Strong US Core Retail Sales & Retail Sales (MoM), USD is set to rise !

US core Retail Sales (MoM) (Oct) rises to 0.3% above expectations 0.2% , US Retail Sales (MoM) (Oct) rises to 0.3% above expectations 0.2% , both indicators suggest further upside for the USD , focus now will be at next US data , US Michigan Consumer Sentiment (Nov) at 14:55 GMT , positive US data should accelerate the bullish move for USD , while negative data could bring a decline before the next rise !!

Let’s take a quick look at the market after US data :

EURUSD : it remains under pressure , short term resistance comes at the 1.2425 levels , stability below this level will build strong pressure on the 1.2393/12357 levels …above 1.2425 could mean a return to the 1.2480/1.2508 levels…conclusion : positive US data will resume the bearish move , negative data could delay the bearish move and bring rebound before the next fall ….anyway , as long as resistance 1.2425 holds on a 4 hour closing basis , a lower leg below 1.2357 levels is suggested !!!!

GBPUSD : On the 1 hour chart , as long as resistance 1.5645 holds on hourly closing basis , the pair remains very bearish and under heavy pressure , next support comes at the 1.5600 levels where a cut will open 1.5500 levels..On the upside , break of the 1.5645 levels on hourly basis will bring rebound towards the 1.5700 levels before the next fall..

USDJPY : As long as 115.85/ 116.28 holds on a 4 hour closing basis , the pair remains very bullish and looking for the 117.00 levels , further upside will aim the 118.00 levels , below 115.85 will bring a corrective pullback towards the 113.85 levels before the next rise !!!

USDCHF : As long as 0.9670  holds on a 4 hour closing basis , the pair remains bullish and looking for the 0.9741 levels , further upside will aim the 0.9840  levels , below 0.9670 will bring a corrective pullback towards the 0.9615 levels before the next rise !!!

AUDUSD : As long as 0.8676  holds on a 4 hour closing basis , the pair remains under pressure  and looking for the 0.8590 levels , further downside  will aim the 0.8540  levels , above  0.8676  will bring rebound towards the 0.8763 levels before the next possible fall !

USDCAD : As long as 1.1354  holds on a 4 hour closing basis , the pair remains bullish and looking for the 1.1400 levels , further upside will aim the 1.1466  levels , below 1.1354 will bring a corrective pullback towards the 1.1280 levels before the next rise !!!

NZDUSD :the pair is neutral at the moment , support at 0.7840 levels , losing this level on a 4 hour closing basis will bring free fall towards the 0.7745 levels ahead of the 0.7659 levels . On the upside , break of the 0.7875 levels on a 4 hour closing basis is needed to restore the upside offensive otherwise it remains neutral with risk to the downside !!!

MARKET DATA

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