Gold has posted slight gains in the Tuesday session.

Gold has posted slight gains in the Tuesday session. In North American trade, the spot price for one ounce stands at $1137.32. On the release front, CB Consumer Confidence climbed to 113.7, easily exceeding the estimate of 108.9. On Wednesday, the US releases Pending Home Sales, with the markets expecting a strong gain of 0.6%.
As 2016 wraps up, US consumer confidence indicators continue to move upwards in what analysts are describing as a post-election surge in optimism. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Clearly, consumers are optimistic that the economy will continue to improve under Donald Trump. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump’s economic platform remains short on details, but he has promised to cut taxes while increasing fiscal spending.

USD/JPY has posted gains in the Asian and European sessions

•USD/JPY has posted gains in the Asian and European sessions
•113.86 has switched to a support role following gains by USD/JPY
•114.83 is the next line of resistance
•Current range: 113.86 to 114.83
Further levels in both directions:
•Below: 113.86, 112.48, 111.45 and 110.24
• Above: 114.13, 115.45 and 116.88
USD/JPY ratio is almost unchanged in the Monday session. Currently, short positions have a strong majority (58%), indicative of trader bias towards USD/JPY continuing to move lower.
USD/JPY has started the week with strong gains. Currently, the pair is trading at 114.30. On the release front, Japanese Consumer Confidence dropped to 40.3 points, missing expectations. In the US, today’s key event is ISM Non-manufacturing PMI. The index is expected to improve to 55.3 points.

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EUR/USD

Summary :
Target Level : 1.0565
Target Period : 12 hours
Analysis :
Pennant identified at 30-Nov-17:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.0565 within the next 12 hours.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 1.0667Last resistance turning point of Pennant.
Support Levels
( A ) 1.0565Last support turning point of Pennant.

Chart date range : 17-Nov-09:00 GMT-> 01-Dec-09:00 GMT Data interval : 4 hour RSI: 34 Candles MA: 34 Candles

GBP/USD has started the trading week with strong gains

GBP/USD has started the trading week with strong gains. In the North American session, the pair is trading at the 1.25 line. On the release front, there are no indicators out of the UK or the US. On Tuesday, the UK will release Public Sector Net Borrowing and CBI Industrial Expectations.
It’s a very quiet start to the week, so the markets will have some time to focus on the Autumn Forecast Statement, which serves as a preview to the annual UK budget. This report will be closely watched, as it will detail the government’s forecast for the economy ahead of the Brexit negotiations. Analysts are bracing for a pessimistic report which will point to lower growth, higher inflation and a ballooning deficit. Since the Brexit vote, the economy has managed quite well, consistently putting up numbers which have beaten expectations. However, if the Autumn Forecast Statement points to serious trouble ahead as Britain prepares to leave the EU, the pound could weaken.
•GBP/USD was flat in the Asian and European sessions. The pair has  posted strong gains in North American session
•1.2351 is providing strong support
•1.2479 was tested earlier in resistance and is a weak line
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
In the Monday session, GBP/USD ratio is showing long positions with a majority (58%), This is indicative of trader bias towards GBP/USD continuing to move upwards.

USD/JPY Chart

Summary :
Target Level : 110.647
Target Period : 5 hours
Analysis :
Rising Wedge identified at 21-Nov-05:45 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 110.6470 within the next 5 hours.
Resistance Levels :
( B ) 111.186Last resistance turning point of Rising Wedge.
Support Levels
( A ) 110.647Last support turning point of Rising Wedge.

Chart date range : 18-Nov-03:00 GMT-> 21-Nov-06:00 GMT Data interval : 15 Minutes RSI: 34 Candles MA: 34 Candles

EUR/USD has ticked lower on Friday

EUR/USD has ticked lower on Friday, following sharp losses in the Thursday session. Currently, the pair is trading at the 1.06 line. On the release front, it’s a quiet end to the trading week, with no major releases. German PPI posted a gain of 0.7%, beating the estimate of 0.3%. In the US, the sole economic release is the CB Leading Index, with an estimate of 0.1%. The markets will be more interested in hearing from three FOMC members, who will deliver speeches during the day. This follows Janet Yellen’s testimony before the Joint Economic Committee on Thursday.
US numbers were generally positive on Thursday, as the economy continues to move in the right direction. Unemployment Claims sparkled at 235 thousand, much lower than the estimate of 257 thousand. This marked the lowest weekly claims total since 1973. CPI matched expectations at 0.4%, but Core CPI came in at 0.1% shy of the estimate of 0.2%.  The Philly Fed Manufacturing Index dropped to 7.6 points, short of the forecast. On the housing front, Housing Starts remained unchanged at 1.23 million, above expectations.
•EUR/USD posted small losses in the Asian session and has been flat in European trade. The pair broke through two support lines on Thursday, following sharp losses by EUR/USD
•1.0505 is providing support
•1.0616 is fluid and is currently a weak resistance line
Further levels in both directions:
•Below: 1.0506, 1.0414 and 1.0287
•Above: 1.0616, 1.0708, 1.0821 and 1.0957
•Current range: 1.0506 to 1.0616
EUR/USD ratio has posted gains in short positions. Currently, short positions have a majority (67%), indicative of trader bias towards EUR/USD continuing to move to lower ground.

Canadian dollar is showing limited movement on Tuesday

The Canadian dollar is showing limited movement on Tuesday, following an uneventful Monday session. In North American trade, USD/CAD is trading at 1.3530. On the release front, US Core Retail Sales and 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.  There are no Canadian indicators on Tuesday. On Wednesday, the US releases PPI, while Canada will publish Manufacturing Sales.•USD/CAD was flat in the Asian session and has recorded slight losses in European trade. The pair has posted slight gains early in the North American session
•1.3457 continues to provide strong support
•1.3551 was tested earlier in resistance and remains a weak 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 is showing little movement in the Tuesday session. Currently, short positions command a strong majority (66%), indicative of trader bias towards USD/CAD continuing to move to lower ground.

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