Technical Analysis for December 12, 2014

EUR/USD moves downwards to 1.24 level and breaks to 1.237. Currently it is gaining the lower momentum and will keep pushing sideways around 1.24 – 1.25. A break higher than 1.25 will target 1.26 next and a break lower to 1.23 will target 1.225 again.

 

EUR/GBP broke upper line at 0.793 and retraces lower. Currently it is trading around 0.787 and will keep moving lower. The lower target will be 0.784 and next will be 0.78. A reversal to 0.79 will threated the top line again and 0.8 next.

 

EUR/JPY almost breaks the 146 line but retraces to 148. Currently it is trading around 147.5 line and retesting the lower level. A break off under 146 will change the trend into a bear trend and a reversal to 148 will once again targeting 149 line.

 

EUR/CHF makes a big reversal to 1.201 line and keep moving lower, targeting the 1.2 line for now. A break from this level will find a new low but a reversal to 1.2025 will make EUR/CHF re-enter the last trading range.

 

GBP/USD tried to enter the trading sideways again but break off to 1.57 and above. A new high target will be 1.575 short terms and next it will target 1.58. A lower break from this level will once again target 1.56 level and re-enter the last sideways.

 

USD/JPY goes high back to 119 line and escapes from the last bottom threat. Next target will be 120 and a break from this level will try to find price stability in here. Lower target will be 117 and a break of this level will start the downtrend in this pair.

 

USD/CAD moves higher break 1.15 line and trading around 1.153 line. Next target will be 1.158 line and a reversal under 1.15 will target 1.145 next. Bull trend still very strong, bullish.

 

USD/CHF escapes from the lower level around 0.963 and traded at 0.969 now. Next higher target will be 0.97 level and the lower target will be a retest of 0.963 level. USD/CHF still trying to repair the bull trend in this pair.

 

AUD/USD moves lower again and traded at 0.826 level. Next lower target will be a retest of the lower level and 0.82 next. A reversal to 0.83 will make AUD/USD enter a new trading range around 0.827 – 0.836 level.

 

The NZD/USD retraces a bit after the last rally. Currently NZD/USD traded at 0.78 level and trapped in this level. Next higher movement will be a retest of 0.786 level and 0.79 next. A comeback to 0.77 will resume the downtrend to 0.76 next.

 

 

Trading Events (GMT) :

04:30 AM (JPY) Revised Industrial Production

05:30 AM (CNY) Industrial Production

05:30 AM (CNY) Fixed Asset Investment

05:30 AM (CNY) Retail Sales

07:00 AM (EUR) German WPI

09:30 AM (GBP) Construction Output

10:00 AM (EUR) Industrial Production

10:00 AM (EUR) Employment Change

10:00 AM (GBP) CB Leading Index

01:30 PM (USD) PPI

01:30 PM (USD) Core PPI

02:55 PM (USD) Prelim UoM Consumer Sentiment

02:55 PM (USD) Prelim UoM Inflation Expectations

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