Mohammed Abdulwadud Soubra / Profil

EUR/USD Intraday: the upside prevails.

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Pivot: 1.1015

Most Likely Scenario: long positions above 1.1015 with targets @ 1.1100 & 1.1140 in extension.

Alternative scenario: below 1.1015 look for further downside with 1.0990 & 1.0955 as targets.

Comment: the RSI is well directed.

GBP/USD Intraday: the upside prevails.





Pivot: 1.3950





Most Likely Scenario: long positions above 1.3950 with targets @ 1.4050 & 1.4120 in extension.





Alternative scenario: below 1.3950 look for further downside with 1.3900 & 1.3875 as targets.





Comment: the RSI is mixed to bullish.

Dollar Forecast

What was once a consistent and dominant advance for the US Dollar is now a consolidation and debate over fundamental value. The Greenback still stands at the most hawkish end of the monetary policy spectrum, but that premium may already be incorporated. Will risk trends or rate hikes revive the currency in Q4 or is a correction overdue?

Euro Forecast

A period of range for the Euro may soon come to an end as investors cast their focus on the European Central Bank's effort to buttress the region's economy and financial stability. With global headwinds increasing and the Fed backing off its hawkish stance, a countermove for more European stimulus may drive the currency to lows not seen in over a decade.

Yen Forecast

A wide gulf exists between the monetary policy programs in Japan and the United States, and that disparity may resolve USDJPY's congestion. As Japan struggles to reach its 2 percent inflation goal, the probability of an increase to the Bank of Japan's QQE program rises - and the incredible driver of three years of Yen cross appreciation may be revived.

Gold Forecast

Gold has made an unsteady attempt to retrace lost ground amid the Federal Reserve's confusion over its interest rate bearings. An aborted effort to hike rates in 2015 could give the metal a more significant foothold for bulls, but the central bank doesn't seem as discouraged as the market seems to presume they are.

Oil Forecast

Many outsiders to the oil market have been scratching their head as supply continues to outstrip demand. A quick view of production growth into falling prices seems to go against classic market dynamics. However, there's a very simple answer although it may not appear logical at first. Individual producers in the oil field are continuing to drill in order to meet individual debt repayments while subsequent loans are dependent on production.

Equities Forecast

The years of steady advance for global equities to multi-year – and in some cases, record – highs seemed to finally show signs of exhaustion this past year. Heading into 2016, shares may face more than just doubts about the level of lift ahead. Global growth, changes in monetary policy, emerging market troubles and China are prominent risks to sentiment moving forward.

Top Trading Opportunities in 2016

Fundamental and technical gears are changing heading into the New Year. The drive found in diverging monetary policy is waning in the aftermath of large market moves. Ahead, ties to general risk appetite and the contrast in variable speeds of growth look to generate heavy volatility and possibly large price swings. See where the DailyFX Analysts believe the top trades will be in 2016.

EUR/USD Intraday: key resistance at 1.1040.



Pivot: 1.1040

Most Likely Scenario: short positions below 1.1040 with targets @ 1.0990 & 1.0955 in extension.

Alternative scenario: above 1.1040 look for further upside with 1.1065 & 1.1100 as targets.

Comment: the RSI is mixed to bearish.

Gold spot Intraday: the bias remains bullish.



Pivot: 1220.00

Most Likely Scenario: long positions above 1220.00 with targets @ 1254.00 & 1264.00 in extension.

Alternative scenario: below 1220.00 look for further downside with 1207.00 & 1200.00 as targets.

Comment: the RSI is mixed to bullish.

Crude Oil (WTI) (J6) Intraday: bullish bias above 30.53.





Pivot: 30.53

Most Likely Scenario: long positions above 30.53 with targets @ 33.00 & 33.55 in extension.

Alternative scenario: below 30.53 look for further downside with 29.80 & 28.80 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

AUD/USD Intraday: under pressure.



Pivot: 0.7215

Most Likely Scenario: short positions below 0.7215 with targets @ 0.7140 & 0.7095 in extension.

Alternative scenario: above 0.7215 look for further upside with 0.7255 & 0.7275 as targets.

Comment: the RSI is mixed to bearish.