forexct market insight report 11/30/2011

8/3/2019 ForexCT Market Insight Report 11/30/2011

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Market Insights 30 November 2011

Markets continue to buy risk with equities and commodity currencies higher

Aussie pushes back above parity helped by sharp jump in US consumer confidence data

Euro pops higher on US confidence numbers but then falls back below 1.3400

Gold ends higher but cant break 1720; oil surges back above 100

US sharemarket higher in line with other equity markets; Dow finishes 2.6% higherA massive night ahead, with EU meeting and ADP jobs numbers

Headlines

AUD/USD

GOLD

Resistance

1.0080

Support

0.9970Market Sentiment

Neutral

The Aussie is looking more bullish now it has stamped support at 0.9930 and 0.9970 but the market will need to see a littlemore price action before switching the a more bullish view. For now, however, a pullback to 0.9930/70 will be seen asbuyable.

Golds trading in a tight band between 1705 and 1720 but is clearly finding major resistance up at 1720. Traders are likelyto continue to favour the short side until we see a clear break of 1720.

Resistance

1720

Support

1705Market Sentiment

Bearish


2/4

EUR/USD

GBP/USD

USD/JPY

The dollar-yen reversed after making a false break above 78.20 but weve now found support at 77.60 and this is suggestive ofurther gains in the near term. On a very short-term basis, a break of 78.00 could see a move back to 78.20. Dont forget whave ADP employment tonight.

Cable is also showing signs of breaking out of the recent downtrend with a move above 1.5660. The market will now beactively considering longs from either 1.5570 or on a break of 1.5660.

The Euro produced a false break above 1.3400 and this means the market is likely to maintain its bearish view on this pair. Abreak of the weekly lows at 1.3270 could be seen as the next opportunity for sellers. Any positive news out of the EU meetingtonight could see this pair push significantly higher.

Resistance

1.3400

Support


Bearish

Resistance

1.5660

Support


Neutral

Resistance

78.20

Support


Neutral


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AUD/JPY

Resistance

76.70Support


Bearish

SILVER

USD/CHF

GBP/JPY

The sterling-yen is now at resistance at 121.80 and traders will be looking for longs on a break above 121.80. Any positivnews out of the EU meeting tonight could see this pair push significantly higher.

The dollar-Swiss remains volatile and traders are likely to try and build new positions at lower levels. The major support levelare now seen at 0.9100. Dont forget we have ADP employment tonight.

We havent seen a lot of action on silver over the last 24 hours with the pair still trapped between 31.00 and 33.00. Thmarket is likely to play the range in the near term.

Resistance

33.00

Support


Neutral

Resistance

0.9340

Support


Bullish

Resistance

121.80

Support


Neutral


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OIL

Economic Calendar

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Forex Capital Trading Ph 1800 ForexCT

F/Cast Last F/Cast Last

JPY: Prelim IP 1.1% -3.3% EUR: Unemployment 10.2% 10.2% AUD: Private Capital Exp 8.2% 4.9% USD: ADP Employment 131k 110k EUR: ECB Draghi CAD: GDP 0.3% 0.3% EUR: German Unemployment -6k 10k USD: Chicago PMI 58.5 58.4 EUR: CPI Flash 3.0% 3.0% USD: Beige Book

Oils seen a false break above 100.00 overnight and this is likely to attract selling interest. Traders will be now looking for apotential move back to 97.20.

The Aussie-yen has seen some solid gains over the last 24 hours in line with the turnaround in risk appetite. Traders will nowbe looking for longs on a break and ongoing trade above 78.30

Resistance

100.00Support


Bearish

AUD/JPYResistance

78.30Support


Neutral

forexct market insight report 11/30/2011

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