INVESTORS RESUMES BID ON THE DOLLAR

Over the week, our account saw 117 pips rise in the overall positions held for the week based on the picks by our Technical strategies and experts

Breakdown of position taken: 

Symbol	Pips
GOLD	300
GBP/USD	-139
USD/CAD	-82
NZD/USD	-196
TOTAL	117

INVESTORS RESUMES BID ON THE DOLLAR

Investor’s change in sentiment bidding up the Dollar late last week, we could see resumption in the uptrend trend on the dollar. After pulling back to test the resistance turned support at 83.02 with Doji formation, the Dollar index encountered rally up supported by the uncertainty rocking the European economy and unfavorable quarterly results from US companies. With the financial crisis not near to being finally solved, risky assets saw massive selloff.

Technically, Dollar index which measures the cumulative summary of baskets of major dollar crosses would in the week ahead probably see uptrend resumption. A break above 83.95 resistances would see the index heavily bidding up.

Technical Outlook for July 2012

Below, technical overviews and analysis for key currency pairs and commodities based on market activity at the end of today's U.S. session as at July 20^th 2012. This information is a comprehensive summary derived from simple and exponential moving averages along with key technical indicators and significant price levels shown for specific time intervals.

Symbol	Type	Hourly	4 Hours	Daily	Weekly	Monthly
EUR/USD 1.2158	Bullbear Indicator:	Strongly Sell	Strongly Sell	Strongly Sell	Strongly Sell	Strongly Sell
GBP/USD 1.5619	Bullbear Indicator:	Strongly Sell	Neutral	Neutral	Sell	Sell
EUR/JPY 95.41	Bullbear Indicator:	Strongly Sell	Strongly Sell	Strongly Sell	Strongly Sell	Strongly Sell
USD/CAD 1.0127	Bullbear Indicator:	Buy	Neutral	Neutral	Neutral	Neutral
Gold 1583.60	Bullbear Indicator:	Buy	Neutral	Neutral	Neutral	Buy

The above recommendations were based on our in-house analysis approach.

DISCLAIMER

Bullbear Trading house or anyone involved with Bullbear Trading house will not accept any liability for any trading loss or damage as a result of reliance on the information contained within this email including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

OUR PICK FOR THE WEEK

Our team of experts has pi instruments for forecast into next week. The method and strategy for considering and picking them are based on Technical analysis with full consideration of current fundamental outlook. 

Technical tools adopted for selection purpose has been tested and use by our in-house trading unit. Pivot point analysis, Fibonacci analysis, candle formation, chart and price patterns with other dynamic support and resistance determination tools.

On each chart the following would be clearly stated:

·         Exact Entry point

·         Stoploss and Targets

·         Risk and money management calculation

USD/CAD

The week closed above the 50% Fibonacci retracement level of the prevailing primary trend 1.0445 – 09799. With a daily engulf pattern above the 1.0121 fib level and Support level 1.0100 making a confluence of zone. Our pick forecast picks a buy at 1.0130 with stoploss placed at 1.0050, target levels at 1.0250 and 1.0400. A break below 1.0050 would see a complete reversal of the uptrend to 0.9800. 

Risk/Money management:

We recommend you place 2 half lot sizes of a supposedly full lot, close half at the first target and let the rest run.