EUR/USD 1.21 Looks Like A Realistic Shorting Target

FTSE100 Reaches A Major Resistance Zone

While the U.S markets continue to run, the FTSE 100 index appears to be approaching its most immediate resistance zone, which could signal an opportune time for swing Traders to pounce.

Currently, the region between 6770 and 6850 appears to be an ideal turning point for the current trend, with a possible rebound taking places at the region between 6550 and 6450. This provides a good shorting opportunity for traders at least for the near-term future.

Additionally, the main support zone appears a few paces below, at about 6300, which again supports a possible trend reversal within the next few days.

Next Year Could Mark A Major Bull Run For Bitcoin

The new currency type Bitcoin took the market by storm last year when it rallied from a low of $200 to touch the $1000 mark. However, after a series of contingent events, the coin has now declined to trade at just about $380.

Now, it would be unrealistic to say that the problems facing the new currency are gone, but from the look of things, it appears as though the initial tension is beginning to cool down.

That will work positively for Bitcoin as more investors gain confidence in the currency in the coming years. Furthermore, Bitcoin is also one of the most widely traded instruments in the market and this can only boost its popularity.

The price of Bitcoin appears to be exiting the current declining wedge, which could be a good signal for a bullish breakout. The immediate resistance level is at $630, with the long-term target at $1000. Therefore, next year could be an interesting one for Bitcoin.

EUR/USD 1.21 Looks Like A Realistic Shorting Target

The EUR/USD appears well set for further decline in the coming months after ECB (European Central Bank) Vice President Vitor Constancio said that the bank will be able to gauge in the first quarter of next year whether it needs to start buying sovereign bonds.

This did not resonate very well with investors, as the EUR/USD dipped on Wednesday following the news. This also sets the Euro for a tough period through Q1 next year, which could see the currency slide further in the next few months.

Therefore, with the EUR/USD already trading low at about 1.24, there could be more declines that could see the currency pair touch 1.22-1.21 by February next year, which means the current downward trend is likely to continue through December and January.

NASDAQ 100 ETF (QQQ) Is Due A Short-Term Pullback

All the major U.S indices and ETFs have rallied over the last few weeks to record highs, and by the look of things, this rally could continue through the early parts of next year. The promise of the U.S economy has been a major factor for this rally, and the various stocks listed in the top indices have also delivered impressively.

However, with all this boom, investors will be looking to take some profits off around the holiday season, which could mark temporary pullback for the various ETFs and Indices. In focus, is the NASDAQ 100 ETF (QQQ), which has rallied to $105 per share.

However, with a crucial support at $100, the QQQ could soon drop towards that level before going on another rally that could take it above $110. In any case, that has been the rhythm for the majority of this year, and there is no reason why the same should not happen in the next few weeks.

Crude Oil WTI, $70 Seems To Be The Next Stop

It has been a massive plunge in Oil prices over the last few months as the USD continued to strengthen against major currencies.

The precious commodity has recently touched a new four-year low, trading well below $75, a level last reached in 2010. The current price level appears to be set for a further decline as the U.S economy continues to drive the dollar against major currencies

Currently, the next stop appears to be at around $70 per barrel, which will be the lowest level reached since the end of the global financial crises in 2009.

Conclusion

In general, the global markets appear to be carrying a bullish outlook as we run out 2014. The year 2015 in particular could see a resurgence of several markets, with the ECB plotting a quantitative easing (QE) program in Q1, while the U.S prepares to tick up the base interest rates.