Big moves at the end of November

Today we had some big moves. Pretty fast prices reached levels i suggested in the morning as targets and possible turning points (http://forexoholic.blogspot.com/2010/11/after-weekend-situation.html).

Dollar index currently at 81.00, resistance level on daily chart:

Euro index at first support 106.10 with another one lower at 104.00.

Eurusd went through 1.31 and tested 1.3065, currently at 1.3090 looking for support around here as suggest euro and dollar indexes.

Gbpusd fall trough first support level at 1.566 and trading at 1.555 at the moment/ This level is also a little support, with another one - bigger - 100 pips lower.

After weekend situation

Eurusd has slightly breached its up trend line on daily chart, however euro index is currently trading at support level 106.70 - 106.10, with another support level little lower at 104.00. This could stop Eurusd from falling lower, before making a decent correction first.

Dollar index has also slightly breach its first supply level at 80.00, but its coming back. Remember that there is another supply (resistance) level just above it at 81.00 - 81.50. You can see both of these levels at daily and h4 timeframes.

We can get a clue also by looking at Usdchf pair, currently at a little supply level. It has tried before to visit this level but supply was so strong that i didnt quite make it and dropped in strong fashion just below 1.00. After reaching demand level at 0.9550 it started pulling back slowly, currently trading at 1.00 level again.

Pound..

After break of the uptrendline, price has dropped straight to its first support at 1.5680. Next support (demand) levels are 1.5570 and 1.5450 as you can see below:. Best long entries will appear when dollar index reaches its resistance level coming at 81.00.

Euro breakout?

S&P 500 did react to that first supply level mentioned few posts earlier, causing Euro to slightly breach its up trendline on daily chart. 

Dollar index is still trading around 80.00, looking to break it and move to the next resistance (supply) level  between 81.00 - 81.50.

I wouldnt say it is a breakout yet on Euro, at least not on daily chart, still need a confirmation.

Dollar situation

  

Dollar index has arrived to its first target - 80.00. This is a little level where it dropped from previously (you can see it on h4 chart presented). Plus there is another level just above it, 81.00 - 81.50, which could put even more pressure to the downside.


Usdchf is trading in a channel, currently under the upper channel band and some minor resistance, as well as key 1.000 level.

Euro at support

Eurusd is currently sitting on an uptrendline with oscilator in oversold area, slowly curving to the upside. There is also support which was broken resistance excatly 2 months ago. If it moves to the upside, first targets will be around 1.37 and 1.40 - those are supply levels, where the price has dropped from.

Euro update

 On the left there is a little cluster of candles which creates a minor support (you can see it better on h4 timeframe), also up trendline on daily chart. Watch for confirmations to enter either short after break of the trendline, or long if it holds.

S&P 500 and Euro situation

S&P 500 is currently trading at intraday resistance, Stochastic is in overbought area.. 1200 - 1205 should not be passed easly.

Also if we look at weekly chart below, we can notice that price has dropped from this area before. Stochastic is overbought and curving down, giving confirmation for short entries.

Situation on S&P 500 can be also applied to EurUsd, currently trading at 1.3350, heading towards its support at 1.31 - 1.30. There is not much on the left to stop the price from dropping to that little level marked in blue.