Technical Analysis for November 26, 2014

EUR/USD  is trading around 1.2475 level and trying to break higher ad the next target is 1.25. If it breaks 1.25 then it will target 1.26 next and if it breaks lower under 1.235 then it will target 1.225 next.

EUR/GBP tried to breaks lower but eventually stopped with the support around 0.79 level. After getting a hard time to make a new push lower, it eventually retraced to 0.794. In case that it breaks and touch 0.7875 level a further decline would be expected but if it breaks higher to 0.8 level then it will enter the last sideways trading range around 0.79-0.805 level.

EUR/JPY has entered 146.3 – 147.4 trading range for now. No breaks expected in medium term but a higher break to 148 will brings back EUR.JPY pair to 149 level. And a lower one to 145.5 will brings back EUR/JPY to 144 trading range.

EUR/CHF has trying to break 1.203 line but retrace to 1.202 level. Next EUR/CHF will retest the 1.203 area and the next target will be 1.205. If EUR/CHF breaks lower than 1.2 then it will reach a new low as the next target.

GBP/USD has a difficulty to break off from 1.564 – 1.574 trading range. A break higher to 1.575 will target 1.58 next and a lower break under 1.56 will target 1.55 next. Market tends to keep moving sideways for now.

 

USD/JPY tried to break 118.3 level and currently trading around 117.9 level. The next target will be 120 for the bull trend. A lower breaks under 117.5 level will pose a new bear risk for this bullish trend.

USD/CAD has retraced to 1.124 level and entered a new trading range around 1.12 – 1.13. It will be hard to shake off from this trading range and a break lower than 1.12 will target 1.15 next and a break higher to 1.14 will target 1.146 next.

USD/CHF keep trying to move lower from the last high and currently trading around 0.964 level. A further lower breaks to 0.96 level will bring back to price in 0.955 – 0.962 area. Risk for reversal still very high due to the volatility in the

market these few days.

AUD/USD breaks lower than 0.855 and stayed in 0.8525 level for now. The next lower target would be 0.85 and a higher break to 0.863 will target 0.87 next. Long term downtrend has been formed again.

NZD/USD The NZD/USD pair tried to breaks lower than 0.78 but eventually retraced to 0.7812. The next target for the lower leg would be 0.777 level and a break above 0.788 will target 0.795 next.  

Trading Events (GMT) :

12:30 AM (AUD) Consturction Work Done

07:00 AM (CHF) UBS Consumption Indicator

07:00 AM (EUR) German Import Prices

09:30 AM (GBP) Second Estimate GDP

09:30 AM (GBP) Prelim Business Inventories

09:30 AM (GBP) Index of Services

11:00 AM (GBP) CBI Realized Sales

01:30 PM (USD) Core Durable Goods Orders

01:30 PM (USD) Unemployment Claims

01:30 PM (USD) Core PCE Price Index

01:30 PM (USD) Durable Goods Orders

01:30 PM (USD) Personal Spending

01:30 PM (USD) Personal Income

02:45 PM (USD) Chicago PMI

02:55 PM (USD) Revised Uom Consumer Sentiment

02:55 PM (USD) Revised Uom Inflation Expectations

03:00 PM (USD) New Home Sales

03:00 PM (USD) Pending Home Sales

03:30 PM (USD) Crude Oil Inventories

05:00 PM (USD) Natural Gas Storage

09:45 PM (NZD) Trade Balance

 

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