Technical Analysis for December 11, 2014

EUR/USD keeps moving higher threatening the bear trend. Currently EUR/USD traded around 1.249 level and keeps moving higher. A break of 1.25 will eventually target 1.26 next and a down movement to 1.245 will make EUR/USD enter a trading range around 1.24 – 1.25. A break under 1.24 will resume the bear trend to 1.225 and eventually 1.2 level next.

 

EUR/GBP still trying to break above to 0.793 line but can’t break off at all. A break over here will target 0.8 next and a lower break to 0.784 will target 0.78 next.

 

EUR/JPY breaks off under 147 and keeps moving lower. This will threaten a lot of traders and it will keep pushing lower. Next target will be 146 and a rebounce to 147 will target back 147.8 next.

 

EUR/CHF makes a comeback from 1.202 to 1.203. Currently EUR/CHF has entered trading range again around 1.2 – 1.2035 level and tried to break higher. A break higher will target 1.205 net and lower break will target 1.2 next.

 

GBP/USD breaks 1.57 line and keeps moving higher. Currently GBP/USD traded around 1.575 and will keep targeting 1.58 next. A lower break under 1.57 will make GBP/USD enter a sideways around 1.56 – 1.57 next.

 

USD/JPY breaks 118 line and keeps making big reversal. Next target for the lower movement will be 117 and a rebounce to 118 will slowly target 120 once more again.

 

USD/CAD moves higher and made a small correction to 1.146. Next higher target will be 1.15. A break over 1.15 will slowly target 1.156 next. A reversal under 1.143 will target 1.137 next.

 

USD/CHF made a new low to 0.963 and keeps moving lower. Next low target will be 0.96 and a reversal will target 0.97 next. A break of 0.97 will target 0.978. Uptrend broken in USD/CHF has been broken.

 

AUD/USD made a big correction to 0.834 level but can’t break 0.837 line. A break of this level will reverse to 0.84 and 0.844 next. No break sign in this pair yet, bearish trend intact. A bear movement will target 0.82 next.

 

The NZD/USD keeps breaking high and traded at 0.784. Next higher target will be 0.79 and a lower break under 0.77 will target 0.76 next. NZD/USD still carry a high risk of reversal due to the volatility in this pair.

 

 

Trading Events (GMT) :

12:00 AM (AUD) M1 Inflation Expectations

12:01 AM (GBP) RICS House Price Balance

12:10 AM (NZD) RBNZ Gov Wheeler Speaks

12:30 AM (AUD) Employment Change

12:30 AM (AUD) Unemployment Rate

07:00 AM (EUR) German Final CPI

07:45 AM (EUR) French CPI

08:30 AM (CHF) Libor Rate

08:30 AM (CHF) SNB Monetary Policy Assessment

08:30 AM (CHF) SNB Press Conference

09:00 AM (EUR) ECB Monthly Bulletin

09:00 AM (EUR) Italian Industrial Production

10:15 AM (EUR) Targeted LTRO

01:00 PM (CAD) BOC Gov Poloz Speaks

01:30 PM (CAD) NHPI

01:30 PM (CAD) Capacity Utilization Rate

01:30 PM (USD) Core Retail Sales

01:30 PM (USD) Retail Sales

01:30 PM (USD) Unemployment Claims

01:30 PM (USD) Import Prices

03:00 PM (USD) Business Inventories

03:30 PM (USD) Natural Gas Storage

06:01 PM (USD) 30 y Bond Auction

09:30 PM (NZD) Business NZ Manufacturing Index

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