Technical Analysis for December 01, 2014

EUR/USD is tried to target 1.25 but eventually retraced lower again. Currently EUR/USD is entering a sideways around 1.24-1.25 and will keep moving in this trading range. A break lower under 1.24 will bring the bear move alive again with 1.235 target and a break higher than 1.25 will set up 1.257 as the next target.

 

EUR/GBP moves higher to 0.796 without much a catalyst. Next target will be 0.8 and a new lower movement under 0.79 will target 0.7875 next. Market has a very high chance to rebound due to the volatility in the market.

 

EUR/JPY moves higher to near 148. A break over 148 will bring the target next to 149 and a lower movement to 146.7 will bring the market back to sideways around 146-147. Market still holds the bull trend, bullish.

 

EUR/CHF still trading at 1.2012 level but back to 1.2035 now. The next target is 1.205 and a lower leg under 1.202 will bring back market into the last sideways trading range.

 

GBP/USD tried to move lower but stopped before breaking lower under 1.56. The next target if it breaks under 1.56 will be 1.555 and a retrace to 1.57 will target 1.58 back as a reversal.

 

USD/JPY trading at 118.8 area and trying to reach 119 for now. The next target after 119 area has been breached will be 120 and a reversal under 118 will bring the market to sideways again. Long term uptrend is very strong, bullish.

 

USD/CAD break 1.14 level and this will target 1.15 next. A lot of volatilities will be expected in this pair and a lower break under 1.135 will target 1.2 next. No big changes from last movement except USD/CAD keep continue to move higher, bullish.

 

USD/CHF trying to break over 0.967 will target 0.974 next. A lower leg under 0.96 will crush the bull for now and aims for 0.955 back again. Bull trend has resumed its movement, USD/CHF bullish for now.

 

AUD/USD moves to 0.847. Trying to touch the last target around 0.846. A break from this level will bring AUD/USD to 0.84. A reversal higher to 0.856 will target 0.862 next. AUD/USD still holds the long term bear trend, bearish.

 

The NZD/USD traded around 0.78 level and after it breaks that level the next target will be 0.777.A lower movement will be very expected due to the volatility and a higher movement above 0.79 again will bring NZD/USD to 0.8 for now.

 

 

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