Technical Analysis: Currency pairs – Nov 13
Technical Analysis for November 13, 2014
EUR/USD
The last movement from the market was holding the price around 1.242, Currently EUR/USD still moving sideways at 1.24 – 1.25 level. The last movement from the market can’t break 1.251 resistance line for an upward move to the pair even higher. A break will bring the price even higher. 1.239 is the first downward resistance and a break under 1.238 will send the price even lower.
EUR/GBP
Currently the market has broken the 0.776 line and the next upside target will be 0.796. No further movement is expected but a break under 0.78 will send the price even lower, so correction still possible after the volatility yesterday.
EUR/JPY
EUR/JPY has reached the 143.5 target and the next resistance will be around 144.00 area and long term uptrend seems to be quite risky and the market might just change its direction without any warning. A movement under 141.50 will break the long term uptrend.
EUR/CHF
Currently the prices have made another low and further downwards are expected to be difficult. Market still moving sideways around 1.205 – 1.202 level in short term and no big movement are expected in short term. A break under 1.2 will show a bearish engulfing candle and a break from 1.205 level will bring the price even higher.
GBP/USD
Long term downtrend is intact and the last bear movement from the market has convinced even more bear market in the future, so rebound from the last bear movement still expected in short term. The next movement will target the 1.5725 level. And a break after 1.587 level will bring the market even higher.
USD/JPY
No change in the uptrend for USD/JPY pair. The last movement touched 116 and the next movement will target 117 level. Given the higher volatility, the next resistance for the upside movement will be seen around 117 level and the resistance for the downward movement will be seen around 115 level. A break under 115 level will bring the price back to 114 level. Market will be moving around 115-116 level before major change.
USD/CAD
USD/CAD has broken the 1.13 line and a downward movement will be expected in short term. A retracement to 1.14 level will bring back the bull market and send the price even higher but a bear movement under 1.126 will target 1.12 later.
USD/CHF
A break from 0.969 level will target 0.976 next and a bear movement under 0.961 will send the price to a deep fall. No major change is expected in short term, long term uptrend movement still intact.
AUD/USD
The last resistance line at 0.87 level has been broken and it will target 0.8765 next. A retracement to 0.866 level will bring the market to sideways and a break under 0.86 will send the price even lower.
NZD/USD
The last resistance line has been broken and the next target will be 0.795. A break over 0.7965 will send the price even higher but a danger for rebounce still expected in short term. Break under 0.7775 level will send the pair even lower and target the 0.77 level.
Trading Events (GMT) :
- 12:50 AM (JPY) Core Machinery Orders
- 12:50 AM (JPY) PPI
- 01:00 AM (AUD) MI Inflation Expectations
- 01:01 AM (GBP) RICS House Price Balance
- 02:30 AM (AUD) RBA Assist Gov Kent Speaks
- 05:30 AM (JPY) Revised Industrial Production
- 06:30 AM (CNY) Industrial Production
- 06:30 AM (CNY) Fixed Asset Investment
- 06:30 AM (CNY) Retail Sales
- 08:00 AM (EUR) German Final CPI
- 08:45 AM (EUR) French CPI
- 09:15 AM (CHF) PPI
- 10:00 AM (EUR) ECB Monthly Bulletin
- 02:30 PM (CAD) NHPI
- 02:30 PM (USD) Unemployment Claims
- 04:00 PM (USD) Jolts Job Openings
- 04:30 PM (CAD) BOC Review
- 05:00 PM (USD) Crude Oil Inventories
- 07:01 PM (USD) 30y Bond Auction
- 08:00 PM (USD) Federal Budget Balance
- 09:05 ON (CAD) Gov Council Member Wilkins Speaks
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