Daily Forex Analysis November 12, 2012

121112eurusd

Fundamental Part

Due to a US bank holiday there are no important US news today but at 7:00 am GMT Destatis is going to publish figures about German WPI. It will have a low impact on the euro and analysts are expecting deterioration from 1.3 percent rise to 0.5 percent.

And tomorrow at 7:45 am GMT we can expect medium impact news which will concern about French prelim non-farm payrolls. It is expected decline by 0.2 percent compared to previous fall by 0.1 percent in a last report.


 

Technical Part

The EURUSD analysis

121112eurusd

The Alligator is suggesting consolidation of the EURUSD while Stochastic is indicating upward movement. Aroon still indicates uptrend but decline below level fifty will confirm trend weakening. MACD is testing zero line and break above this level and sustained rise will confirm upside movement.

Expanding Bollinger bands and price above SMA are suggesting upside move. RSI in the buyer´s zone and CCI in the overbought zone are suggesting further increase.

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

Price is testing daily pivot at 1.2729 and break above this level will confirm rise towards resistance at 1.2769. New high could be formed earlier around 1.2760 resistance. But if price rebounds from daily pivot and holds above 1.2705 we can expect consolidation will continue. Decline below last low will confirm target at support at 1.2670.

121112eurusd2


 

The USDJPY analysis

121112usdjpy

The Alligator is suggesting sideway move of the USDJPY while Stochastic seems it will decline. According to the Aroon we can expect strong downtrend. MACD confirm consolidation and also upward move remains in favor.

Sideway moving Bollinger bands and price above SMA are suggesting possible decline. RSI confirm consolidation holding at level fifty. CCI is indicating sell signal and it will probably soon enter seller´s zone.

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

Price is holding above daily pivot at 79.423 and suggests sideways move which will continue if price holds above 79.365 support. Decline below this level will open way towards next objective at 79.090 support. But if price rebounds from daily pivot it will approach resistance at 79.780.

121112usdjpy2


 

The GBPUSD analysis

121112gbpusd

According to the Alligator price is forming bottom and we can probably expect rebound. Also Stochastic is rising and it could reach overbought zone soon. Weakening downtrend indicated by Aroon suggests uptrend will be soon in favor. MACD confirms conclusions from Alligator and correction is in favor.

Narrowing Bollinger bands and price above SMA are suggesting possible increase. RSI has reached level fifty and sustained rise will confirm upward move. CCI in the overbought zone indicates further rise.

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

If price is rebounding it will focus on the daily pivot at 1.5927 sustained rise toward resistance at 1.5955 will confirm next objective at 1.5979 resistance. Also consolidation will be confirm if price holds below daily pivot at above support at 1.5905. But decline below this level will confirm target at 1.5845 support.

121112gbpusd2


 

The USDCHF analysis

121112usdchf

The Alligator is suggesting it will decline soon which is confirmed by Aroon falling towards oversold zone again. Weakening downtrend indicated by Aroon and possible trend reversal could be soon in favor. If MACD holds above zero line consolidation will be confirm decline below thislevel will be suggesting downside move.

Sideway moving Bollinger bands and price below SMA are suggesting downward move. RSI in the seller´s zone and CCI in the oversold zone are indicating downside movement.

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

Price is falling towards daily pivot at 0.9468 and sustained decline below this level will confirm target at 0.9439 support. Deeper decline towards support at 0.9415 hasn´t been excluded. But if price holds above daily pivot at resistance at 0.9485 resistance, consolidation will be confirmed. But sustained rise could also approach resistance at 0.9508.

121112usdchf2

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Daily Forex Analysis November 13, 2012


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