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Daily Analysis – Nov. 10th, 2014

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Daily Analysis – Nov. 10th, 9:30am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.2470, 1.2500, 1.2550, 1.2600
Support:  1.2400, 1.2350
Bias: Short.  With no news to drive the price movement, expect the price to back-test the 1.2500 level and come back into the lower range, moving towards lower end of the range.

Pair: GBPUSD

Resistance:  1.5900, 1.6000, 1.6120, 1.6180, 1.6220, 1.6285
Support:  1.5880, 1.5800, 1.730
Bias:  Short. Price tested the 1.5900 level 3 times, pushing up to 1.5915 but could not hold. Expect price to move back down into the range, moving towards 1.5800.

Fundamentals

High Impact News scheduled for today: None.

Indices and Commodities

DOW – down – 17,564.94
S&P500 – up – 2,033.49
Nasdaq – up – 4,634.72
Nekei – down – 16,781.00
FTSE100 – up – 6,603.17
DAX – up – 9,293.08

Gold – down – $1,166.90
Oil – up – $79.32

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