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AUD/USD and EUR/USD Forecast 3 Dec 12

AUD/USD and EUR/USD Forecast 3 Dec 12
Sunday, December 2nd, 2012 @ 3:55 pm by The Geek

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TheGeekKnows.com  Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders and forex koalas.

In the previous forecasts we note various conditions of bearish and bullish moves. For readers who want to do a quick judgement and say ” this geek cannot predict nothing! ” I would like to clarify. Firstly this website is never about crystal balling the next move. I started this because as a newcomer to forex previously, I learned things the hard way. No one though me what forex gaps are or what risk aversion is all about. Hence my articles are all geared towards the understanding of the markets. You make your own decision after knowing the market. Secondly why are we alternating between bears and bulls? There is a perfect fundamental reason for this. Hence understanding is important. The Euro Zone remains very much a hostage to the budget deficit crisis. Any positivity from the economic region can only be sustained if the crisis is gone for good. Something that my readers vote by a majority on the front page that it will happen possibly beyond 2015.

Technical Analysis

20121202-193330.jpg

Looking at the AUD/USD daily chart above we note that the week gave bullish traders some hope but the currency pair remained tied to the 1.0430 region as we observe a close of the trading week in that region. The upper resistance seems to be around 1.0470 and from a technical point of view we cannot deny bullish inclination but of course fundamental reasons must be considered.

20121202-194028.jpg

Looking at the EUR/USD daily chart above we note a bullish momentum too although the obvious difference compared to the AUD/USD chart earlier brings the case for diversification. Anyway the main resistance in consideration here is 1.3. If the currency pair manages to breech this region, we may be looking at 1.3120 next.

Don’t miss the fundamental analysis,

continue on to TheGeekKnows.com for the fundamental analysis to understand more about the underlying market sentiments.

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