Daily Market Forecast, November 29, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

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Published: Nov 29, 2017, 09:08 GMT+00:00

Forex markets have remained calm as news about a new test launch from North Korea has taken place. The Pound has gained and the Euro has lost value the

Forex markets have remained calm as news about a new test launch from North Korea has taken place. The Pound has gained and the Euro has lost value the past day. Gold has gained but is near critical resistance levels.

EUR/USD: Upside Reversal Opportunities

The Euro faced headwinds on Tuesday and is near 1.1850 against the U.S Dollar. After making solid gains late last week, the Euro has experienced selling two days in a row. Speculators may begin to look for upside reversals today as an opportunity.

Gold: Short-Term Momentum Sustained

Gold has added value in early trading this morning and is near 1296.00 U.S Dollars an ounce. The precious metal is approaching critical resistance but may attract traders who are risk averse and also believe the commodity will be able to sustain its short-term momentum.

GBP/USD: Intense Trading Environment

The Pound has delivered an intense trading environment early this week. The British currency gained yesterday after losing ground on Monday. And the Pound is again challenging higher values and is near 1.3360 against the U.S Dollar. The Pound may lure investors who think additional value can be found near term.

USD/JPY: Additional Incremental Strength Possible

The Yen has been trading in range early this week, and remains near 111.50 against the U.S Dollar. North Korean politics has flared into focus again this morning, but Asian traders have been calm. The Yen may add incremental value in the short term.

Crude Oil: Traders Stay Alert for OPEC News

Crude Oil finds itself oscillating near 57.50 U.S Dollars a barrel. Opec will be conducting its meetings today and tomorrow per its schedule and traders need to remain alert for developments. However, Crude Oil has seen downside pressure the past few days.

Yaron Mazor is a senior analyst at SuperTraderTV.

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About the Author

Yaron Mazorcontributor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.

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