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Daily Analysis – Jan. 15th, 2015

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Daily Analysis – Jan. 15th, 9:30am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.1735, 1.1886, 1.204
Support:  1.1580, 1.1431, 1.1200
Bias: Short. EUR has been trading in the range (1.886 – 1.1735). The Swiss Bank removing the CHF peg to EUR caused EUR to drop as well and break below the range. EUR went up to retest the backside of this range, providing a short opportunity. EUR could come down to fill the inefficient move down to the 1.1580.

Pair: GBPUSD

Resistance:  1.5265, 1.5326, 1.5400
Support:  1.5200, 1.5170, 1.5080, 1.5034
Bias:  Neutral. GBP has been trading in the range (1.5033 – 1.5265). It has formed a nice base and has a potential to move up. If it breaks through the top of the range at 1.5265 and holds, it could go up to the 50% Fib swing level at 1.5326. I’ll be looking for the back-test of the 1.5265 level (38% Fib level) for a long. If it doesn’t hold above this level, it could setup for a short at this level as well to go back into the range.

Fundamentals

High Impact News scheduled for today:

  1. PPI m/m – 8:30am
  2. Unemployment Claims – 8:30am
  3. Core PPI m/m – 8:30am
  4. Empire State Manufacturing Index – 8:30am
  5. Philly Fed Manufacturing Index – 10:00am
  6. German Buba President Weidmann Speaks – 11:15am

Indices and Commodities

DOW – down – 17,427.09
S&P500 – down – 2,011.27
Nasdaq – down – 4,639.32
Nekei – up – 17,108.70
FTSE100 – up – 6,458.20
DAX – up – 9,959.44

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