Max McKegg                                                      

27th Year as an FX Professional

A “Big Picture” assessment of the major crosses is shown below. My daily FX forecasting service provides short term updates and trading recommendations on each. If you would like a 3 week trial of the service contact me by email at TRL@clear.net.nz

December 3rd, 2012

EUR/USD – “Big Picture” Outlook:

Despite the Bearish News that has besieged the Euro through much of 2012, it is possible to interpret this year’s entire price action as a developing Inverse Head and Shoulders Reversal formation, with a sustained rally above 1.3065/1.3090 (being “Neckline” resistance) establishing an Upside projection toward the 1.4300 level over coming months.

USD/JPY – “Big Picture” Outlook:

The Dollar continues to display a potential Inverse Head and Shoulders Bottoming formation dating back to March of 2011. A sustained rally above Neckline Resistance at 83.10 will establish an Upside projection toward the 92.50 level over coming months.

GBP/USD – “Big Picture” Outlook:

Sterling continues to trade within broad, contracting 1.7040 - 1.4235 Triangle consolidation that has persisted since August of 2009. Only a resolution to this pattern heralds the next broad Trend move in Sterling.

USD/CHF – “Big Picture” Outlook:

Since peaking at .9970 in late July of this year, the Dollar is displaying a potential  Head and Shoulders Reversal formation, with a sustained sell-off below .9115 (Neckline Support) establishing a Downside projection toward the .8500 level over coming months.

AUD/USD – “Big Picture” Outlook:

The Ozzy continues to trade within broad, contracting 1.1080 - .9390 Triangle consolidation that has persisted since July of 2011. Only a resolution to this pattern heralds the next significant Trend move.

NZD/USD – “Big Picture” Outlook:

The Kiwi continues to trade within broad, contracting .8840 - .7370 Triangle consolidation that has persisted since August of 2011. Only a resolution to this pattern heralds the next significant Trend move.

GOLD – “Big Picture” Outlook:

Gold’s corrective consolidation from $1,803 - $1,522 dates back to October of 2011 and I am expecting this to give-way to the resumption of Uptrend toward the $2,060 level; enroute to Mathematical Targets at $2,305 and $2,560 over the coming months.

Disclaimer: Max McKegg & Technical Research Ltd accept no liability  whatsoever for any loss or

damage that may result, directly or indirectly, from any forecast, comment or opinion, information or omission, whether negligent or otherwise, within this report.