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Forex Technical & Market Analysis FXCC Nov 26 2013

Discussion in 'Major Currency Crosses' started by alayoua, Nov 26, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Nov 26 2013

    USA house price index is published as the Richmond Fed Manufacturing Index is expected to rise.

    Tuesday in the UK will see the publication of the UK's Nationwide Building Society's house price inflation report. As one of the more modest/reasonable indices of house price data in the UK the print is expected to come in up 0.6% month on month. The UK also holds inflation report hearings during the day. The USA publishes data on building permits and housing starts, expected in at circa 0.92K for both. The Standard & Poor's Case Shiller house price index is published with the expectations that annual house price inflation in the USA will rise to 13% year on year. The Conference Board Confidence index is published, expected in at 72.1, with the Richmond Manufacturing index expected up at 3 from the previous reading of 1.0. Late Tuesday evening New Zealand publishes its trade balance, expected down at -345 million, whilst construction data (completed) for Australia is published. The yen fell 0.4 percent to 101.67 per dollar late in New York time on Monday after reaching 101.92, the weakest since May 29th. It slid 0.1 percent to 137.43 per euro after touching 137.99, the weakest since October 2009. The dollar added 0.3 percent to $1.3517 against Europe’s shared currency. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, rose 0.2 percent to 1,020.95.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-11-26 10:00 GMT | UK Inflation Report Hearings
    2013-11-26 13:30 GMT | US Housing Starts (MoM) (Oct)
    2013-11-26 15:00 GMT | US Consumer Confidence (Nov)
    2013-11-26 21:45 GMT | NZ Trade Balance (YoY) (Oct)

    FOREX NEWS :
    2013-11-26 05:44 GMT | EUR/USD at risk of further retracements - ANZ
    2013-11-26 04:47 GMT | Gold giving its best impression of an upside attempt – something not seen in a while
    2013-11-26 03:55 GMT | GBP/USD falling softly after posting a nasty bearish reversal candle on Monday
    2013-11-26 02:16 GMT | USD/JPY taking a breather after closing Monday above key “correction resistance” at 101.46

    -----------------------
    EURUSD :
    HIGH 1.35408 LOW 1.35151 BID 1.35301 ASK 1.35305 CHANGE 0.1% TIME 08 : 36:32

    [​IMG]

    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Risk of possible price appreciation is seen above the next resistance level at 1.3541 (R1). Clearance here would suggest next intraday target at 1.3553 (R2) and then final aim locates at 1.3566 (R3). Downwards scenario: Our technical outlook would turn into negative side below the support level at 1.3516 (S1). Possible price depreciation would then be targeting support at 1.3504 (S2) en route to final target at 1.3492 (S3).

    Resistance Levels: 1.3541, 1.3553, 1.3566
    Support Levels: 1.3516, 1.3504, 1.3492

    --------------------------
    GBPUSD :
    HIGH 1.61742 LOW 1.61456 BID 1.61462 ASK 1.61469 CHANGE -0.05% TIME 08 : 36:33

    [​IMG]

    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Immediate resistance at 1.6174 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 1.6193 (R2) and any further rise would then be limited to final resistive measure at 1.6213 (R3) Downwards scenario: Opportunity for bearish oriented traders is seen below the important support level at 1.6133 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.6114 (S2) and 1.6096 (S3).

    Resistance Levels: 1.6174, 1.6193, 1.6213
    Support Levels: 1.6133, 1.6114, 1.6096

    ------------------
    USDJPY :
    HIGH 101.71 LOW 101.333 BID 101.551 ASK 101.555 CHANGE -0.12% TIME 08 : 36:34

    [​IMG]

    OUTLOOK SUMMARY : Up
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Next actual resistance level is seen at 101.91 (R1). If the market manages to surge higher, our focus will shift to the next target at 102.15 (R2) and any further price strengthening would be limited to final resistance at 102.39 (R3). Downwards scenario: Any penetration below the support level at 101.32 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 101.10 (S2) and 100.86 (S3) as next possible targets.

    Resistance Levels: 101.91, 102.15, 102.39
    Support Levels: 101.32, 101.10, 100.86

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )
     
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