Technical Analysis
GOLD ANALYSIS
GOLD confirmed a positive closing on Friday while remaining interior the previous day’s range.
BUND ANALYSIS
The BUND confirmed a weak closing well below the 136,90 level supporting further weakness.
Global FX Technical Strategist – EUR/USD – Morning Update – 21 Nov 2011
EUR/USD keeps or the time being a MT weak study. Critical 1.4255/1.4306 (MT 61.8%+MT rising channel support) & key 1.4448 (MT 61.8%) are still the MT key resistances to overcome to regain a MT rising bias with before resistances on key 1.3872 (LT falling wedge resistance), 1.3932 (61.8%) & 1.4045 (ST 61.8%).
STOXX 50 ANALYSIS
The EUROSTOXX 50 confirmed a session of consolidation on Friday forming a new inside day with a support at 2190 that has been broken this morning causing further weakness. The weekly closing was negative.
DAX ANALYSIS
The DAX failed to confirm the previous week’s positive week reversal closing instead again below the 200 weeks line.
USD/CHF ANALYSIS
The USD/CHF confirmed on Friday a negative closing but the weekly one was strong suggesting further upside potential.
GBP/USD ANALYSIS
The CABLE confirmed a positive closing on Friday but the weekly one was weak well below the low of the previous week.
EUR/JPY ANALYSIS
The EUR/JPY confirmed a positive daily closing on Friday but the weekly one was weak, below the low of the previous week suggesting we have a top at 111,62 and supporting therefore a retest of the low at 100,76!!
EUR/CHF ANALYSIS
EUR/CHF is still well bid above 1,2350 that on Friday has been tested with even an undershooting before closing again around the 1,24 level.
EUR/GBP ANALYSIS
EUR/GBP confirmed on Friday a further session of consolidation interior the inside day with 0,8600 – 0,8505 still the levels to follow in the coming hours.
EUR/USD ANALYSIS
The EUR/USD confirmed a positive closing but not a strong one while the weekly closing was instead negative.
USD/JPY ANALYSIS
The USD/YEN confirmed on Friday a drop even below 76,60 before recovering closing however in negative territory, however above the support of the range 77,35 – 76,80!!