EURUSD daily Technical analysis November -30:news.fxbase

Friday EURUSD market Started from 1.29800. After some hours we got an uptrend. We can expect some changes in the uptrend due to ECB news release. So we can see positive or negative movements in EURUSD more today.

Yesterday Market got a good buy level. The news releases made the market to go up which may continue today also.

After ECB news we can get some opposite movement from this stage.

Pivot Point Details:

see fig 

This is the pivot point values for today EURUSD.Market started from Pivot level

P-1.2976 and It can expect Resistance R1-1.3015 and also Support level S1-1.2940. After ECB news announcement we can expect R2 -1.3051 and S2-1.2901 also.

see fig

CCI Values:

Today morning market opened time CCI values was in the position of -21.954.  After some hours it touched +100.00 (see Fig). So market is so good for buyers at morning time.

And also yesterday market was very good for buyers because of news announcements.

But today it will go down trend side and after ECB news announcement it can get a Short term.

In CCI we can expect sell trend today.

News Details:

Our markets watch team has given the detail about Today’s news Analysis.

FXBase Market analysis team says, 

”

We have ECB speech today. So by that time we can get a positive or negative changes.

ECB President Draghi Speaks 8:00(GMT) EUR High Impact news

       The European Central Bank is the central bank for euro area which has adopted the euro. One of ECB’s important tasks is to set and implement European Monetary policy. This includes the use of the interest rate tool. The main objective of ECB is price stability or an inflation level of maximum 2% for the euro zone. The ECB offers banks the facility to borrow money from it.

       Today in his speech he says about which controls the short-term interest rate and also he has more influence over the EUR value than any other person. If his comments agree the short-term interest rate the EUR can move in uptrend, otherwise it moves in downtrend.

So short term traders use this to earn more Take Profit. It is good For Short term traders sure.

Also we have some low level news announcements today .They are listed below.

French Consumer Spending (MOM) 7:45(GMT) EUR Medium impact news

       French Consumer Spending is used to measure the changes in the inflation-adjusted value of all goods expenditures by consumers. The Forecasted value is -0.1% if the actual value is greater than forecasted value the EUR can move in the uptrend, otherwise it moves in downtrend.

Unemployment Rate 10:00 (GMT) EUR Medium impact news

      Unemployment rate is used to measure the percentage of total labor force that is unemployed but actively seeking employment and willing to work. The unemployment rate is considered a lagging indicator confirming but not foreshadowing for long-term market trends.

     The forecasted value is 11.7% if the actual value is greater than forecasted value means the EUR can move in the downtrend, otherwise it moves in the uptrend.

CPI (YOY) 10:00 (GMT) EUR Medium impact news 

      Consumer Price Index (CPI) is used to measure the changes in the price of goods and services from the views of the consumer. It is a key way to measure changes in purchasing trends and inflation. The forecasted value is 2.4% is the actual value is greater than forecasted value means EUR can move in the uptrend, otherwise it moves in downtrend.

Core PCE Price Index (MOM) 13:30 (GMT) USD Medium impact news

    The Core Personal Consumption spending (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. The forecasted value is 0.2% the actual value is greater than forecasted value means USD can move in the uptrend, otherwise it moves in downtrend.

Chicago PMI 14:45 (GMT) USD Medium impact news

The Chicago Purchasing Managers' Index (PMI) determines the economic health of the manufacturing sector in Chicago region. A reading above 50 indicates expansion of the manufacturing sector; a reading below indicates contraction.

”

So the final report is that the market will reach R1 - 1.3015 soon & P- 1.2976 again also in uptrend side today and also in downtrend side we can expect the market to cross Support  level of S1- 1.2940 after ECB announcement 

sure.