Technical Analysis for November 28, 2014

EUR/USD is tried to target 1.26 after breaking 1.252 line but rebounce to 1.246. Next it will retest the 1.26 level again for the higher movement but a reversal under 1.24 will target 1.235 next. Once it breaks 1.235 it will go straight for 1.225 next.

 

EUR/GBP moves still trading around 0.792 level. Last movement tried to break 0.794 level failed and rebounced to 0.792 trading level again. Next target for the lower movement will be 0.7875. After it breaks. If it retests 0.794 level again, the next target will be 0.8 level.

 

EUR/JPY still stucked at 146.3 – 147.4 trading range but attempts to break higher for now. A higher break to 148 will brings backEUR.JPY pair to 149 level. No break expected for short term but a lower movement under 146 will target 145 next.

 

EUR/CHF still trading at 1.202 level but attempts to move from sideways. 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 tried to move lower and currently trading around 1.572 level. The next target for the lower movement will be 1.57 and once it breaches 1.57 level it will target 1.56 next. A reversal to 1.58 will target 1.589 next.

 

USD/JPY break 117.5 level and currently is trading around 117.9 level. A retest to 117.5 will target 116.5 next. A rebounce to 118 will bring price stability around 117.5 – 118. Long term uptrend still intact.

 

USD/CAD break 1.13 level and this will target 1.14 next. A lot of volatilities will be expected in this pair and a lower break under 1.12 will target 1.115 next. Uptrend stayed alive for now, bullish.

 

USD/CHF reversed to 0.96 level and trading around 0.964. A break over 0.967 will target 0.974 next and a lower leg under 0.96 will crush the bull for now. The next target for the lower movement will be 0.955.

 

AUD/USD retraced to 0.86 and bounced again to 0.851 level. It will try to retest 0.85 level again and reach new lower level. The next target for the long term is 0.846. Downtrend still very strong, bearish.

 

The NZD/USD traded at 0.79 level but eventually retraced lower. The next target will be 0.78 level and after it breaks that level the next target will be 0.777. A higher movement above 0.79 again will bring NZD/USD to 0.8 for now.

 

Trading Events (GMT):

12:00 AM (NZD) ZND Business Confidence

12:05 AM (GBP) Gfk Consumer Confidence

12:30 AM (AUD) Private Sector

05:00 AM (JPY) Housing Starts

07:00 AM (EUR) German Retail Sales

07:00 AM (GBP) Nationwide HPI

07:45 AM (EUR) French Consumer Spending

08:00 AM (CHF) KOF Economic Barometer

09:00 AM (EUR) Italian Monthly Unemployment Rate

09:00 AM (EUR) Italian Quarterly Unemployment Rate

10:00 AM (EUR) CPI Flash Estimate

10:00 AM (EUR) Core CPI Flash Estimate

10:00 AM (EUR) Unemployment Rate

10:00 PM (EUR) Italian Prelim GDP

01:30 PM (CAD) GDP

01:30 PM (CAD) RMPI

01:30 PM (CAD) IPPI

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