Festive Charts GBPUSD , USDCHF, EURGBP AUDUSD, AUDJPY,

GBPUSD DAILY 

                                                     

Possible bull Trap in the GBPUSD if 1.6440 is not broken

GBPUSD 4hrs 27/12/2013
 Move to the Upside @ Resistance 1.6549 and tries to break Out

USDCHF4hrs          

 volatility may bring the CHF back to the rising trend line for a continuation for the move up towards 0.9020

27/12/2013 updated break of the rising trend line allows for the down side to prevail bounce up into wave  4 then possible wave 5 decline towards 0.8782

EURGBP 4hrs        

A confirmed 3rd wave rally above 0.8388 and break out outside the Poseidon trigger line will increase gain in the Eurgbp towards 0.84665

27/12/2013 updated EURGBP

AUDUSD 4hrs        

Break above Monthly  resistance 0.8927 will cause a nice bounce in the overdue AUDUSD

AUDUSD 27122013 Updated 

AUDUSD Sideways  With possible upside corrective bias

US Session 27/12/2013 update Downside trend line triggered 

break of 0.8874 will confirm we are headed for possible further lows  0.8835 lows

AUDJPY4HRS   

If the YEN gains strength over the Christmas Period a wave iii Down after a failure to rise above 93.48 and a break below 92.63 will set up a test of the Lows @ 91.05 

      

AUDJPY 27122013 Updated Working out well with a small move up as predicted

Hope you had a Great Christmas!!! and Good Luck and have a  Happy New Year 

EUR/AUD

DAILY CHART ANALYSIS

The daily high held and respected the trend line setting up for two possible sell positions

• The first count has a possible sell to the first support structure at level 1.49373 to buy back up to retest the "DAILY" highs at level 1.55183.
• The alternative count: if the possible support structure is broken, then it may be looking to sell to lower support trend line at 1.4656 level to retest the structure level of 1.49373 to sell to the second support structure of 1.41387.

4HR CHART ANALYSIS

With the 4hr's forming a "HEAD&SHOULDERS", there's a possible buy up to the trend line at level 1.5492 for a sell down to test first level at 1.49373.

Usdcad Core Retail Sales

UsdCad

1. Core Retail Sales: Friday, 13:30. This indicator is considered the most important gauges of consumer spending. Core Retail Sales excludes automobile sales, which tend to be volatile and distort the release. The indicator has been weakening in recent readings, and posted an unimpressive figure of 0.0% in October, shy of the estimate of 0.2%. The estimate remains at 0.0% for the upcoming release.
2. Retail Sales: Friday, 13:30. Retail Sales posted a strong gain of 1.0%, a four-month high. This easily beat the estimate of 0.3%. The markets are anticipating another gain of 0.3% for the upcoming release.

USDCAD Hrly: 

EURUSD ELWAVE COUNT 1 HOUR

EURUSD ELWAVE  1 HOUR COUNT:

EURGBP 1hrly Elwave Count

EURGBP

EURUSD Christmas Week

EURUSD

T4x Outlook: : Long positions above 1.3624 with targets @ 1.36709 & 1.3810 in extension. above the Poseidon Medium line @ 1.3718 which would further increase the bullish view to challenge the highs @ 1.3815

T4x Substitute Outlook : Below 1.3625 look for further downside with 1.3525 & 1.3399 as targets.

T4x  opinion : the pair is facing a structural break @ 1.3708 back after a few days of sideways action.however we prefer to stay with the trend until 1.3424/1.3604 is broken 

EURCAD Trade OF the Day

Double Top identified 

Entry on the Pull back 1.45864-1.45793

Below 1.4574 Look for further down side 

T4X : Alternative above weekly pivot 1.4574 - 1.4595 look for a challenge of the double top @  1.4655

EURAUD and EURCAD

Daily             

4hr EURCAD

EURCAD Todays Trade

T4X Outlook: Short below 1.4619  support look for 1.4527

T4X: Substitute Outlook:  Long above 1.4619 , expect 1.4674  and 1.4696

Comment: Possible 4hr Market top on stochastic 

The Westpac Consumer Confidence 23.00                                             1.9%                    23.00

EUR/AUD

The Westpac Consumer Confidence 23.00                                             1.9%    23.00

The recent stabilization in AUDUSD is sending mixed signals as to whether it is a false rebound or the beginning of a slow consolidation. The RBA’s verbal attack on the Aussie has been instrumental in the decline of the last 4 weeks, but the central bank cannot continue to resort to verbal intervention alone when Aussie macro figures have shown bright spots in retail sales and building approvals. There is a difference between a currency being stubbornly strong with ample room on the downside and a currency down 8% with no prospects of rate cuts in the foreseeable future. 

T4X Currency Outlook

GBPUSD: Sideways 

T4X Outlook: Long positions above 1.6367 with targets @ 1.6414 & 1.644 in extension.
T4X: Substitute Outlook: Below 1.6342 look for further downside with 1.6292 & 1.6266 as targets.

T4X Opinion: the pair stands above its support as the RSI is supported by a rising trend line.


Audusd

T4X Outlook: Long positions above 0.9086  targets @ 0.9115 & 0.91.32 in extension.
T4X: Substitute Outlook: Below 0.9068  look for further downside with 0.9004 & 0.8980 as targets.

T4X Opinion: the pair stands below its weekly pivot @ 0.6086 RSI is  weak below 50 

USDCAD 4HR  

CA CAD Housing Starts s.a (YoY) (Nov) 2 192.2K 194.5K 198.2K

1HRLY 

         

                           AUDJPY


                                         Our preference: Long positions above 93.27 with targets @ 94.51 & 94.75 in extension.

                                          Alternative scenario: Below 93.27 look for further downside with 92.39 & 90.6 as targets.

                                          Comment: investors have to remain cautious since these levels may trigger profit taking.

Gold Daily

old was little changed but still ready to post a weekly slide early Friday, with all eyes focused on the upcoming release of US non-farm payrolls (NFP) data for November.

The most hectic day of the week has finally came to bring first-tier data from the world`s largest economy; NFP number, due to be released later Friday, offering bullion junkies the key that might unlock the doors on a possibly looming reduction of monetary stimulus by the Federal Reserve in its next meeting this month, which markets have been pricing in the past few months amid improving US economic data.

Spot Gold was up 0.53% at $1,231.85 an ounce as of 02:30 a.m. EST, compared with yesterday`s close at $1,225.23.

November NFP release from the US Labor Department is the most important release at the end of the year, as the Fed linked a tapering of its bullion-friendly stimulus to tangible rally in labor market, and so far, the jobs front had offered a quite relieving tone for the fourth quarter of the this year, which might relax the Fed to start reducing its $85 billion of monthly bond purchases.

Unfortunately, Fed Chief Ben S. Bernanke is not totally convinced to slow quantitative easing program following the strong October jobs report, even after recent data showed the economy added an average of 200 thousand jobs each in the last three months.

At 08:30 a.m. EST, the US employment report may show that economy added 185 thousand jobs to NFP in November, compared with October`s strong increase of 204 thousand. Correspondingly, the unemployment rate probably fell to 7.2% last month, a five-year low according to records.

Any NFP surprise will no doubt boost the case for stimulus tapering as early as this month. However, a soft report will most likely offset bets of December tapering into 2014.

Will US payrolls bolster the case for the Fed to start scaling back its quantitative easing? We`ll find out today! The upcoming trigger for the yellow metal is on the way!

Todays Trades EURCAD, EURGBP, USDCHF 02/12/2013

EUR/CAD

EUR/GBP

USD/CHF