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CURRENCIES TECHNICAL ANALYSIS November.10

Euro

Buyers are trying hard to leave the red figures, however, they are not lucky so far. They managed to lift the euro to the 1.1650 where they lost steam. The mentioned level is the upper boundary of the sideways channel and a stiff obstacle for bulls. The resistance resides at 1.1700, the support comes in at 1. 1650. Should the euro recover more ground and advance beyond the mentioned the 1.1650 level, the rally can extend in the short term up to 1.1700. But first the spot needs to break through the EMA100 which can reject the pair and send it to 1.1600 in the short-term.

 

Pound

The neutral stance persists in the GBP/USD pair and the market seems fairly balanced amid a lack of market movers. The pound is moving back and forth in a wide range between 1.3150 and 1.3100. The 50 and 100 EMAs provided a strong resistance blocking the GBP further advance. The resistance lies at 1.3200, the support comes in at 1.3100. Buyers need to struggle hard to continue their advance. The pound approached a stiff barrier from a number of technical levels and moving averages. The major is likely to rebound back below 1.3100 unless it finds enough steam to break all the obstacles through.

 

USD/JPY

Sellers faced a stiff buyers’ resistance around 113.00. The EMA200 reinforced this level and helped buyers to reject sellers’ attack. As a result, the pair bounced off the level and grew to the 113.50. The resistance lies at 114.00, the support comes in at 113.00. The pair may start a new consolidation phase staying between the 113.50 mark and the support level 113.00.

 

GBP/JPY

The pound remains on recovery-mode so far on Friday. Buyers moved the major to the 14900 hurdle where they lost control. As we see, sellers do not hurry to regain the market leaving the spot in a neutral stance. The resistance lies at 149.00, the support is at 148.00. The pair is below a strong resistance area which as we hope will reject the pair downwards in the near term. After a daily close below 149.00 we could see the pair extending down to the 148.00 region during the next sessions.

 

EUR/JPY

The euro is struggling to build onto the recovery gains. Buyers managed to break through the 132.00 hurdle and pushed the pair to the 132.20 region where the EMA50 blocked its further advance. The euro started a consolidation phase after that trading between 132.20 and 132.00. The resistance lies at 132.50, the support is at 132.00. We expect the start of a fresh bearish phase which could lead the pair down to 131.50.

 

NZD/USD

The NZD/USD pair is trying hard to break through the 0.6950 hurdle. All buyers’ attempts to reclaim the level were beat off by sellers. The NZD is slowly declining towards 0.6900. The resistance is at 0.6950, the support stands 0.6900. When sellers break the level 0.6900 the support 0.6850 comes back into play.

 

DAX

The negative bias prevails keeping DAX under pressure. The index is still in the red staying between 13200 and 13100. The resistance lies at 13200, the support exists at 13100. We believe that the DAX index will maintain its offered tone in the short-term. We expect the spot break through the immediate support and moves towards 13000.

 

S&P500

The bearish views are getting more popular. S&P500 keeps losing ground flirting with the lower boundary of the upward channel. The resistance lies at 2580, the support exists in at 2570. The S&P500 looks vulnerable and is prone for more weakness. If sellers regain the 2570 hurdle the benchmark may ease to the 2550 region.

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