Daily Market Forecast, November 30, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

The Pound continued to rumble higher on Wednesday as positive sentiment mounted because of a potential Brexit deal with the European Union. Gold experienced volatile trading, and the Euro remained rather tranquil in a tight trading range.

GBP/USD: Gains Mount for Pound

The Pound’s gains mounted on Wednesday as better sentiment regarding the potential for a Brexit deal with the European Union has emerged. The Pound is near 1.3460 against the U.S Dollar. The British currency is still below its September highs, and traders may continue to believe it will search for upwards value.

Gold: Wild Day for the Precious Metal

Gold is near 1281.00 U.S Dollars an ounce this morning after a wild twenty-four hours. Volatility rocked the precious metal on Wednesday as it reversed from high water marks, tested lows and then tried to climb again. Gold remains below its values from early this week and speculators may stay buyers in the near term.

EUR/USD: Is the Euro Undervalued?

The Euro delivered a tranquil performance against the U.S Dollar yesterday. The European currency is near 1.1860 against the U.S Dollar. The Euro remains below its short-term highs and may be considered undervalued by some investors.

USD/JPY: Weakened Yen and Dynamic Range   

The Yen has lost ground against the U.S Dollar and is near the 112.00 juncture. After showing strength early this week, the Japanese currency has weakened. The Yen’s trading range may continue to prove dynamic as signs of nervous trading shadow the broad markets.

Crude Oil: Is Crude Oil a Selling Opportunity?

Crude Oil did not provide fireworks on Wednesday, even as the OPEC summit got underway. The commodity did put in slight gains, but they were modest at best. U.S Crude Oil remains under 58.00 U.S Dollars a barrel and traders may see the commodity’s current value as a selling opportunity.

Yaron Mazor is a senior analyst at SuperTraderTV.

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