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Uncertainty to Loom as Fiscal Deadline Approaches – Dec 28

December 28, 2012

LATE UPDATE………..
GMT 9:01 (Subscriber) view abut euro same or chaNge?
GMT 10:11 = Euro @ 1.3185 = View is unchanged, the fall could extend to around 1.3150-60 before recovering to test 1.3220-30 zones.
Yen @ 86.12 = made a mild correction now loking good for tes another test of 86.40-50 znoes. 85.70 is the next level to watch
But STOPs is prefered……….
GMT 12:34 (Subscriber) should buy gold if 57 see with sl 51
GMT 13:17 = GBP @ 1.6137 = book your profit around 1.6137-42
GMT 13:57 = AUD @ 1.0392 = If long take profit around 1.0392-97……..Cheers
GMT 14:19 = EURO @ 1.3212 = Do not see move beyond 1.3240 tonight. could retest 1.3170-80 zones
GMT 2:38 = EURO @ 1.3235 = Sell Stops 1.3270
GMT 2:41 = GBP @ 1.6143 = Sell sround 1.6143-49 STOPS if 1.6175
GMT 15:02 = GOLD @ $ 1657 .50 = book your profit around $ 1656-57.50………Cheers
GMT 15:03 = OK Pals, end of another excellent day…….
Have a nice weekend………..Cheers

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GMT 3:20 – EURO @ 1.3243 = Today being the last day of the week and the meting on fiscal cliff to take place in the late hours of Friday in a last ditch effort to reach an understanding suggest that trading activity will remain thin and nervousness will prevail, as market has no clue about the mood of congressional leaders.
There are some reports hinting that Obama may come up with new offer as Senate is going to vote on Sunday. So far reading all the developments that is taking place there could be two possibilities. Either talks could be extended beyond the expiry date, or talks could fail. Going over the cliff without reaching to terms certainly point towards recession.
Meanwhile, Japanese currency continued its one-sided journey, hitting my final target 86.50 this morning after mixed batch of economic data with manufacturing PMI and industrial production showing no major economic gains. But I will refrain from selling JPY and would rather prefer to wait to pick the bottom and sell US Dollar, though this may look a very risky proposition.
But be prepared for choppy and volatile moves that was witnessed in US session last night.
EURO @ 1.3243 = Prefer buying on dip around 1.3210 zones, with STOPS 1.3170, as break of 1.3270 will encourage for 1.3294
GMT 3:44 – AUD 1.0379 = abias on the upside as 1.0340-50 levels should hold for 1.0405.
GMT 3:40 – JPY @ 86.40 = Though this rally can stretch up to 86.80-90 zones,as long as 86.10 holds, but I will refrain from selling Japanese currency that needs to fall below 85.20 for bigger correction.
GMT 3:34 – GOLD @ $ 1664 = Likely to find TOP around $ 1666-68 levels in ASIA or early EUROPE for $ 1656, but could bounce back unless $ 1652 breaks. However, on the upside move beyond $ 1669 will encourage for $ 1674
GMT 3:26 – GBP @ 1.6110 = Cable has protection at 1.6040 and could bounce back from 1.6080-90 zones, but 1.6160-70 should be tough to crack

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