Technical Analysis for December 09, 2014

EUR/USD bounces from the last low at 1.225 level and traded around 1.231 level for now. The next target for the lower break will be 1.2 but after retesting 1.225 again first. A reversal to 1.238 will bring risk to 1.24 – 1.25 trading range again. Long term bearish trend very strong.

 

EUR/GBP tries to break lower but eventually halted. EUR/GBP can’t break down far from 0.785 and entered a new sideways around 0.784 – 0.793. A break to the lower level will target 0.78 next and a break higher will target 0.8 next.

 

EUR/JPY break over 149.5 line, trying for a push to 150 but retreated to 148.5 level. This lower break will pose a risk to the 147.8 line but a retest to 149 will target 150 again next.

 

EUR/CHF trying to make a break to the lower level again but hardly success. EUR/CHF traded around 1,202 for now, a break under this level will target 1.2 slowly but a higher break to 1.2035 will target 1.205 next.

 

GBP/USD rebound higher to 1.563, trying to break 1.57 line but failed. A reversal once more again is very likely and a break under 1.56 will target 1.557 once more again. Over that level, it will target 1.555 next. A break higher than 1.568 will target 1.57 and eventually 1.58 next.

 

USD/JPY breaks under 121 level and traded at 120.6. A reversal from that level is well respected due to the recent bull movement. The next target for this lower break will be 120 and a reversal to 121 will retest 121.6 again next.

 

USD/CAD slowly moves higher and trading around 1.148 level for now. Eventually it will target 1.15 level and a lower break under 1.14 will stop at 1.135 for now. Trend is bullish and a bearish engulfing change will be needed to break this trend.

USD/CHF retreats from 0.98 line and traded at 0.976 level for now. A lower break under 0.972 will target 0.967 once more again and a break higher than 0.978 will retest 0.98 again.

 

AUD/USD breaks the lower level at 0.83 and keeps trading lower. The next target for this trend will be 0.824 and a reversal to 0.84 will target 0.844 short terms. No break sign in this pair yet, bearish trend intact.

 

The NZD/USD keep moving lower to 0.765 level and targeting 0.76 next. A break higher than 0.77 might target 0.777 level again. Long term downtrend is very strong, bearish.

 

 

Trading Events (GMT) :

12:30 AM (AUD) NAB Business Confidence

03:45 AM (JPY) 30y Bond Auction

06:00 AM (JPY) Prelim Machine Tool Orders

06:45 AM (CHF) Unemployment Rate

07:00 AM (EUR) German Trade Balance

07:45 AM (EUR) French Gov Budget Balance

07:45 AM (EUR) French Trade Balance

09:30 AM (GBP) Manufacturing Production

09:30 AM (GBP) Industrial Production

Tentative (GBP) 30 y Bond Auction

All day (EUR) ECOFIN Meetings

12:30 PM (USD) NFIB Small Business Index

03:00 PM (GBP) NIESR GDP Estimate

03:00 PM (USD) JOLTS Job Opening

03:00 PM (USD) TBD/TIPP Economic Optimism

03:00 PM (USD) Wholesale Inventories

11:30 PM (AUD) Westpac Consumer Sentiment

11:50 PM (JPY) BSI Manufacturing Index

11:50 PM (JPY) PPI

Risk Disclaimer

Forex and CFDs are leverage products, involved a high level of risk and can result in the loss of all your invested capital. Forex and CFDs may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience.

All information on this website, including any opinion, charts, prices, news, data, Buy/Sell signals, research and analysis is our point of view and is provided as general market commentary and does not constitute any investment advice.

OneStopBrokers.com will not accept any responsibility or liability for losses incurred by customers, visitors or traders as a result of using the data available on OneStopBrokers.com. Read more

---