Technical Analysis for November 27, 2014

EUR/USD is reached the short term target to 1.25 and breaks that level. The next target will be 1.26 but a rebounce back under 1.243 level will target 1.235 next. Chance for reversal is very high due to the volatility in the market.

EUR/GBP moves even lower from the last movement and currently trading around 0.792 level. Last movement tried to break 0.79 level and the next target will be 0.7875. After it breaks then the next target is 0.78 but a rebounce higher to 0.794 will target 0.8 level next.

EUR/JPY still stucked at 146.3 – 147.4 trading range for now. 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. A break will be coming soon.

EUR/CHF still trading at 1.202 level like yesterday and trapped in sideways again. The level for the sideways is 1.201- 1.203 and if it breaks 1.203 then next target will be 1.205. 1.2 line is very difficult to be broken but if it manages, it will reach new low.

GBP/USD reached the 1.58 target and will keep moving higher. Next target is 1.589 for the higher up movement and a lower break under 1.57 will target 1.56 next.

USD/JPY tried to break under 117.5 level but stopped for now. USD/JPY is trading around 117.7 level and will try to retest 117.5 after breaking 117.5 it will target 116.5 next. A rebounce to 118 will bring price stability around 117.5 – 118.

USD/CAD still trading at 1.124 level and moving sideways around 1.12 – 1.13. 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 tried to break 0.96 level and will target 0.957 next. After touching that level, it will bring back to price stability in 0.955 – 0.962 area. Risk for reversal still very high due to the volatility in the market these few days.

AUD/USD touched under 0.85 level since the first time after 2010. This will be a huge event for those are trading AUD/USD. Eventually it retraces to 0.855 level but the next target for the long term is 0.846. Downtrend still very strong, bearish.

NZD/USD  The NZD/USD tried to break 0.788 level but find a lot of difficulty in breaking it. The next target will be a retest to 0.788 level and then 0.795 next. A lower leg under 0.78 will target 0.777 next.

Trading Events (GMT):

12:30 AM (AUD) Private Capital Expenditure

08:00 AM (EUR) Spanish Flash CPI

08:00 AM (EUR) German Unemployment change

09:00 AM (EUR) M3 Money Supply

All day (OPEC Meetings)

12:00 PM (EUR) German Consumer Climate

01:30 PM (CAD) Current Account

09:45 PM (NZD) Building Consents

11:30 PM (JPY) Tokyo Core CPI

11:50 PM (JPY) Prelim Industrial Productions

11:50 PM (JPY) Retail Sales

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