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Daily Pivots: (S1) 1.1352; (P) 1.1387; (R1) 1.1416; More...

Intraday bias in EUR/CHF remains neutral first. Another fall is in favor as long as 1.1470 minor resistance holds. On the downside below 1.1334 will resume the decline from 1.1501 and target 1.1154/98 key support zone again. On the upside, break of 1.1470 will turn focus back to 1.1501. Decisive break of 1.1501 will revive the case of bullish reversal.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1243) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend. In that case, 1.0629 key support will be back into focus.

Daily Pivots: (S1) 0.8660; (P) 0.8709; (R1) 0.8757; More...

Intraday bias in EUR/GBP remains neutral for the moment. Further decline is expected as long as 0.8873 minor resistance holds. Break of 0.8655 will resume the whole fall from 0.9098 for 0.8620 support first. Break will target 100% projection of 0.9098 to 0.8722 from 0.8939 at 0.8563 next. However, break of 0.8773 minor resistance will turn focus back to 0.8939 resistance instead.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Medium term fall from 0.9305 is possibly in progress and could extend through 0.8620. On the upside, break of 0.8939 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain cautiously bearish even in case of rebound.

For the 24 hours to 23:00 GMT, the EUR remained unchanged against the USD and closed at 1.1316.

Data indicated that the Euro-zone's seasonally adjusted second estimate of gross domestic product (GDP) advanced at its weakest pace in four years by 0.2% on a quarterly basis in 3Q 2018, in line with market expectations and confirming the preliminary figures. The GDP had advanced 0.4% in the prior quarter. On the contrary, the region's seasonally adjusted industrial production slid 0.3% on a monthly basis in September, less than market expectations for a fall of 0.4%. Industrial production had recorded a gain of 1.0% in the previous month.

Separately, in Germany, the seasonally adjusted preliminary gross domestic product (GDP) eased 0.2% on a quarterly basis in the third quarter of 2018, shrinking for the first time since 2015 and higher than market expectations for a fall of 0.1%. In the preceding quarter, the GDP had recorded a rise of 0.5%.

In the US, data showed that the US consumer price index (CPI) climbed 2.5% on a yearly basis in October, in line with market expectations and notching its highest level in 9-months. The CPI had recorded an increase of 2.3% in the prior month. On the other hand, the nation's MBA mortgage applications dropped to its lowest level in 18-years by 3.2% on a weekly basis in the week ended 09 November 2018, following a revised decline of 0.7% in the previous week.

In the Asian session, at GMT0400, the pair is trading at 1.1331, with the EUR trading 0.13% higher against the USD from yesterday's close.

The pair is expected to find support at 1.1280, and a fall through could take it to the next support level of 1.1229. The pair is expected to find its first resistance at 1.1365, and a rise through could take it to the next resistance level of 1.1399.

Looking ahead, traders will closely monitor the Euro-zone's trade balance data for September, slated to release in a few hours. Later in the day, the US Empire state manufacturing index, advance retail sales and the Philadelphia Fed business outlook, all for November, along with business inventories for September will keep investors on their toes. Also, the US initial jobless claims, will pique significant amount of investors' attention.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the GBP declined 0.25% against the USD and closed at 1.2995, amid reports that British Prime Minister, Theresa May, could face no confidence vote.

On the macro front, UK's consumer price index (CPI) climbed 2.4% on an annual basis in October, compared to a similar rise in the prior month. Market participants had envisaged the CPI to advance 2.5%. Additionally, the nation's retail price index rose 3.3% on a yearly basis in October, falling short of market anticipation for a gain of 3.4%. In the preceding month, the index had registered a similar rise. Also, the house price index jumped 3.5% on an annual basis in September, overshooting market expectations for a climb of 3.2%. The index had recorded a revised rise of 3.1% in the prior month. Further, the non-seasonally adjusted output producer price index (PPI) climbed 3.3% on a yearly basis in October, more than market expectations. The output PPI had risen 3.1% in the previous month.

In the Asian session, at GMT0400, the pair is trading at 1.3005, with the GBP trading 0.08% higher against the USD from yesterday's close, after the UK Cabinet approved President, Theresa May's draft Brexit plan.

The pair is expected to find support at 1.2901, and a fall through could take it to the next support level of 1.2796. The pair is expected to find its first resistance at 1.3091, and a rise through could take it to the next resistance level of 1.3176.

Moving forward, investors would await UK's retail sales for October, set to release in a few hours

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD declined 0.14% against the JPY and closed at 113.62.

In the Asian session, at GMT0400, the pair is trading at 113.47, with the USD trading 0.13% lower against the JPY from yesterday’s close.

Overnight data showed that, in Japan, housing loans climbed 2.4% on an annual basis in 3Q18. Housing loans had recorded a rise of 2.7% in the previous quarter.

The pair is expected to find support at 113.18, and a fall through could take it to the next support level of 112.88. The pair is expected to find its first resistance at 113.89, and a rise through could take it to the next resistance level of 114.30.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD declined 0.05% against the CHF and closed at 1.0061.

In the Asian session, at GMT0400, the pair is trading at 1.0057, with the USD trading slightly lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0031, and a fall through could take it to the next support level of 1.0006. The pair is expected to find its first resistance at 1.0093, and a rise through could take it to the next resistance level of 1.0130.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further directions.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CAD and closed at 1.3241.

In the Asian session, at GMT0400, the pair is trading at 1.3233, with the USD trading 0.06% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3206, and a fall through could take it to the next support level of 1.3179. The pair is expected to find its first resistance at 1.3262, and a rise through could take it to the next resistance level of 1.3291.

Trading trend in the Loonie today is expected to be determined by Canada’s existing home sales data for October, scheduled to release later in the day.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the AUD rose 0.18% against the USD and closed at 0.7235.

LME Copper prices declined 0.4% or $24.0/MT to $6106.0/MT. Aluminium prices rose 0.3% or $6.0/MT to $1931.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7273, with the AUD trading 0.53% higher against the USD from yesterday's close.

Overnight data indicated that Australia's seasonally adjusted unemployment rate remained steady at 5.0% in October. Meanwhile, consumer inflation expectations recorded a drop to 3.6% in November. In the prior month, the consumer inflation expectations had recorded a level of 4.0%.

The pair is expected to find support at 0.7213, and a fall through could take it to the next support level of 0.7154. The pair is expected to find its first resistance at 0.7307, and a rise through could take it to the next resistance level of 0.7342.

Amid lack of economic releases in Australia today, traders would focus on global macroeconomic events for further direction.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Gold rose 0.64% against the USD and closed at USD1211.40 per ounce.

In the Asian session, at GMT0400, the pair is trading at 1210.90, with gold trading a tad lower against the USD from yesterday’s close.

The pair is expected to find support at 1200.27, and a fall through could take it to the next support level of 1189.63. The pair is expected to find its first resistance at 1219.37, and a rise through could take it to the next resistance level of 1227.83.

The yellow metal is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Silver rose 0.86% against the USD and closed at USD14.10 per ounce, tracking gains in gold prices.

In the Asian session, at GMT0400, the pair is trading at 14.12, with silver trading 0.11% higher against the USD from yesterday’s close.

The pair is expected to find support at 13.93, and a fall through could take it to the next support level of 13.74. The pair is expected to find its first resistance at 14.24, and a rise through could take it to the next resistance level of 14.36.

The white metal is trading above its 20 Hr and 50 Hr moving averages.