November 20, 2012

Daily Market Rhythm: Week Starting November 19 2012

Daily Market Rhythm: Week Starting November 19 2012

eurusd daily market review

The EURUSD still have some steam to move up. It is now already reached the EMA 21 in the daily chart, altogether with SMA 200 after being supported by SMA 89 at around 1.2660. A break higher may lead the EURUSD to approach EMA 365 in the daily time-frame.

Finviz Market Heat map

The market heat-map all around the world all agree in greenie fashion. 

The EURUSD and other risky assets rally seen after the release of the better than expected US existing home sales and mostly due to news that the Eurogroup will provide a €44B aid tranche to Greece in December 5. The amount comes €12.5B higher than the figure agreed to.

EURJPY Daily Market Review
EURJPY Daily Chart
The EURJPY cross also show an upward movement, although not as enthusiast as last week amid stimulus measure of Japan's policymakers. Please be advised to closely watch the price action near the EMA 365, around 104.35.

XAUUSD Daily Chart
The uptrend of XAUUSD still intact. Expect to break the 1740 resistance for now as the market hunting the psychological level of 1750, next at 1800. The MACD shows an upward trend continuation signal.
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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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