GBP/USD has posted considerable losses on Tuesday

GBP/USD has posted considerable losses on Tuesday, continuing the downward movement which marked the Monday session. In North American trade, the pair is trading at the 1.24 line. On the release front, British CPI unexpectedly dropped to 0.9%, short of the forecast of 1.1%. As well, BoE Mark Carney testified about inflation and the economy before a parliamentary committee. In the US, Retail Sales and Core Retail Sales posted identical gains of 0.8 percent, as both indicators beat their estimates. The Empire State Manufacturing Index gained 1.5 points, beating the forecast of -1.5. On Wednesday, the UK will release three key employment indicators – Average Earnings Index, Claimant Change and the unemployment rate. The US will publish PPI.
•GBP/USD was flat in the Asian session. The pair has posted considerable losses in the European and North American sessions
•1.2351 has weakened in support following losses by GBP/USD
•There is resistance at 1.2479
Further levels in both directions:
•Below: 1.2351, 1.2272 and 1.2120
•Above: 1.2479, 1.2620 and 1.2778
•Current range: 1.2351 to 1.2479
GBP/USD ratio is showing slight movement towards long positions. Currently, long positions command a majority (62%), indicative of trader bias towards GBP/USD reversing directions and moving upwards.

Canadian dollar remains under pressure on Monday

The Canadian dollar remains under pressure on Monday. In the North American session, USD/CAD is trading at the 1.3540. On the release front, it’s a very quiet start to the week, there are no Canadian or US events on the schedule.  On Tuesday, the US will release retail sales reports.•USD/CAD posted gains in the Asian session and has shown limited movement in European trade
•1.3457 is providing strong support
•1.3551 is a fluid line. Currently, it is a weak resistance line
Further levels in both directions:
•Below: 1.3457, 1.3371, 1.3253 and 1.3120
•Above: 1.3551, 1.3648 and 1.3782
•Current range: 1.3457 to 1.3551
USD/CAD ratio has shown gains in long positions. Currently, short positions command a strong majority (64%), indicative of trader bias towards USD/CAD reversing directions and moving to lower ground.

The Canadian dollar remains under pressure on Friday

The Canadian dollar remains under pressure on Friday, as USD/CAD continues to post gains this week. In the North American session, USD/CAD is trading at the 1.35 line. On the release front, there are no Canadian events on the schedule. In the US, today’s highlight is UoM Consumer Sentiment. The indicator is expected to edge lower to 87.4 points.•USD/CAD has been marked by choppy trading in the Asian session
•1.3457 is providing support
•There is resistance at 1.3551
Further levels in both directions:
•Below: 1.3457, 1.3371, 1.3253 and 1.3120
•Above: 1.3551, 1.3648 and 1.3782
•Current range: 1.3457 to 1.3551
USD/CAD ratio is unchanged in the Friday session. Currently, short positions command a strong majority (68%), indicative of trader bias towards USD/CAD reversing directions and moving to lower ground.

USD/CAD was flat in the Asian session.

•USD/CAD was flat in the Asian session. The pair has posted gains in European trade
•1.3457 remains busy. Currently, it is a weak support line
•There is resistance at 1.3551
Further levels in both directions:
•Below: 1.3457, 1.3371, 1.3253 and 1.3120
•Above: 1.3551, 1.3648 and 1.3782
•Current range: 1.3457 to 1.3551
USD/CAD ratio has shown slight movement towards long positions. Currently, short positions command a strong majority (67%), indicative of trader bias towards USD/CAD reversing directions and moving to lower ground.
USD/CAD continues to post strong gains in the Thursday session, following the upward movement seen on Wednesday. In the North American session, USD/CAD is trading at 1.3480. On the release front, Canadian NHPI posted slight gains of 0.2%, matching the forecast. In the US, unemployment claims dropped to 257 thousand, marking a 4-week low. On Friday, the US will release UoM Consumer Sentiment. The indicator is expected to edge lower to 87.4 points.

EUR/CHF chart

Summary :
Target Level : 1.073
Target Period : 2 days
Analysis :
Rectangle has broken through the support line at 09-Nov-17:00 2016 GMT. Possible bearish price movement forecast for the next 2 days towards 1.0730.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 1.0832Last resistance turning point of Rectangle.
Support Levels
( A ) 1.0752Last support turning point of Rectangle.

Chart date range : 25-Oct-08:00 GMT-> 10-Nov-09:00 GMT Data interval : 4 hour RSI: 34 Candles MA: 34 Candles

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