Market Expectations

Daily maximum: 1.3640

Daily minimum: 1.3512

The single European currency moved lower today after the German ZEW Economic Sentiment index has been released at -55.2 versus estimated -51.8, suggesting that the German economy might slow down in the short-term. This potential outcome spook investors, who pushed the pair lower to 1.3512, leaving the market mean at 1.3664 intact.

Therefore, support 1 at 1.3540 has been breached, suggesting the next support lines at 1.3456 and 1.3238 might be tested next, whereas the resistance (1.3758; 1.3892; 1.4410) levels stood firmly today. The daily trading outlook is strongly bearish.

Daily maximum: 105.56

Daily minimum: 103.99

The pair moved lower today after disappointing data from Europe has been released and the Japanese national economy returned to growth in the third quarter this year, thus EUR/JPY breached the market mean at 105.37 while moving downwards.

Resistance (106.23; 107.44; 109.38) levels remained intact today, while a breach of support 1 at 104.29 paves the way to support 2 (103.55) and 3 (101.60), respectively. Meanwhile the daily market stance is strongly bearish.

Daily maximum: 1.5931

Daily minimum: 1.5813

GBP/USD slipped today after lower than expected CPI and RPI data release, suggesting the economic recovery is still fragile. The market mean at 1.5945 remained untapped.

While resistance (1.6023; 1.6167; 1.6378) lines might be tested if bullish reversal occurs, a pierced support 1 at 1.5821 exposes support 2 at 1.5745 and support 3 at 1.5534 to be tested next. Meanwhile, the daily market bias is bearish.

Daily maximum: 77.48

Daily minimum: 76.91

After the market mean at 77.05 has been touched, the Japanese yen eased today as the national economy posted a positive growth in the third quarter.

A breach of resistance 1 at 77.29 clears the way to the last two resistance levels: 77.50 and 77.96 respectively; none of the support (76.84; 76.60; 76.14) levels has been breached. The daily outlook is strongly bearish.

Daily maximum: 0.9177

Daily minimum: 0.9082

The American dollar added to gains today versus the Swiss Franc after strong CPI data, suggesting household gaining higher income which allows them to spend more. As a result, the market mean at 0.9056 remained untapped.

All support (0.9000; 0.8915; 0.8784) levels were not hit today, at the same time only the third resistance level at 0.9308 might be tested by bullish investors. The daily trading signals remain strongly bullish.