supporting the USD Bears Cautiously.

Economic Release :  A slew of  Economic Indicators are out from most countries ,  Greece Elections on Sun, RBA Meeting Minutes  and  UK Core CPI on Tue, GER PPI , BOE Minutes and  FED Interest Rates Decision  and press conference on Wed,  EU leaders special summit  and CAD CPI  on Fri are the  most  important data's  for this Week.

                           USD weakness  happened as expected last Week and we expect this to continue for another Week but Cautious approach is needed  , coming to the third trading Week of the Month we believe that EURUSD  closed  @ Open but away from  the lows , we believe the Bulls  may push  towards 12745/12830/12960  levels before testing the lows and 12435/12380-60 levels must be protected at all times .  EURUSD is trading at the Make or Break Scenario so Cautious approach is needed. The Bulls must crack the 12665 level convincingly for a further push higher.  GBPUSD closed  well above the Open and near the highs, we  believe that the Bulls may dominate  again this Week and  may test 15805-65/16000-75 levels before the next significant move down and they must protect 15625/15560  levels at all times. USDJPY closed below  the open and near the low, we  believe that the Bears may  push one more attempt towards 7765/7600/7550 levels but the process may be a bit slow, 7920-75 levels must be protected at all times to maintain the Bearish view  .

                           USDCHF closed  @ the Open but  away from the highs , we believe that the  Bears may attempt to crack 9515 level and test 9405/9375/9255-15  levels before a reverse  and 9565/9650 levels must be protected at all times. AUDUSD closed well above the Open but away from the lows, we believe the Bulls  may attempt one more time to push towards 10135-90/10265/10385 levels and 9995-25 levels  must be protected at all times. USDCAD closed @ the Open but  away from the high, we believe the Bears may crack  10205 levels and push towards 10115/10055/9965-05 l levels  and 10310-65/10445  levels needed to be protected at all times. The Bears need to crack the 10200 level for a further push lower.

                           Spot Gold closed above  the Open but  away from the low , we believe that the Bulls are getting ready for the next major move but now caught in a range between 15640/16700 /16940 levels.  The Signals  are mixed  and we believe it is going to be a choppy session until a clear breakout. NZDUSD closed well above the Open and near  the high  and we believe the Bulls  may push towards 8000-45-85/8250  levels and 7790-45  levels  must be protected at all times. USDSGD closed mildly below  the Open but away from the high, we believe that Bears  may push towards the 12650/12525/12480 levels and 12780/12870  levels must be protected at all times.

                            The Best crosses we choose for this week are  we are still in favour of the USD Bears but remain Cautious because of the Greece Elections. We remain as Day traders and trade on the Daily levels.

The Accuracy of the Long Term View may vary from the Weekly Projected Levels, so it is better to Pay attention to the Daily Report for more scrutinized view. Good Luck  and Happy trading for the Week .

 

 

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