For November 30th 2009

For November 30th 2009

Questions and suggestions? Contact me at [email protected] Any information contained in this document are based on or derived from information generally available to the public from sources believed to be reliable. There’s no representation or warranty is made or implied that it is accurate or complete. Any opinions expressed are subject to change without notice. This post has been prepared solely for information purposes and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy. Charts were generated using Alpari UK’s MetaTrader 4.0

EURUSD

Not held well above 1.4800 last week, and rallied higher as expected to as high as 1.5143 just short of the prior high at 1.5159. Subsequently, it went straight down on Thursday before the pair rebounded off the channel bottom near 1.4800. At the moment, it had erased nearly 61.8% of its losses since it fell off 1.5144. Key support is now seen at 1.4800 where it managed to hold ground for over two weeks. Below this means the ascending channel will be broken as well. Upside, resistances are seen at 1.5022, 1.5065, and then the last week’s high at 1.5144. The pair will be facing layers of more resistances beyond the latter, including the area between 1.5207 to 1.5223. Ultimately, the channel top will be somewhere around 1.5340-1.5380. For now, stay bullish while the pair holds above 1.4800. Look to enter LONG with stop below 1.4800 and set the objective at each aforementioned resistance levels.

GBPUSD

I missed on this one last week. Instead of mildly correcting its fall, cable jumped towards 1.6744 and fell afterwards, tripping the suggested stop point first before it met the expected target at near 1.6261. If however, anyone managed to catch the falling knife near 1.6261, the opportunity turned into a profitable trade as the pair bounced to close the week at 1.6495, over 200 points worth of rebound. Now, as it meets resistance at the 50% retracement level at 1.6506, its next hurdle will be at 1.6562 and then 1.6631. It seems that the pair is going to be rather volatile as we enter December. While the downfall was rapid enough on Thursday, the rejection on Friday after it briefly touched 1.6270 suggested that the downside might have been completed for now. Look to enter LONG, but keep a mild stop below 1.6460 (intraday swing low) and the objectives at 1.6562 and 1.6631 as cable is seen to be eyeing for a return to 1.6877. Alternatively, LONG entries could be entered gradually while keeping the stop a bit farther below 1.6250.

USDJPY

The biggest move last week was in USDJPY as it swept through the key low at 87.10 and reached 84.80. It set a bullish harami pattern on Friday, but it will take a breach of Friday’s high of 87.00 to weaken the bearish pressure. Additionally, last week’s high at 89.18 will have to be brushed aside to indicate that the downside has been completed, since both weekly and daily charts show the same pattern of consecutive lower lows and lower highs. What’s beyond 84.80, one may think. We still have historical low at 79.75, and before it we also have some fibonacci projections at 82.57 and 81.92. We even have another projection at 77.87. The market seems to be re-entering a volatile period next week as it digests the psychological breakout of 87.10 low and in addition the fear of another financial crisis breaking out, and this time it’s coming from Middle East. Nevertheless, for now the direction is still down with entry points suggested below 87.00. Immediate entry may be possible but keep stops tight as the Bank of Japan will likely sending remarks that may cause jitters in the market. Targets on the downside may refer to the supports at 84.80, 82.57, 81.92 and the historical low at 79.75. .

MARKET DATA – November 27th 2009 JAPAN - NIKKEI 225

Advantest Corp. Canon Inc. Daikin Industries Ltd. Honda Motor Co. Ltd Kyocera Corp Mitsubishi Estate Co. Ltd Nikon Corp Nippon Oil Corp Nippon Steel Corp Nissan Motor Co Ltd Sony Corp Sumitomo Metal Industries Ltd TDK Corp Tokyo Electron Ltd Toyota Motor Corp Nikkei 225 HONG KONG - HANG SENG INDEX

Bank of China Bank of Communications Bank of East Asia BOC Hongkong Ltd Cathay Pacific Air China Construction Bank Corp. China Life Insurance Company Ltd. China Merchants Holdings Co. Ltd. China Mobile China Overseas Land & Investment China Petroleum& Chemical Corp. China Resources Enterprise, Ltd. China Shenhua Energy Co. Ltd. China TelecomCorporation Ltd. CITIC Pacific Ltd. COSCO Pacific Ltd. Esprit Holdings Foxconn International Holdings Ltd. Hang Lung Properties Ltd. Henderson Land Development Co. Ltd. HK Electric Holdings Ltd. Hong Kong & China Gas Company Ltd. Hutchison Whampoa Ltd. Industrial & Commercial Bank of China Ltd. MTR Corporation Ltd. New World Development Company Ltd. PetroChina Company Ltd. Ping An Insurance Company of China Ltd. Sino Land Co. Ltd. Wharf Holdings Ltd. Hang Seng Index

