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Daily Technical Report: November 20, 2014

Published 11/20/2014, 03:21 AM
Updated 07/09/2023, 06:31 AM

EUR/USD - European Session

EUR/USD

The pair is still attempting to stabilize above 1.2560, while breaching 1.2585 and stabilizing above it favors extending the upside move targeting 1.2635 and 1.2680, but these expectations require breaching 1.2585 and stabilizing above it. Failing to break above 1.2585 favors retesting 1.2500 and if the pair broke the referred to levels and stabilized below it, the negative expectations will be activated and the downside move will return.

Support Resistance & Recommendation

GBP/USD - European Session

GBP/USD

The pair is still stable below the previously broken support turning to resistance now at 1.5705, which forces us to keep our bearish expectations for today, supported by the ongoing negativity of Linear Regression Indicators. Our awaited targets start at 1.5500 then 1.5430, while breaching 1.5705 pushes the pair to reverse it intraday move to the upside and visit 1.5950 mainly.

Support Resistance & Recommendation

USD/JPY - Technical Report

USD/JPY

The pair extended its bullish rally and is trading around 118.60 after breaching the resistance 117.85, as stability above the referred to level favors extending the upside move to target 120.80 and 121.70, while breaking 116.10 threatens to fail the suggested expectations.

Support Resistance & Recommendation

USD/CHF - Technical Report

USD/CHF

The pair is still moving to the downside trading around 0.9580. Breaking 0.9540 and stabilizing below it favors extending the downside move to target 0.9480 and 0.9440, while moving back to the upside and breaching 0.9615 activates the positive expectations again targeting 0.9685.

Support Resistance & Recommendation

USD/CAD - Technical Report

USD/CAD

The pair is currently facing 1.1365 and breaching it is significant now to confirm extending the upside move. Linear Regression Indicators are positive and the pair is within the ascending channel showing on graph, which forces us to think that the possibility of extending the upside move is valid today.

Keeping the upside move require not to break 1.1240, but we depend on stabilizing above the previous top 1.1275 to keep our positive expectations for today.

Support Resistance & Recommendation

AUD/USD - Technical Report

AUD/USD

The pair dropped and is trading below 0.8590 after breaking 0.8650 levels, according to that, trading below the referred to levels is negative and support the downside move to target 0.8540 and 0.8500. A break above 0.8625 threatens to fail the suggested expectations.

Support Resistance & Recommendation

NZD/USD - Technical Report

NZD/USD

The pair gradually dropped and is trading today below 0.7855. Trading below the referred to level is negative, as we notice on the above graph negative signals on Linear Regression Indicators, MACD and RSI 14.

Breaking 0.7815 and 0.7805 is significant today to push the pair further to the downside. From the upside, stbility below 0.7900 is important to keep our negative expectations valid.

Support Resistance & Recommendation

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