Technical Analysis for November 18, 2014

EUR/USD has broken over the 1.256 line and hold on 1.2575 line. It attempts to break up but eventually failed and bounced back to the Friday’s level around 1.245. A new attempt move to the higher level around 1.253 will bring back the bull market but a lower attempt to 1.24 level will target 1.235 next.

EUR/GBP has pushed the price to 0.8 level but it failed to pass the 0.805 line. Short term rebound will be expected and a downside movement under 0.793 will target 0.788 next and a climb higher than 0.805 will target 0.81 next.

EUR/JPY has crossed the 146 line and rebounded to 145 level. EUR/JPY will trading sideways around 144.5 – 145.5 level in short term, a break over 145.5 will retest the 146 level and a break under 144.5 will target 143.8 next.

EUR/CHF has been trading around 1.2 – 1.202 level today. 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 GBP/USD has broken the 1.57 level, it has retraced most of their advance from Friday and back to 1.564 level again. A break to 1.562 will bring a new lower leg but a retracement to 1.57 will retest to break 1.574 level.

USD/JPY pair has gone down to 115.5 level but it can’t break the support level. A break over this level will bring the price to 114.8 but a break over 116.6 will target 117 next.

USD/CAD has broken the 1.13 line again 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 Market will keep moving around 0.958 – 0.965 range for now. But the current trend poses a very high chance to break 0.965 level. A break over that level will bring price stability around 0.965 and it will target 0.97 next. A lower leg under 0.96 will target 0.955 next.

AUD/USD still trading around 0.8775 – 0.8665 level. A lower leg under 0.8665 will target 0.86 level next. A break higher than 0.877 will bring back bullishness in AUD/USD pair and it will target 0.88 next.

NZD/USD The NZD/USD pair is trying to touch the 0.7965 level again and a break over that level will make 0.8 as the next target. A break lower under 0.79 level will target 0.783 level next. NZD/USD will trading sideways around 0.788- 0.795 level and no big movement expected short term.

Trading Events (GMT) :

12:30 AM (AUD) Monetary Policy Meeting Minutes

08:25 AM (AUD) RBA Gov Stevens Speaks

09:30 AM (GBP) CPI

09:30 AM (GBP) PPI Input

09:30 AM (GBP) RPI

09:30 AM (GBP) Core CPI

09:30 AM (GBP) HPI

09:30 AM (GBP) PPI Output

10:00 AM (EUR) German ZEW Economic Sentiment

10:00 AM (EUR) ZEW Economic Sentiment

01:30 PM (USD) PPI

01:30 PM (USD) Core PPI

03:00 PM (USD) NAHB Housing Market Index

06:30 PM (GBP) MPC Member Forbes Speaks

06:30 PM (USD) FOMC Member Kocherlakota Speaks

07:05 PM (CAD) Gov Council Member Cote Speaks

09:00 PM (USD) TIC Long Term Purchase

11:30 PM (AUD) MI Leading Index

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