Market Report for November 30th

by bv on November 30, 2012

EURUSD was quite volatile yesterday again. It kept above above 294 as indicated in last report, pausing a little to carry on north, in a clean follow-through KAse swing leg all the way to 300 (usual 60p levels). Profit taking on resistance resulted in a sharp down swing back to 294, then up again to 300 (6AM UK). Momentum seems to be dissipating on most time frames, yet (4H+) may try and push higher, (D+) being more hesitant. Unfortunately breakout energy is not visible on the current pattern at this point, so it is difficult to predict whether the Euro will keep to current narrow mid-range above 294 (halfway point). Fast Kase as so often come to the rescue in this environment, but can only provide fairly short term information that is not quite in line with a daily report.


EURGBP followed a similar scenario pushing to above 809 target to retrace sharply back to 806 pivot, then to charge again… The upward bias is there also, with however little steam left. Like with EURUSD above, we note higher support rather than clear targets although 811 highs or 812 strong resistance would make sense. Fast Kase may take the lead in a congestive environment on higher time frames. 809 seems to be playing mir range pivot level here. We note that (4H+) are not looking to bright so a stall near current highs should certainly end up in a reversal situation.


GBPUSD is in the same mood, ready to test 605 and maybe higher nearer the next salient level on 611 (610 would be a safer bet if 605 breaks). The energy picture is not that clear though. At this stage, no profit taking in sight, but like our other pairs, another round of Kase swings is possible.


Conversely, USDCHF is looking bearish and failure to now claw back above 928 should certainly fuel further bearish pressure. Lows on 925 may try to hold, causing a bit of bearish congestion. No visible recovery potential at this stage.


( Posted 7:10 AM UK )


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Market Report for November 29th 2012

November 29, 2012

Tweet EURUSD was kind enough to hit our 288 target yesterday, only to bounce strongly back to above 294 to reach 296 Fib. Surprisingly (or not), 294 was Kase pivot with 288 as strong support, has now turned back to strong support status. Does that mean the 294 could now hold ? Caution will have [...]

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Market Report for November 28th 2012

November 28, 2012

Tweet EURUSD unsurprisingly stalled on 300 to return to 294. More surprising maybe is seeing the Euro sinking below that pivot level (announcement of Greek debt write-off?). Where is support to be found now ? We still have the possibility that 292 now bullish resilience holds, but there is now evidence of erasion mode, and [...]

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Market Report for November 28th 2012

November 27, 2012

Tweet EURUSD congested south of 300 as anticipated with minor swings back to resilience level on 294 that could only be picked up on Kase. While momentum is certainly fading there, longer (4H+) time frames have endorsed the new range opening up north of 294 (there pivot)so should try and keep pushing. Having said that, [...]

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Market Report for November 26th 2012

November 26, 2012

Tweet Friday’s report was a little timid with regards to the Euro rising to max 294. It indeed passed the important level to keep moving to almost 300 ! The pattern was not looking that bullish and should have technically stopped at best on Fib (~295), so it is difficult to understand why it kept [...]

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Market Report for November 23rd 2012

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Tweet EURUSD found support on 284 yesterday (incidentally bullish resilience on Kase) to then go for 288 strong resistance. On longer (4H+) time frames, there is now evidence the bearish pattern may have aborted although the recovery is still looking weak. Admittedly (W) has acknowledged Fib support around 274 some time ago, but not convincing [...]

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Market Report for November 22nd 2012

November 22, 2012

Tweet EURUSD clawed back above 276 in morning trade, then went up on a straight line, pausing on the next salient resistance on 282, to aim higher to reach a stall level above 286. Levels are not aligned across time frames and a long Thanksgiving weekend ahead is not helping either but we cannot ignore [...]

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Market Report for Nov 21st 2012

November 21, 2012

Tweet EURUSD congested on 282 pivot as anticipated to then reverse abruptly overnight. More surprisingly, traders have ignored the 276 support area, to go straight to 274 Fib. This indicates that profit taking on shorts may be capped on same 276 pivot area (on fast Kase), incidentally also bearish resilience level now, to possibly fuel [...]

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Market Report for November 20th 2012

November 20, 2012

Tweet EURUSD jumped over 275-276 now acting as pivot to then aim at the next 60p level near 282 stronger resistance where profit taking made sense. Kase (K: 20p) indicates a consolidation back on 276 preventing a return to stronger support. We note that (2H/4H) hold quite well in opposition to longer (4H+) capping all [...]

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Market Report for Nov 19th 2012

November 19, 2012

Tweet EURUSD bounced strongly on rock solid support on 270 announced repeatedly in previous reports. It is not clear whether the Euro has the possibility to stay above 276, then playing pivot level on Kase. 270 is certainly quite strong, yet the bearish pressure on longer (4H+) seems to powerful to allow more than a [...]

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