Daily Fib 26 November 2013

By | November 25, 2013

I’m away for the remainder of the week but will update when I can.  This is an update at 20:30 25 November based on events of today:

Technical Analysis

Yesterday saw EURUSD making a high at 1.3556 and then trail down to 1.3490.  This is in line with the analysis of finding support at 1.3500 having taken out stops beneath.  Look for today’s low to hold to recapture 1.3540 for a move higher.  To the downside, a breach of the low at 1.3490 brings 1.3400 back onto the radar, a breach of which would invite the bears back out to play.

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
  • R1: 1.3540 Resistance thru’ Nov – now pivotal
  • S2: 1.3500/3490 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

  • 1000: UK Inflation Report Hearings
  • 1330: US Sept Building Permits
  • 1330: US Sept Housing Starts
  • 1400: S&P/CS HPI
  • 1500: US CB Consumer Confidence
  • 1500: US Richmond Manufacturing Index
  • 2145: NZD Trade Balance

Trade Ideas and Strategies

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

  • There may be ideas on the Alerts and Signals page, but I am unable to qualify them due to being away.