Forex Technical & Market Analysis FXCC Nov 27 2013

Unemployment claims in the USA expected to stay in their narrow range of 331K

Wednesday sees the UK's second estimate GDP figure is published, expected to come in at 0.8%. The preliminary business investment data is published, it fell by 2.7% last quarter the expectations is for a 2.3% rise in the latest figures. The GFK German consumer confidence is published expected in at 7.1, versus 7.0 in the previous month. Durable goods orders for the USA are expected to fall by 1.5%, the Chicago PMI is excepted to fall to 60.6, with unemployment claims in at 331K. Natural gas and oil storage figures for the USA need watching carefully in relation to the volatility of trading oil and gas. Retail sales in Japan are scheduled to fall to a 2.2% increase month on month. The New Zealand ANZ business confidence index is published in the evening, as is Australian data concerning new homes sales and private capital expenditure, the latter expected to fall by -1.1%. Looking towards Wednesday's market open the DJIA equity index future is flat, as is the SPX, with the NASDAQ up 0.53%. STOXX is down 0.23%, DAX down 0.03%, CAC down 0.52% and FTSE down 0.93%. NYMEX WTI oil closed down 0.44% on the Dayan Tuesday at $93.68 per barrel, NYMEX nat gas was up 0.77% at $3.82 per therm. COMEX gold was flat at $1241.50 per ounce and silver at$19.85 per ounce down 0.38%. The euro strengthened 0.4 percent to $1.3572 per dollar late in New York time Tuesday after rising to $1.3575, the highest level since Nov. 20th. The 17-nation currency was little changed at 137.46 yen. Japan’s currency appreciated 0.4 percent to 101.28 per dollar after gaining 0.5 percent, the most since Nov. 13th. Australia’s dollar fell 0.8 percent to 92.44 yen after decreasing 1 percent to 92.25, the weakest since Oct. 10th. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, fell 0.2 percent to 1,018.83 after gaining 0.1 percent.
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FOREX ECONOMIC CALENDAR :
2013-11-27 12:00 GMT | USA. MBA Mortgage Applications (Nov 22)
2013-11-27 13:30 GMT | USA. Chicago Fed National Activity Index (Oct)
2013-11-27 13:30 GMT | USA. Durable Goods Orders (Oct)
2013-11-27 13:30 GMT | USA. Initial Jobless Claims (Nov 22)

FOREX NEWS :
2013-11-27 05:49 GMT | GBP/JPY finds offers at 164.90
2013-11-27 03:44 GMT | EUR/USD spikes in Asia, approaching 1.36
2013-11-27 01:47 GMT | AUD/USD pressured; glued to 0.91
2013-11-27 01:41 GMT | USD/JPY trading a bit higher Wednesday after posting a bearish reversal candle Tuesday

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EURUSD
HIGH 1.3599 LOW 1.35576 BID 1.35876 ASK 1.35881 CHANGE 0.11% TIME 08 : 07:20



OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: The next resistance level is at 1.3597 (R1). Penetration above that level might trigger upside action and expose our next resistive mean at 1.3620 (R2) en route towards to final target for today at 1.3646 (R3). Downwards scenario: Further correction development is limited now to the session low - 1.3560 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3542 (S2) and 1.3520 (S3).

Resistance Levels: 1.3597, 1.3620, 1.3646
Support Levels: 1.3560, 1.3542, 1.3520

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GBPUSD :
HIGH 1.62305 LOW 1.61973 BID 1.62164 ASK 1.62176 CHANGE 0.01% TIME 08 : 07:21



OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High

Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6236 (R1). A break above it would suggest next intraday target at 1.6276 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6309 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6188 (S1), we expect to see further market decline towards to our next target at 1.6145 (S2) and then next stop could be found at 1.6108 (S3) mark.

Resistance Levels: 1.6236, 1.6276, 1.6309
Support Levels: 1.6188, 1.6145, 1.6108

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USDJPY :
HIGH 101.652 LOW 101.184 BID 101.496 ASK 101.501 CHANGE 0.22% TIME 08 : 07:22



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High

Upwards scenario: A violation of next resistance at 101.89 (R1) might call for a run towards to next target at 102.13 (R2) and any further appreciation would then be limited to final target at 102.35 (R3). Downwards scenario: On the other hand, a break of the support at 101.22 (S1) is required to determine negative intraday bias and enable lower target at 101.00 (S2). Clearance of this target would open a path towards to final support for today at 100.76 (S3).

Resistance Levels: 101.89, 102.13, 102.35
Support Levels: 101.22, 101.00, 100.76

Source: FX Central Clearing Ltd,( http://www.fxcc.com )