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Daily Analysis – Nov. 5th, 2014

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Daily Analysis – Nov. 5th, 9:30am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.2500, 1.2540, 1.2600, 1.2630
Support:  1.2480, 1.2400, 1.2300
Bias: Short. Price has broken below the 1.2500 that was a major level which held back in October. If the price holds below this level, looking for the price to move down to 1.2400.

Pair: GBPUSD

Resistance:  1.6000, 1.6120, 1.6180, 1.6220, 1.6285
Support:  1.5900, 1.5870, 1.5800
Bias:  Short. Price bounced off close to 1.600 then retraced around 80% of the down move. Looking for the price to move further down towards 1.5900 support level.

Fundamentals

High Impact News scheduled for today:

  1. FOMC Member Kocherlakota Speaks – 9:15am
  2. ISM Non-Manufacturing PMI – 10:00am

Indices and Commodities

DOW – up – 17,383.84
S&P500 – down – 2,012.10
Nasdaq – down – 4,623.64
Nekei – up – 16,937.32
FTSE100 – down – 6,523.87
DAX – down – 9,316.77

Gold – down – $1,143.90
Oil – up – $77.55

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