Open 1,938 3,200 3,010 2,705 6,900 1,254 1,508 363 314 620 2,310 216 4,560 4,700 3,330 9,257.20

High 1,958 3,240 3,050 2,710 6,940 1,269 1,514 363 316 620 2,320 217 4,580 4,760 3,340 9,257.20

Low 1,881 3,180 2,950 2,645 6,730 1,246 1,466 355 309 602 2,255 212 4,450 4,610 3,290 9,076.41

Close 1,882 3,200 2,950 2,660 6,730 1,249 1,474 356 310 605 2,265 215 4,450 4,610 3,300 9,081.52

Prv Dy 1,964 3,290 3,060 2,765 6,980 1,271 1,559 368 323 634 2,370 221 4,610 4,760 3,380 9,383.24

Open High Low Close Prv Dy 4.22 4.27 4.11 4.13 4.35 8.99 9.12 8.62 8.82 9.19 34.00 34.30 32.85 33.30 34.95 17.98 18.10 17.40 17.58 18.50 13.18 13.20 12.74 12.90 13.24 6.68 6.80 6.52 6.56 6.88 39.00 39.20 37.30 37.60 39.95 24.00 24.00 22.80 22.90 24.55 73.05 73.35 71.15 71.85 74.35 16.40 16.50 15.98 16.18 16.64 6.50 6.54 6.25 6.35 6.61 24.25 24.50 23.05 23.45 24.85 37.50 37.80 35.80 36.70 38.55 3.46 3.50 3.31 3.32 3.52 20.80 20.80 19.92 20.05 21.25 10.70 10.70 10.12 10.28 10.88 52.50 53.35 50.15 50.80 54.05 6.71 6.73 6.47 6.49 6.78 28.55 29.30 27.50 27.85 29.00 53.80 54.00 51.05 51.45 54.80 42.10 42.15 41.50 41.65 41.90 18.60 18.80 17.84 18.02 18.84 52.75 52.90 51.20 51.45 53.05 6.42 6.53 6.21 6.25 6.62 26.55 26.80 26.10 26.30 26.70 15.66 15.86 15.50 15.56 16.06 9.69 9.71 9.20 9.39 9.87 71.85 72.30 69.50 70.00 74.10 14.30 14.36 13.94 14.10 14.72 41.60 41.90 39.55 40.30 42.30 21,623.92 21,685.13 21,002.49 21,134.50 22,210.41

Dy Chg -4.18% -2.74% -3.59% -3.80% -3.58% -1.73% -5.45% -3.26% -4.02% -4.57% -4.43% -2.71% -3.47% -3.15% -2.37% -3.22%

Prv Wk 2,030 3,400 3,200 2,725 7,040 1,270 1,592 380 318 621 2,410 217 4,650 4,860 3,440 9,497.68

Dy Chg Prv Wk -5.06% 4.72 -4.03% 9.60 -4.72% 33.10 -4.97% 18.78 -2.57% 13.52 -4.65% 7.11 -5.88% 38.45 -6.72% 24.90 -3.36% 76.55 -2.76% 16.74 -3.93% 6.67 -5.63% 24.85 -4.80% 38.30 -5.68% 3.49 -5.65% 21.15 -5.51% 11.06 -6.01% 53.30 -4.28% 6.60 -3.97% 30.00 -6.11% 54.30 -0.60% 42.15 -4.35% 18.70 -3.02% 53.55 -5.59% 6.75 -1.50% 26.90 -3.11% 16.18 -4.86% 9.95 -5.53% 70.25 -4.21% 14.32 -4.73% 40.45 -4.84% 22,455.84

Wk Chg -7.29% -5.88% -7.81% -2.39% -4.40% -1.65% -7.41% -6.32% -2.52% -2.58% -6.02% -0.92% -4.30% -5.14% -4.07% -4.38% Wk Chg -12.50% -8.12% 0.60% -6.39% -4.59% -7.74% -2.21% -8.03% -6.14% -3.35% -4.80% -5.63% -4.18% -4.87% -5.20% -7.05% -4.69% -1.67% -7.17% -5.25% -1.19% -3.64% -3.92% -7.41% -2.23% -3.83% -5.63% -0.36% -1.54% -0.37% -5.88%

Author’s Note I am suspending the CFDs and JSX chart analysis for now because I would like to shift back to currencies. Analysis will be made just after the US markets closed and before the Asian markets open. Asian stocks including JSX analysis will be resumed later after I am making some adjustments to the selected stocks to be analyzed.