Technical Analysis: Currency pairs – Nov 17
Technical Analysis for November 17, 2014
EUR/USD As the weekend shows us a break over 1.252, a short term bullish movement is expected in EUR/USD and it would target 1.256 next. A break over 1.256 will target 1.26 next too but a rebound risk will turn the price to 1.244.
EUR/GBP As the market is moving around 0.792 level, the next target would be 0.805 but short term no big movement expected in here. A rebounce will push the price back to 0.788 level. A risk for reversal is very high now.
EUR/JPY has crossed the 145 line and currently in 145.48. This pair will target 146 next and a break under 144 will target 143.5 next. A reversal risk is very high due to the last volatility in the market.
EUR/CHF A break under 1.2 level will bring the market to an even deeper fall and currently the EUR/CHF has breached 1.2012 level. A break to a higher level over 1.203 will target 1.205 next.
GBP/USD Although market has retraced a lot of their movement, long term downtrend in GBP/USD still intact and there are no bear sign at the current moment. A higher break to 1.57 will target 1.576 next and a break under 1.56 will reach the new low.
USD/JPY pair has broken the 116 line and long term uptrend still intact. The next target would be the 117 line and a reversal to 115.5 will target 114.8 next, so long term uptrend still intact, bullish.
USD/CAD has broken the 1.13 line and remain in sideways around 1.128 – 1.138 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/CAD still finding difficulties to break 1.128 level right now.
USD/CHF A sudden deep fall in the market like this has broken 0.96 line. A reversal to 0.963 will target 0.967 next and a lower movement to the downside will target 0.955 next. Market will keep moving around 0.958 – 0.965 range for now.
AUD/USD find difficulties at the last movement from Friday to break over 0.8765 line. This movement will target 0.88 next and a reversal risk to the downside will target 0.866 next. AUD/USD will be trading around 0.8775 – 0.8665 next.
NZD/USD The next target to the upside 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 0.78 level will send the pair even lower and target the 0.773 level.
Trading Events (GMT) :
12:01 AM (GBP) Rightmove HPI
12:30 AM (AUD) New Motor Vehicle Sales
09:00 AM (EUR) Italian Trade Balance
10:00 AM (EUR) Trade Balance
11:00 AM (EUR) German Buba Monthly Report
01:30 PM (CAD) Foreign Securities Purchases
01:30 PM (USD) Empire State Manufacturing Index
02:00 PM (EUR) ECB President Draghi Speaks
02:15 PM (USD) Capacity Utilization Rate
02:15 PM (USD) Industrial Production
11:00 PM (AUD) CB Leading Index
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