Daily Fib 25 November 2013

By | November 25, 2013

Technical Analysis

Friday saw EURUSD attempting the recent highs at 1.3580 only to tail off at 1.3560 down to its current price at 1.3540.

Support and resistance can be seen at

  • R4: 1.3700
  • R3: 1.3627/50 61.8% Oct high to Nov low and former support
  • R2: 1.3600
  • R1: 1.3564/78 50% Oct high to Nov low and Nov high
  • S1: 1.3540 Former resistance thru’ Nov – now pivotal
  • S2: 1.3500 Sig fig, former res [38.2% Oct high - Nov low] now support and 38.2% of rise from 20 Nov
  • S3: 1.3470 38.2% Nov low to Nov high plus cluster fibs of rise from 20 Nov
  • S4: 1.3435 50% Nov low to Nov high and 78.6% of rise from Nov 20
  • S5: 1.3400 Low of Nov 20
  • S6: 1.3350

Events of the Day

  • 0745: France Nov Services Sentiment
  • 0745: France Nov Business Climate Index
  • 0745: France Nov Manufacturing Sentiment
  • 0800: Spain Oct PPI
  • 0930: UK BBA Lending Data
  • 1500: US Oct NAR Pending Home Sales
  • 1530: US Nov Dallas Fed Manufacturing Survey

Trade Ideas and Strategies

Friday’s trade ideas resulted in the following:

  1. NZDJPY H1 trade idea: short below 82.88, stop above 83.22 and targeting 82.38: target met.

Today

The following trade ideas have been identified using the simple moving average strategy described in Strategies:

  • No trade ideas in alert state.  Will update during the UK trading day