Weekly Market Commentary: December 5th 2016

EURUSD – EURUSD contained under 1.0690 short term resistance.The short term trend remains bearish whilst price is below 1.0690, look to sell on strength.dec-05-eurusd

GBPUSD – Pound shoots higher after inside bar setup on the daily time frame. The bias remains bullish above 1.2330 support, look to buy on weakness.

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AUDUSD – AUDUSD has sold off after testing 0.7490-0.7505 resistance area. The bias remains bearish whilst below 0.7505, look to sell on strength.

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GOLD – Gold approaches major long term support at the 1140 area. Look to be a potential buyer around 1140 is we see a price action signal confirmation.

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US500 – US500 Index remains in a strong upward trend, with nearby support at 2146 and major support at 2107. As is the theme in recent months, any short term pull back in prices within the context of this strong bull market could be a buying opportunity. The trend remains bullish above 2146, look to buy on weakness.

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