Technical Analysis: Currency pairs – Nov 14
Technical Analysis for November 14, 2014
EUR/USD pair still moving sideways and a break to this triangle chart pattern will be soon. A break higher than 1.252 will bring a heavy buy and a break under 1.24 level will target 1.236 next and send the price to a new lower level.
EUR/GBP A break over the 0.785 has been confirmed and now the EUR/GBP pair is moving around 0.792 level. A break over the last resistance will target 0.7980 next and a break under 0.78 level will resume the downtrend for EUR/GBP pair.
EUR/JPY has breached the 144 level and a break over 144.7 level will target 145 next. The long term uptrend chart still intact and a break under 143 level will change the trend to sideways short term. If it breaks 143 then 141.5 will be the next support level.
EUR/CHF A break under 1.2 level will bring the market to an even deeper fall and currently the EUR/CHF has breached 1.202 level. A break to a higher level over 1.203 will target 1.205 next.
GBP/USD Market is resuming the downtrend in the GBP pair and 1.5725 level has been breached. 1.568 level will be the next target but a break higher than 1.58 will target 1.583 next. Long term downtrend is very strong, bearish.
USD/JPY pair still trading at a high level above 115 and 116 will be the next resistance. A break over 116 level will target 117 next and a break lower 114 level will target 113.4 next. Long term uptrend remains intact for now.
USD/CAD has broken the 1.13 line and remain in sideways around 1.128 – 1.13 8 level. A pullback 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 under 0.961 will send the price to a deep fall, targeting 0.956 next. A break higher to 0.966 level will bring back the pair for the uptrend and will target 0.973 next. No major changes are expected in short term, long term uptrend movement still intact.
AUD/USD will target 0.8765 next and a break over that will target 0.88 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 next upside target is 0.795 and 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) :
07:30 AM (EUR) French Prelim GDP
08:00 AM (EUR) German Prelim GDP
08:45 AM (EUR) French Prelim Non-Farm Payrolls
10:00 AM (EUR) Italian Prelom GDP
10:30 AM (EUR) Construction Output
11:00 AM (EUR) Final CPI
11:00 AM (EUR) Flash GDP
11:00 AM (EUR) Final Core CPI
02:30 PM (CAD) Manufacturing Sales
02:30 PM (USD) Core Retail Sales
02:30 PM (USD) Retail Sales
02:30 PM (USD) Import Prices
03:55 PM (USD) Prelim UoM Consumer Sentiment
03:55 PM (USD) Prelim UoM Inflation Expectations
04:00 PM (USD) Business Inventories
04:00 PM (USD) Mortage Deliquencies
04:30 PM (USD) Natural Gas Storage
10:00 PM (USD) FOMC Member Fischer Speaks
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