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Daily Analysis – Nov. 4th, 2014

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Daily Analysis  – Nov. 4th, 9:30am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.2500, 1.2540, 1.2600, 1.2630
Support:  1.2400, 1.2670, 1.2625, 1.2580
Bias: Neutral. With the congressional elections today, I expect the price to stay within the range (1.2600 – 1.2440) as the markets wait on the election results.

Pair: GBPUSD

Resistance:  1.6020, 1.6120, 1.6180, 1.6220, 1.6285
Support:  1.6053, 1.5950, 1.5880
Bias: Neutral. With the congressional elections today, I expect the price to stay within the range (1.6120 – 1.5880) as the markets wait on the election results.

Fundamentals

High Impact News scheduled for today:

  1. Factory Orders m/m– 10:00am
  2. Congressional Elections – All day

Indices and Commodities

DOW – down – 17,366.24
S&P500 – down – 2,017.81
Nasdaq – down – 4,638.91
Nekei – up – 16,862.00
FTSE100 – down – 6,512.26
DAX – down – 9,301.76

Gold – down – $1,168.70
Oil – down – $77.18

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