Happy Holidays & See Ya' in 2010.

Hello, I have closed all positions for the year and I don't foresee myself trading till the 2nd week of Jan 10.

So, see you later and be careful of your positions leading up to Xmas and the New Year.

Away

My apologies for not posting any analysis for the week as I was away over the week and just got back. I will be back next weekend but as the holiday is drawing nearer, we may see thinning volume in time to come.

Analysis for EURUSD 7 – 11 Dec

Previous Week (23 – 27 Nov)

O: 1.4868 H: 1.5143 L: 1.4827 C: 1.4967

Last Week (30 Nov – 4 Dec)

O: 1.4998 H: 1.5141 L: 1.4821 C: 1.4844

Weekly

Daily

Hourly

Expected for this week:

• We saw a double top on the weekly at 1.5143 (high 1.5141)
• However, the daily closed as a bullish doji so the signals were mixed.
• The following day saw a huge downclose as the fundamentals were very favorable for the USD.

Scenario 1

This pair is currently oversold on the hourly chart and we may expect to see the 1.49 for the week.

If 1.5019 offers a good resistance, look for 1.4955 and possibly 1.4815.

Scenario 2

If the week opens below 1.4815, we may see 1.46 levels for the week.

Resistance: 1.5215, 1.5144, 1.5120, 1.5079, 1.5039, 1.5019

Support: 1.4981, 1.4943, 1.4896, 1.4821, 1.4815, 1.4727

Weekly Fibo:

1.5143 00.00

1.4813 23.6

1.4613 38.2

1.4447 50.0

1.4280 61.8

1.3747 100.0

Fundamentals:

Mon – EUR/NY Tue – Italy Closed Thu – NY Fri - NY