DAILY FOREX MARKET ANALYSIS

NOVEMBER 7, 2014

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CURRENCY ANALYSIS POSSIBLE TRADES

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MAIN HIGHLIGHTS

I. WEAK CANDLES, FALSE BREAKOUTS

II. MONTHLY RANGES

III. TRADING WITHIN LARGE CONSOLIDATIONS

TODAYS PAIRS

GBP CHF

USD CAD

CHF JPY

CAD JPY

CURRENCY ANALYSIS

GBP CHF

DAILY CHART

In a Range above the Inner Uptrend Line;

DAILY CHART

Needs a Strong break of the Uptrend Line to head back down to the Support of the large Consolidation;

USD CAD

DAILY CHART

In a strong Uptrend;

DAILY CHART

Has pulled back to the Resistance of the Range following the weak breakout;

Could be either testing the Pennant before resuming the Breakout or starting a trend reversal;

CHF JPY

DAILY CHART

In a Pennant above the Uptrend Line;

DAILY CHART

Has broken sharply above Resistance, exceeding its Monthly Range - pullback necessary/expected before the resumption of the Breakout;

CAD JPY

DAILY CHART

In a Pennant above the Inner Uptrend Line;

DAILY CHART

Has broken out of the Pennant and exceeded its Monthly Range (MR);

Expect/Requires a pullback that tests Resistance or comes close to it if it is going to resume the breakout;

POSSIBLE TRADES NEXT FEW DAYS

PAIR SETUPS & SIGNALSGBP USD Bearish break of PennantUSD CAD Bearish/Bullish Pennant Break

GBP USD

USD CAD

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