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Trade Idea Wrap-up: USD/CHF - Hold long entered at 0.9635

Current sharp retreat after meeting resistance at 0.9671 suggests caution on our long position entered at 0.9635 and 0.9595-00 support needs to hold to retain prospect of another rebound, above said resistance would bring test of resistance at 0.9698 but break there is needed to signal the retreat

Trade Idea Wrap-up: GBP/USD - Sell at 1.5720

Current break of indicated support at 1.5649 adds credence to our view that early rebound from 1.5590 has ended at 1.5826 yesterday and bearishness remains for test of support at 1.5626, then towards said support at 1.5590, however, break of latter level is needed to confirm recent decline

Trade Idea Wrap-up: EUR/USD - Hold long entered at 1.2445

As the single currency has rebounded after holding above indicated level at 1.2425 (61.8% Fibonacci retracement of 1.2359-1.2532), retaining our bullishness and above 1.2500 would signal pullback from 1.2532 has ended and bring further rise this resistance, then 1.2550-55 but as broad outlook remains consolidative, reckon upside would

Trade Idea Wrap-up: USD/JPY - Buy at 117.90

The greenback has surged again after brief pullback to the Tenkan-Sen, adding credence to our view that the correction from 118.98 (last week's high) has ended at 117.24 yesterday and break of resistance at 118.58 would provide confirmation and bring retest of said resistance at 118.98, once this

US Session: Orders and Options Watch
EUR: The single currency found good support at 1.2429 and has rebounded in part due to cross-buying in euro, offers and stops at 1.2480 were tripped, however, sell orders are still noted at 1.2500, 1.2515 and 1.2530-40 (stops above 1.2540), selling interest is seen at 1.2575-80 and 1.2600 with more

Trade Idea: EUR/GBP - Stand aside

Although the single currency has rebounded again after holding above support at 0.7897 (this week's low) and consolidation with mild upside bias is seen for recovery towards 0.7990-00, a firm break above 0.8000-05 is needed to signal the pullback from 0.8039 has ended and bring retest of this

Trade Idea: USD/CAD - Buy at 1.1335

As the greenback has finally rebounded after holding above yesterday's low at 1.1228 and broke above indicated resistance at 1.1402, suggesting the pullback from 1.1467 has ended and this move has revived our bullishness for early upmove to resume after consolidation, bring retest of said resistance, however, break

EUR/USD Mid-Day Outlook
Intraday bias in EUR/USD remains neutral for the moment. More consolidation could be seen. But with 1.2613 resistance intact, deeper decline is expected. Below 1.2357 will target 61.8% projection of 1.3700 to 1.2500 from 1.2886 at 1.2144. However, break of 1.2613 will indicate short term bottoming with bullish convergence condition

GBP/USD Mid-Day Outlook
Intraday bias in GBP/USD remains neutral for the moment. Corrective recovery from 1.5589 short term bottom might extend to 55 days EMA (now at 1.6004). But we'd expect strong resistance from 38.2% retracement of 1.7190 to 1.5589 at 1.6201 to limit upside. Break of 1.5589 will extend the decline from 1.7190.

USD/CHF Mid-Day Outlook
Intraday bias in USD/CHF remains neutral for the moment. The consolidation from 0.9741 might still extend. Below 0.9529 will bring deeper pull back. But in that case, we'd expect strong support from 0.9359 cluster support (38.2% retracement of 0.8702 to 0.9741 at 0.9344) to bring rebound. On the upside, break

USD/JPY Mid-Day Outlook
Further rise could be seen in USD/JPY and above 118.97 will extend recent up trend. But again, the pair is close to 120 key cluster level around 120. That includes 161.8% projection of 101.08 to 110.08 from 105.19 at 119.75 and long term fibonacci level at 120.13. Also, bearish divergence

Trade Idea Update: USD/CHF - Hold long entered at 0.9635

Current sharp retreat after meeting resistance at 0.9671 suggests caution on our long position entered at 0.9635 and 0.9595-00 support needs to hold to retain prospect of another rebound, above said resistance would bring test of resistance at 0.9698 but break there is needed to signal the retreat

USD/CAD Mid-Day Outlook
USD/CAD's strong rebound today and break of 1.1369 minor resistance suggests that pull back from 1.1466 has completed at 1.1191 already. Intraday bias is back on the upside for 1.1466 first. Break will resume recent up trend to next long term fibonacci level at 1.1666. More consolidation below 1.1466 cannot

Mid-Day Report: CAD Tumbles Sharply as WTI Broke 70
Canadian dollar weakens broadly today, tracking the biggest weekly drop in WTI crude oil since 2011. The plunge in crude oil followed OPEC's meeting in Vienna. OPEC members confirmed to maintain production at 30M bpd, at least 1 million above OPEC's own estimates of demand for its oil next year.

Trade Idea Update: GBP/USD - Sell at 1.5735

The British pound has fallen again after brief recovery, suggesting the fall from 1.5826 top is still in progress and may extend weakness to 1.5649 support, however, break of support at 1.5626 is needed to signal the rebound from recent low at 1.5590 low has ended at 1.5826

Mid-Day Report: CAD Tumbles Sharply as WTI Broke 70
Canadian dollar weakens broadly today, tracking the biggest weekly drop in WTI crude oil since 2011. The plunge in crude oil followed OPEC's meeting in Vienna. OPEC members confirmed to maintain production at 30M bpd, at least 1 million above OPEC's own estimates of demand for its oil next year.

Trade Idea Update: EUR/USD - Hold long entered at 1.2445

As the single currency has rebounded after holding above indicated level at 1.2425 (61.8% Fibonacci retracement of 1.2359-1.2532), retaining our bullishness and above 1.2500 would signal pullback from 1.2532 has ended and bring further rise this resistance, then 1.2550-55 but as broad outlook remains consolidative, reckon upside would

Trade Idea Update: USD/JPY - Buy at 117.85

The greenback found renewed buying interest at 117.24 and has rallied, suggesting the correction from 118.98 (last week's high) has ended there and consolidation with upside bias remains for gain to resistance at 118.58, break there would provide confirmation and bring retest of said resistance at 118.98, once

We Expect Euro Inflation to Decline to 0.1% in December
Euro inflation declined back to 0.3% y/y in November after it was 0.4% y/y in October. The latest decline in oil prices implies, we currently expect inflation to decline to 0.1% y/y in December. Hence, it is very close to the deflation limit and the pressure on the ECB continues

USDRUB: Will the Russian Authorities Intervene?
The Ruble has been the worst performing currency in the expanded majors' space this week, falling more than 5% versus the USD and the EUR. If you thought things were bad for the RUB on the back of the Western sanctions, yesterday's news that Opec would not cut its oil

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