Dukascopy Technical Analysis
– Fitch Ratings (based on Bloomberg
The currency pair is closing in 1.3380/60, which is to provide temporary support for the price. After some time it is expected to be pushed through, clearing the way to subsequent levels at 1.3145 and eventually 1.20.
“The outlook for the euro is worsening gradually because clearly there’s been contagion in the euro zone debt markets”
– BNY Mellon (based on CNBC)
EUR/JPY has successfully tested 103.40 and now the bearish momentum is gradually gaining strength to drag the price down to 103.08. Should the latter support be breached, then this drop might extend down to 100.77.
“The euro zone problems are likely to reduce the chances of an early [UK] labour market recover”
– Institute for Employment Studies (based on WSJ)
Since the pair has come below 1.5825, it should then tumble down to 1.5632. Secondary and tertiary targets are located at 1.5272 and 1.5050. Rallies are to be capped by resistances at 1.6060 and 1.6136.
“Japan has little chance of succeeding in pegging its currency at a certain level because yen trading volumes and the size of its economy are much bigger”
It seems that USD/JPY has based upon a support situated at 76.94 and is not willing to move in any direction. Nevertheless, in the long-term it is expected to commence advancing toward 79.44 and afterwards surge up to 80.44.
“[US] Retail sales is more than enough to keep the economy going. They continue to push back the recession fears that began this summer”
– TD Securities (based on CNBC
USD/CHF is one of few pairs to have bullish impetus, as it has managed to climb over 0.9157 and is now headed toward 0.9317 and 0.9341/99. From below the pair is well-supported by an uptrend at 0.8962.
Dukascopy Fundamental Analysis
– Emma Marcegaglia, head of employers association at Confindustria
“The data is relatively upbeat in the U.S”
– Omar Esiner, a strategist at Commonwealth Foreign Exchange
U.S. consumer prices decreased slightly for the first time in four months in October, giving the Federal Reserve opportunity to ease monetary policy in case the economy falters. The prices dropped 0.1 percent, compared to September, said the Labor Department on Wednesday.
– Peter Dixon, an economist at Commerzbank AG
– Christian Zogg, fund manager at LLB Asset Management
– Bank of Japan