Daily Forex Analysis November 9, 2012

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Fundamental Part

First news for today will concern about French industrial production which will be released at 9:00 am GMT. Analysts are expecting production will fell by 1.4 percent compared to previous rise 1.7 percent. Also it will have a medium impact on the euro.

Next at 9:30 am GMT Office for national statistics is going to report figures about trade balance in UK. It is expected improvement in deficit from 9.8 to 9.1 billion. Analysts also expect a medium impact on the sterling.

At 1:30 pm GMT Bureau of Labor Statistic is going to report survey about import prices in the United States. Previous report showed rise by 1.1 percent but today it is expected stagnation at 0.0 percent. And moreover it will have a medium impact on the dollar.

Last news for today will have a high impact on the dollar and will be released at 2:55 pm GMT when University of Michigan will publish data about prelim consumer sentiment. It is expected sentiment will remain at 82.6 points just as it showed previous report.


 

Technical Part

The EURUSD analysis

 091112eurusd

The Alligator is suggesting upward movement which is confirmed by Stochastic entering overbought zone. Strong uptrend is being indicated by Aroon and MACD breaking above zero line is indicating beginning of upward move.

Expanding Bollinger bands and price above SMA are indicating rise. RSI in the buyer´s zone and CCI in the overbought zone are both indicating further rise.

According to the previous events the market is suggesting bullish opportunity.

After a consolidation price has rebounded from daily pivot at 1.2743 and now is testing resistance at 1.2774. Break above this level will confirm next target at 1.2808 resistance and further increase above this level towards 1.2838 hasn´t been excluded. But if price rebounds from first resistance correction could rise again after reaching support at 1.2725.

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The USDJPY analysis

091112usdjpy

The Alligator is suggesting that price is rebounding and rise will be in favor soon. This is supported by Aroon which is heading towards overbought zone. Weakening downtrend is indicating trend reversal and uptrend may be in favor. MACD indicates that price has formed bottom and correction is now in favor.

Narrowing Bollinger bands and price approaching SMA are indicating rebound. RSI in the seller´s zone indicate further decline while CCI is suggesting buy signal entering buyer´s zone.

According to the previous events the market is suggesting bullish opportunity.

Price has rebounded from support at 79.358 and soon it will be testing former support at 79.595. Sustained rise above this level will approach daily pivot at 79.814 and if price will have enough momentum and rise above this level next target will be at 79.960 resistance. Also if price rebounds from former support decline towards 79.240 support hasn´t been excluded.

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The GBPUSD analysis

091112gbpusd

The Alligator is suggesting upward move which is also indicated by Stochastic reaching overbought zone. Strong uptrend is being indicated by Aroon and MACD seems it is rebounding from zero line.

Expanding Bollinger bands and price above SMA are indicating upward move. Strong upside movement is being indicated by RSI and CCI is probably falling and will indicate sell signal soon.

According to the previous events the market is suggesting bullish opportunity.

Price is testing resistance at 1.6010 and break above this level will be indicating next target at 1.6045 resistance. But if price rebounds from first resistance it will focus back on the daily pivot at 1.5969. Decline below support 1.5952 will confirm downward move towards 1.5935 support.

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The USDCHF analysis

091112usdchf

The falling Alligator is suggesting downside move. Stochastic is indicating decline holding in the oversold zone. According to the Aroon we can expect strong downtrend and MACD has declined below zero line suggesting further fall.

Expanding Bollinger bands and price below SMA are indicating further decline. RSI in the seller´s zone suggesting downside move but CCI is indicating buy signal enter and it still be in the seller´s zone.

According to the previous events the market is suggesting bearish opportunity.

Price has decline below support at 0.9441 and if price isn´t rebounding it will focus on the next target at 0.9420 support. Rebound will mean that price will approach daily pivot at 0.9462 and break above 0.9470 resistance will confirm rise and target at 0.9483 resistance. Also deeper decline towards 0.9400 support hasn´t been excluded.

 091112usdchf2

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Fundamental Part First news for today will be published at 9:30 am GMT when Office for National Statistics will release...

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