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Gold approaches the first target 26/11/2012
The price rallied sharply to the upside approaching from the initial waited target at 1760.00, and it might be forced to show some fluctuation now due to the sensitivity of this level for the short term trend.
In general, we expect continuing the gains for the upcoming term, and in case surpassing the mentioned level, the way will be open for targeting the psychological barrier levels 1800.00, with being aware that stability above 1731.00 is considered as the most important factor to keep the chances of achieving these expectations.
Expected trading range for this week is between: 1731.00 support and 1800.00 resistance.
Expected trend for this week: Bullish
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USD CAD attacks the waited support 26/11/2012
The pair declined to begin the attempts of breaching the rising wedge support shown in the image, where the price needs a confirmed breach to 0.9920 level in order to activate the pattern’s negative effect.
MoreUSD JPY in sideways’ range 26/11/2012
The pair shows sideways trading range recently with slight bearish bias after approaching from 83.00, and affected by Stochastic .
MoreGBP USD breaches strongly 26/11/2012
The pair achieved solid breach to the bearish correction channel resistance and settled with daily and weekly close above it, to offer positive signals for the attempts of stopping the correction mentioned in our previous reports.
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