Technical Analysis: Currency pairs – Nov 20
Technical Analysis for November 20, 2014
EUR/USD attempts to cross over 1.257 line but failed and it has formed double top at 1.257 level. A break over 1.258 will target 1.257 next and this will bring further heavy bullishness in EUR/USD. A break lower than 1.25 will target 1.24 next and resume the long term downtrend. EUR/USD still in 1.25- 1.257 trading range now.
EUR/GBP attempts to target 0.81 but failed. Currently EUR/GBP still in 0.7975 – 0.804 trading range and an it will target 0.81 next. A lower leg under 0.795 will break this bull trend and target 0.7875 next.
EUR/JPY has crossed 147 line and resumes the uptrend. A big reversal is very likely due to the volatility in the price action but only of EUR/JPY breaks lower to 145.8 line and it will target 145 next. A higher break over 148 will target 149.6 next.
EUR/CHF No big change in EUR/CHF and this pair 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 pair tried to break 1.57 line but failed. GBP/USD still in reversal and a break under 1.56 again will try to target 1.556 next. A higher leg to 1.57 level will target 1.574 next.
USD/JPY pair has passed over 117 line completely and currently targeting 118.5 without any sign to stop at all. A lower leg to 115.8 will target 115 next. Long term uptrend still intact.
USD/CAD has been trading around 1.132 level and the next target will be 1.14 level. A break to 1.13 level will target 1.1275 next. Currently USD/CAD is doing a reversal to go back to its bull path.
USD/CHF Market will keep moving around 0.958 – 0.965 range for now but USD/CHF has been trading lower and attempts to break 0.956 line. A break over this level will target 0.95 next and a higher break over 0.961 will target 0.966 next.
AUD/USD traded under 0.8665 and 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. Market has turned their bullish state into neutral.
NZD/USD The NZD/USD pair was trading around 0.788 level – 0.795 and broke lower under 0.79 and now will target 0.783 level next. A reversal to 0.7915 will send back NZD/USD into the last trading range
Trading Events (GMT) :
01:35 AM (JPY) Flash Manufacturing PMI
01:45 AM (CNY) HSBC Flash Manufacturing PMI
05:00 AM (JPY) BOJ Monthly Report
07:00 AM (CHF) Trade Balance
07:00 AM (EUR) German PPI
08:00 AM (EUR) French Flash Manufacturing PMI
08:00 AM (EUR) French Flash Services PMI
08:30 AM (EUR) German Flash Manufacturing PMI
08:30 AM (EUR) German Flash Services PMI
09:00 AM (EUR) Flash Manufacturing PMI
09:00 AM (EUR) Flash Services PMI
09:30 AM (GBP) Retail Sales
11:00 AM (GBP) CBI Industrial Order Expectations
12:45 PM (USD) FOMC Member Tarullo Speaks
01:30 PM (CAD) Wholesale Sales
01:30 PM (USD) CPI
01:30 PM (USD) Core CPI
01:30 PM (USD) Unemployment Claims
02:45 PM (USD) Flash Manufacturing PMI
03:00 PM (EUR) Consumer Confidence
03:00 PM (USD) Philly FED Manufacturing Index
03:00 PM (USD) Existing Home Sales
03:00 PM (USD) CB Leading Index
03:30 PM (USD) Natural Gas
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