Technical Analysis for December 02, 2014

EUR/USD tried to break 1.25 line but retraced again to 1.247 level. Currently market posed a risk to retest 1.25 level and break to 1.255 next. A bear movement under 1.24 still will target 1.235 next.

 

EUR/GBP threatened 0.79 line but currently stopped at 0.792. After it breaks 0.79 then the next target will be 0.7875 and a higher retracement to 0.795 will target 0.8 next.

 

EUR/JPY still trying to break 148 line but retraced to 147.5 line. Market posed a risk to break under 147 line and if it breaks then 146.7 will be the next target. A higher movement that breaks 148 level will target 149 next.

 

EUR/CHF failed to keep moving upwards and retraced to 1.202. Currently EUR/CHF has gone back to sideways around 1.202-1.2035. A break for upper movement will target 1.205 next and a lower break will target 1.2 next.

 

GBP/USD has broker 1.57 line and the next target for the upper movement will be 1.58. This is a big reversal comparing to the last bear movement and a lower movement will target 1.56 for now if it breaks 1.565 line.

 

USD/JPY retraced quite a lot of their last movement and currently trading at 118.2 level. A break lower than 117.8 will target 116.9 next and a higher movement break 118.5 level will resume the bullishness and bring back USD/JPY to price around 119.

 

USD/CAD breaks 1.132 level and targeting 1.12 next. The last big uptrend has reversed for quite a bit and the next target for higher movement again will be 1.14. If it breaks that level USD/CAD will target 1.15 next.

 

USD/CHF almost crushes the bull trend by moving lower but eventually retraced. Currently USD/CHF traded around 0.964 level and will move sideways around 0.9615 – 0.969 level for now. A break lower will target 0.955 next and a higher break will target 0.973 next.

 

AUD/USD attempts a small reversal but currently stopped at 0.85 level. And after that reversal, it retraced to 0.849 level and traded around that level. A lower move under 0.848 will target 0.843 next and a higher movement to 0.856 will target 0.862 next.

 

The NZD/USD has broken 0.79 line and the next target for the higher movement will be 0.8. Currently NZD/USD has retraced to 0.786 level with a risk reversal from last movement. A lower movement under 0.784 will target 0.777 short terms.

 

 

Trading Events (GMT):

12:00 AM (NZD) ANZ Commodity Prices

12:30 AM (AUD) Building Approvals

12:30 AM (AUD) Current Account

01:30 AM (JPY) Average Cash Earnings

03:30 AM (AUD) Cash Rate

03:30 AM (AUD) RBA Rate Statement

03:45 AM (JPY) 10y Bond Auction

08:00 AM (EUR) Spanish Unemployment Change

09:30 AM (GBP) Construction PMI

10:00 AM (EUR) PPI

01:10 PM (USD) FOMC Member Fischer Speaks

01:30 PM (USD) Fed Chair Yellen Speaks

Tentative (NZD) GDT Price Index

03:30 PM (USD) Construction Spending

05:00 PM (USD) FOMC Member Brainard Speaks

10:30 PM (AUD) AIG Services Index

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