December 5th 2011

It is the day the Doctors strike officially begins but for us its a different ball game.I believe it is at this time of the year that we will start to feel liquidity begin to reduce as most fund managers close for the festive season.However,I have some price action trades I will be focused on this week.The Euro/Usd which is still grappling under plenty a problem formed a major bearish candle last week and in my opinion seems to be headed even further lower unless some unexpected short term news comes out again.

Usd/Cad has a major bullish candle off the daily charts from a good support line which may hold for a while.This is a bullish looking signal for the next level 1.0250 that will act as a major resistance to the pair.

The Yen pairs have formed a bearish pin on the daily time frames which may be a catalysts for bearish price action.Gbp/jpy has moved lower from the 38% fib level from the most recent highs and lows and stuck in between the 20 and 50 day moving average.The Euro/Jpy has moved off the 50 day moving average and the seems to be headed lower if it moves past the 20 day moving average.

I will continue to update this week with more chart.Good luck to all and make sure you do your own analysis.