Technical Analysis for December 03, 2014

EUR/USD pushes the price for another low under 1.24. Next target will be 1.235 and if it breaks this level it will target 1.225 next. A push higher than 1.24 will bring back EUR/USD into the last trading range around 1.24-1.25.

 

EUR/GBP still trying to break 0.79 line and currently trading around 0.7915 level. 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 breaks 148 line and retraced to 147.6 level. A retest for 148 will be the next target and if it breaks this level it will target 149 next. A reversal under 147 will target 146.7 next as for the lower movement.

 

EUR/CHF retest the higher level once again and traded at 1.2045 but currently stay at 1.2035 level. A higher movement will target 1.205 next and a lower break to 1.2025 will bring back EUR/CHF into the last trading range.

 

GBP/USD broken the lower line at 1.565 and currently keep moving lower to target 1.56 level. A reversal higher to 1.57 will target 1.58 again and if it breaks 1.56 it will target 1.555 next. Downtrend in GBP/USD once again alive.

 

USD/JPY breaks 118.5 level and broke 119 level as well. The next target for the higher movement will be 120 and a push of this level is very bullish. If it breaks lower under 117.8 then it will target 116.9 level next. Long term uptrend intact here, very bullish.

 

USD/CAD moves higher to 1.14 level. This bull movement will target 1.15 next but a reversal under 1.13 level will target 1.12 again and this will bring the market into a new sideways. Long term uptrend still intact, bullish.

 

USD/CHF moves higher once again and targeting 0.973 for now. The next target for the higher movement will be 0.98 and if it moves lower to 0.96 it will re-enter the sideways once more again.

 

AUD/USD moves lower and hit the target at 0.843 level. Currently market will enter sideways around 0.842 – 0.85 but an attempt for a lower movement will target 0.84 next. And a higher movement for reversal higher than 0.85 will target 0.856 next.

 

The NZD/USD reversed from the last movement and traded at 0.78 level. A lower movement from this level will target 0.777 next and a higher movement over 0.786 will target 79 level once again.

 

 

Trading Events (GMT):

12:30 AM (AUD) GDP

01:00 AM (CNY) Non Manufacturing PMI

01:45 AM (CNY) HSBC Services PMI

06:45 AM (CHF) GDP

08:15 AM (EUR) Spanish Services PMI

08:45 AM (EUR) Italian Services PMI

09:00 AM (EUR) Final Services PMI

09:30 AM (GBP) Services PMI

10:00 AM (EUR) Retail Sales

12:30 PM (GBP) Autumn Forecast Statement

01:15 PM (USD) ADP Non Farm Employment Change

01:30 PM (USD) Revised Nonfarm Productivity

02:45 PM (USD) Final Services PMI

03:00 PM (CAD) BOC Rate Statement

03:00 PM (CAD) Overnight Rate

03:00 PM (USD) ISM Non Manufacturing PMI

03:30 PM (USD) Crude Oil Inventories

05:30 PM (USD) FOMC Member Plosser Speaks

07:00 PM (USD) Beige Book

07:00 PM (USD) FOMC Member Brainard Speaks

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