Daily Technical Market Out Look

US Dollar Struggling To Settle Above 1.2800 (09-Nov-2017    at   11:53:31 am)

The US Dollar recovered nicely from the 1.2702 low against the Canadian Dollar. However, the 

USD/CAD pair failed at 1.2818 and started a sharp downside move. It seems like a crucial 

bearish trend line with resistance at 1.2775 on the 4-hours chart protected gains above 1.2810-

20. The pair is now well below 1.2800, the 100 (red) and 200 (green) simple moving averages 

 (hourly).

Market Update - Asian Session: China CPI Comes In Hot (09-Nov-2017    at   11:41:44 am)

Asian equity markets are trading generally higher, after most of the US stock indices ended in 

positive territory on Wednesday. The MSCI Asia Pacific Index has traded near fresh record 

highs. The Nikkei 225 has rallied by over 2%. Index-component Fast Retailing has gained over 

2.7%, while the overall TOPIX Retail Trade index has risen by more than 0.9%. The TOPIX 

Securities broker index has gained over 1.5%, amid the gains in the equity markets.

Australia's Home Loan Approvals Surprisingly Declined In September (09-Nov-2017    at   11:39:48 am)

The pair is expected to find support at 0.7653, and a fall through could take it to the next 

support level of 0.7627. The pair is expected to find its first resistance at 0.7698, and a rise 

through could take it to the next resistance level of 0.7717.

Euro Trading A Tad Lower In The Asian Session (09-Nov-2017    at   11:38:00 am)

The pair is expected to find support at 1.1578, and a fall through could take it to the next 

support level of 1.1562. The pair is expected to find its first resistance at 1.1610, and a rise 

through could take it to the next resistance level of 1.1626.

Pound Trading On A Stronger Footing This Morning (09-Nov-2017    at   11:37:00 am)

The pair is expected to find support at 1.3085, and a fall through could take it to the next 

support level of 1.3044. The pair is expected to find its first resistance at 1.3170, and a rise 

through could take it to the next resistance level of 1.3214.

Japan's Machinery Orders Plunged To A More Than 2-Year Low In September (09-Nov-2017    at   11:29:02 am)

The pair is expected to find support at 113.58, and a fall through could take it to the next 

support level of 113.15. The pair is expected to find its first resistance at 114.25, and a rise 

through could take it to the next resistance level of 114.49.

Canada's Housing Starts Surprisingly Rose In October, Building Permits Exceeded Market Expectations In September (09-Nov-2017    at   11:27:55 am)

The pair is expected to find support at 0.9985, and a fall through could take it to the next 

support level of 0.9971. The pair is expected to find its first resistance at 1.0010, and a rise 

through could take it to the next resistance level of 1.0021.

Canada's Housing Starts Surprisingly Rose In October, Building Permits Exceeded Market Expectations In September (09-Nov-2017    at   11:24:37 am)

The pair is expected to find support at 1.2709, and a fall through could take it to the next 

support level of 1.2683. The pair is expected to find its first resistance at 1.2768, and a rise 

through could take it to the next resistance level of 1.2801.

It's Blustery But Going Nowhere (09-Nov-2017    at   06:59:13 am)

It's blustery out here as the markets get caught up in a vortex of political discourse, and like a 

deer in the headlight, traders have no idea which way to turn. Expect price action to remain 

fickle at best as Treasury prices have barely moved, with the curve consolidating at the flattest 

levels in a decade