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Daily Analysis – Nov. 19th, 2014

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Daily Analysis – Nov. 19th, 10:00am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.2576, 1.2600, 1.2640, 1.2685
Support:  1.2500, 1.2470, 1.2400, 1.2370
Bias: Neutral. Expect move back into the range prior to FOMC data release. FOMC data has potential to move markets, so caution is warranted trading this afternoon.

Pair: GBPUSD

Resistance:  1.5700, 1.5730, 1.5800, 1.5880, 1.5900
Support:  1.5600, 1.5570, 1.5500, 1.5400
Bias:  Short. Trading today can be tricky due to the FOMC data due this afternoon. Overall expect the GBP to move back into the range, filling the inefficient gap created on news during the London session. Could see a move down to the bottom of the range to 1.5600 area.

Fundamentals

High Impact News scheduled for today:

  1. Building Permits– 8:30am
  2. Housing Starts – 8:30am
  3. FOMC Meeting Minutes – 2:00pm

Indices and Commodities

DOW – up – 17,687.82
S&P500 – up – 2,051.80
Nasdaq – up – 4,702.44
Nekei – down – 16,288.75
FTSE100 – down – 6,704.23
DAX – up – 9,487.80

Gold – up – $1,201.00
Oil – down – $74.63

 

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