30.11.201213:37 Forex Analysis & Reviews: Daily Trading Forecasts (November 30, 2012)

EURUSD: This week, the EURUSD pair encountered a serious threat to its bullish bias. After a deep dip of about 100 pips, the market rallied and has continued to do so. The RSI period 14 is heading towards the level 70, while the price stays above the EMA11. The price is currently above the line at 1.3000 and may reach the resistance line at 1.3050 if this bias keeps on unfolding.

USDCHF: Despite the serious northward correction in the price this week, the pair has continued its southward determination. The price is below the EMA 11 and the RSI 14 period is heading downwards the level 30. The price is testing the support level at 0.9250 and may break it downwards, while going further for the level at 0.9200.

GBPUSD: Equilibrium zones and correction. In spite of these, the cable remains bullish. The price is also above the EMA 11. If the price cuts the zone at 1.6050 to the upside, it may go up towards the distribution zone at 1.6100.  

USDJPY: The USDJPY pair was able to break upwards from the equilibrium zone it protractedly experienced earlier this week. The RSI period 14 is heading towards the level 70, and the price is far above the EMA 56. The territory at 82.50 has been broken to the upside, and the price might go further towards the supply territory at 83.00.

EURJPY: This cross cleanly rejected the bearish threat that was carried out in the middle of this week. The Williams’ % Range is already in the overbought region, as the price stays above the EMA 11. The price zone at 107.50 has already been attacked. If the upward bias continues, the supply zone at 108.00 might not be spared from that attack.