Technical Analysis

EUR/USD
Daily maximum: 1.2942
Daily minimum: 1.2858
EUR/USD continued moving downwards after the month-to-month US pending homes sales rose 7.3% instead of forecasted 1.7%; therefore the market participants’ forecast mean (1.2967) remained untapped. Daily Resistance: 1.3043; 1.3145; 1.3211. Daily Support: 1.2875; 1.2809; 1.2707. Daily Bias: Neutral.

EUR/JPY
Daily maximum: 100.77
Daily minimum: 100.05
The Euro pierced the market participants’ forecast at 101.05 against the Yen on news banks deposited the record sum to the ECB. Daily Resistance: 101.54; 102.20; 102.62. Daily Support: 100.46; 100.04; 99.38. Daily Bias: Neutral.

GBP/USD
Daily maximum: 1.5575
Daily minimum: 1.5362
The pair slumped today and breached the daily forecast mean at 1.5508 after the Chicago PMI rose more than expected (62.5 vs. 60.4 estimate). Daily Resistance: 1.5617; 1.5779; 1.5867. Daily Support: 1.5367; 1.5279; 1.5117. Daily Bias: Bullish.

USD/JPY
Daily maximum: 77.94
Daily minimum: 77.68
The pair continues trading in the 77-78 price range against the Yen as investors were spooked by more-than-expected US unemployment claims, thus the daily market participants’ target at 77.87 has been pierced. Daily Resistance: 78.13; 78.31; 78.60. Daily Support: 77.66; 77.37; 77.19. Daily Bias: Bullish.

USD/CHF
Daily maximum: 0.9470
Daily minimum: 0.9417
The Swiss Franc traded lower today versus the American dollar and breached the 0.9403 price level as the m/m US Pending home sales rose in November more than expected. Daily Resistance: 0.9469; 0.9516; 0.9590. Daily Support: 0.9348; 0.9274; 0.9227. Daily Bias: Neutral.