Forex Daily Analisys - Tuesday 2014.11.28

Forex Daily Analisys - Tuesday 2014.11.28

Market back to dump U.S dollar after unexpected fell on Consumer confidence yesterday, market start to speculate that U.S growth data still not solid enough to encourage tapering and so market may sustain demand for higher return investement such as shares and major currencies against dollar. Market waiting today more data over U.S economy to gain more sight over Fed Quantitative Easing program intentions.

So far Dollar index still moving inside our expected trading zone (80.35-81.55), while market managed to rebound as holding support of 80.35 intact. Market still holding trades above support level of 80.35 where as long as market holding trades above this zone expect farther advance for the dollar. Market tested resistance level of a downtrend swing around 81.30 , while above 81.55 expect 82.05 while strong resistance will be laying at 82.65. Below 80.35 market may continue drop pressure toward 79.35-60 zone.

Yesterday News that drive the market move:
European Stocks Advance on German Consumer Confidence
U.K. Economic Growth Accelerates on Investment
British Pound approaching one year high after GDP
Oil approaching one month low before U.S inventory

Today's Forex News are:
ANZ Business Confidence
German Unemployment Change

German Unemployment Rate


EUR/USD: uptrend restore strength 

Pivot 1.3583
As we see over the chart , market managed today to jump above 1.3580 activating another uptrend channel as we can see over the chart.
Market now targeting 1.3625 and 1.3700 zone where we will expect a normal uptrend movement toward those targets.
The mid-term still facing resistance around 1.3830 where as long as market kept trading below this level will expect some drop correction, while the short-run trading still holding strength toward 13625 and 1.3700 .
As long as the daily close continue above the 1.3490 the uptrend movement will sustain toward 1.3700.

Short term strategy: flat
Daily Trend: Up
Weekly Trend: Up

GBP/USD: Pound on trading zone

Pivot 1.6272
British Pound managed to jump above 1.6260 after GDP data today where market activating the uptrend strength inside our expected trading zone.
So far market seems heading for trading zone between 1.5950 - 1.6380, where as long as market holding trades above 1.5850 will expect farther advance for pound in the comming weeks/months toward 1.6380, 1.6620, 1.6750 and 1.7050.
Market so far building signals which may activate the long-run uptrend again where targets for this long-run wave may targeted the 1.9300 zone.
Short-run facing support at 1.6240 where as long as market holding trades above this level expect the uptrend movement to sustain for the coming short-run.

Short term strategy: flat
Saily Trend: Up
Weekly Trend: Up

USD/JPY: on breaking the triangle zone

Pivot 101.84
Market managed to break above resistance of the triangle as we see over the chart and as we expected before.
Market sustain the uptrend movement on BOJ announced to support Easing for farther effort to support inflationary measures.
Market broke above 100.60 and 101.50 (our second target) while farther advance will be expected toward 102.40 and 103.80.
Market support at 100.60 and 99.60 where both are consider good to buy zone , while stop loss to be below 98.90.
As long as market holding trades above 98.90 the uptrend wave will sustain.

Short-term strategy: place long(buy) orders at 101.00 and 100.35, and 99.60, stop loss below 98.90, target 102.40 and 103.80
Daily Trend: Up
Weekly Trend: Up

Oil(F): New contract
Oil under drop pressure while rebound chances spark.
Market back to obtain daily close below 94.50-60 which indicating the continues drop pressure over the Oil where market seeking to test 92.25 support zone.
Market still fcing support for the short-run around 93.05 where as long as market holding trades above this level another rebound will be expected for Oil, while below 93.00 expect another drop to test 92.00-25 zone.
If market fell below 91.25 this may be the start for farther drop wave which may target 87.80 and 85.80.
Anyway, we will keep the rest of the trades we bought inside 93.05-50 with same stop loss where this trading zone obtain us so far good profit.

Short term strategy: keep the rest of the trades we bought inside 93.05-50 , stop loss at 93.00 , target 95.30
Daily Trend: Down
Weekly Trend: Down


GOLD : downtrend wave continue

As we see over the chart, market managed to rebound above resistance of downtrend channel while resistance zone still solid at 1258-62 zone.
As long as market holding trades below 1262 will expect another drop toward 1234, while below 1227.50 expect 1210.
From another hand, if market managed to rebound above 1262 this will give the market the strength to build uptrend movement that may target 1279 and 1288.
Market showing trading oppertunity for short-run over gold as the stop loss is so tight

Short term strategy: short(sell) on dips 1253, stop loss above 1258, target 1234 and 1210
Daily Trend: Down
Weekly Trend:Down

Dow Jones: new uptrend wave affecting the market

Market still moving inside the uptrend wave which targeting 17000 zone
Short-run trading may obtain drop correction inside this wave while support level at 15990 and 15835-65
As long as market holding trades above 15835 the uptrend movement will sustain

Short-Term Strategy: place long(buy) orders at 15850-60 , stop loss below 15830
Daily Trend: Up
Weekly Trend: Up


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