Technical Analysis: Currency pairs – Nov 21
Technical Analysis for November 21, 2014
EUR/USD has crossed 1.257 line and touched 1.26 line. A break over 1.26 will target 1.268 next and now it’s staying in 1.25 – 1.258 trading range. If EUR/USD breaks down under 1.25 it will target 1.24 next.
EUR/GBP attempts still in 0.7975 – 0.804 trading range and it will target 0.81 next. A lower leg under 0.795 will break this bull trend and target 0.7875 next. A break higher over 0.804 will target 0.81 next.
EUR/JPY has crossed 148 line and trading in 148-149 trading range. A big reversal is very likely due to the volatility in the price action but only of EUR/JPY breaks lower to 146.7 line and it will target 145 next. A higher break over 149.6 will target 150 next.
EUR/CHF No big change in EUR/CHF and this pair has been trading around 1.2 – 1.2025 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 and touched 1.572 line. A break over 1.575 will target 1.582 level next and a lower leg under 1.56 will target 1.55 next. GBP/USD still in 1.56-1.572 trading range these few days.
USD/JPY pair has passed over 118 line completely and currently trading around 117.8 – 118.8. No any sign to stop at all. A lower leg under 117 level will target 115.6 next. A break higher than 119 will go for 120 next as the target. Long term uptrend still intact.
USD/CAD has been trading around 1.13 – 1.136 level and the next target will be 1.14 level. A lower 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 has broken the 0.86 line and traded around 0.859 – 0.87 for now. A break lower under 0.856 will target 0.85 next and a reversal to break higher than 0.869 will bring back the price to stability in 0.8735 area.
NZD/USD The NZD/USD pair was trading around 0.788 level – 0.795 but broker lower under 0.788 level already. As 0.783 level was broken, it will retest 0.783 level and will target 0.777 next. A higher break over 0.793 will target 0.8 level again.
Trading Events (GMT) :
02:00 AM (NZD) Credit Card Spending
08:00 AM (EUR) ECB President Draghi Speaks
09:00 AM (GBP) Public Sector Net Borrowing
10:15 AM (EUR) German Buba President Weidmann Speaks
01:30 PM (CAD) Core CPI
01:30 PM (CAD) CPI
07:45 PM (GBP) MPC Member Miles Speaks
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