Today’s market should see more action
after the light volume markets saw during the US Thanksgiving holiday. The
market’s should see even more volatility beginning on Tuesday with the UK’s 4th
quarter GDP announcement. For those interested in a more in
depth analysis, we at CM trading are here to assist those who are interested in
profiting from the financial markets.
EURUSD
The
EUR/USD has been in a steady uptrend since reaching a low of 1.2661 nearly 10
trading days ago. Its currently trading at 1.2954 and the pair is
right below major resistance. If the pair heads to the downside, the first target
is 1.2940 followed by 1.29. On the upside, if it breaks through resistance, the
first target is 1.2990 followed by 1.3020. At 7am, the eurozone will release
numbers for the GfK German Consumer Climate. This report is a measure of
consumer confidence in economic activity and higher than expected readings are
bullish for the Euro.
|
Resistance
|
R1:
1.2990
|
R2: 1.3020
|
R3: 1.3085
|
|
Support
|
S1: 1.2940
|
S2: 1.290
|
S3: 1.2835
|
AUDUSD
Also
facing overhead resistance is the AUDUSD. It’s currently trading at 1.0449 and
if the currency heads downwards, its first support level is 1.0445 followed by
1.0415. Breaking above 1.0470 gives the pair a shot at 1.0490.
|
Resistance
|
R1:
1.047
|
R2: 1.049
|
R3: 1.052
|
|
Support
|
S1: 1.0445
|
S2: 1.0415
|
S3: 1.039
|
GBPUSD
Friday’s trading saw the GBPUSD reach a high of 1.6050. Its slightly down from that level, currently trading at 1.6011. If the pair breaks above that level its next target is 1.6075 followed by 1.6135. Targets on the downside are 1.6015 and 1.5970.
|
Resistance
|
R1:
1.605
|
R2: 1.6075
|
R3: 1.6135
|
|
Support
|
S1: 1.6015
|
S2: 1.597
|
S3: 1.5925
|
Gold
Friday’s trading finally saw Gold break out of its sideways consolidation pattern with a high of $1754.17. If the market continues higher, its next target on the upside is $1757.84 followed by $1764.59. On the downside, support levels to be aware of are $1739.65 and $1732.50.
|
Resistance
|
R1:
1757.84
|
R2: 1764.59
|
R3: 1777.42
|
|
Support
|
S1: 1739.65
|
S2: 1732.50
|
S3: 1721.60
|
Daily
Calendar for Monday, November 26h
|
Time
|
Currency
|
Event
|
Actual
|
Forecast
|
Previous
|
|
07:00
EST
|
EUR
|
GfK German Consumer Climate
|
|
6.2
|
6.3
|
|
16:45
EST
|
NZD
|
Trade Balance
|
|
-536M
|
-791M
|
Successful
Trading!
Jacob Fendrich
Senior Market Analyst
Jacob Fendrich
Senior Market Analyst
Risk Warning: Contracts for
Difference (CFDs) and foreign exchange products are leveraged products
and may not be suitable for everyone. They are highly speculative and involve a
significant risk of loss. Please ensure that you fully understand the risks
involved. More information can be found from our "Risk Disclosure"
statement. . The content offered in this email is for information purposes only
and should not be interpreted as a solicitation to offer purchase or sale of
any financial instrument. The information on which this communication is based
has been obtained from sources we believe to be reliable, but we do not
guarantee its accuracy or completeness. All expressions of opinion are subject
to change.
No comments:
Post a Comment