The Euro area recorded lows of 1.2620, after stops were observed at 1.2700. Highs in the 1.2713 area, and there was some pressure from CTA accounts. The improvement of the stock market last week, is lagging behind, while the USD / JPY remains under pressure, the pair recorded in the area minimum of 93.51, breaking on 93.70. USD / CHF can not stay in the 1.2200 area, maximum recorded in the area of 1.2156. USD / CAD remains within a technical trade in the 1.2420/30 area, maximum recorded in the area of 1.2478, and 1.2359 at the minimum. An estimated two short-term action in that pair. USD / CAD pair is the technique most likely to suffer a reversal, in my view, forming a double-top figure. In my opinion, since starting the season for holiday sales, we believe that increased trade is approaching double action, and can they happen reversals.
Probably the USD is strong year-end, and will surely be on the rise during the first months of the new American presidential term. In my opinion, the financial crisis is artificially keeping the USD rise. It is estimated that the dollar will continue trading at night in a double sense, especially during morning. GBP / USD Resistance 3: 1.5680 Resistance 2: 1.5620 Resistance 1: 1.5550 New York: 1.4976 Support 1: 1.4700/10 Support 2: 1.4650 Support 3: 1.4550 The pair started in low, after which consolidated earnings last week. There were offers of sovereign states.
The level of support failed at the 1.5050 area. There was a strong trade in dual action. He kept control over the 1.5100 sales, but it will be prudent to wait a bit. If the pair continues to strengthen several traders take profits. At night there was a technical trade as traders defined strategies. Surely the BCI will reduce interest rates, but that factor is already assimilated. Liquidity was moderate. For Tuesday: All times EASTERN (-5 GMT) 4:30 a.m. 7:01 pm GBP Construction PMI GBP Nationwide Consumer Confidence EURO / USD Resistance 3: 1.3200 Resistance 2: 1.3120/30 Resistance 1: 1.3100 New York: 1.2631 Support 1: 1.2600 / 10 Support 2: 1.2550 Support 3: 1.2480 Comments may be that the couple suffers a reversal, but the pair should be firm in my view 1.2850. Bids are being placed in the 1.2600 as estimated. It is advisable to go long. Stops are being placed on the 1.2750, which will boost trade in two sense. I do not think that the pair continue falling. Several traders are taking profits despite the prevailing uncertainty. For Tuesday: All times EASTERN (-5 GMT) 5:00 a.m. EUR PPI m / m foreign currency trading (FOREX) involves the existence of losses due to the risk inherent in any transaction. It is likely that FOREX trading is not suitable for all investors. You should determine whether trading is suitable in your case and should take into account your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. The opinions, financial information or on markets, and recommendations are subject to change at any time. The information contained in this bulletin does not constitute or states that you should buy or sell through FOREX Core Financial Group Inc., and / or its affiliates, and should not be available to individuals in a jurisdiction where the making available of the above would be contrary to local regulations.