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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 21, 2017

By:
Colin First
Published: Nov 21, 2017, 08:44 UTC

EUR/USD The pair was very volatile during the Monday's session as it reached the 1.18 level. The volatility in the counter is due to a political crisis in

Forex Trading Signals - October 06, 2017

EUR/USD

The pair was very volatile during the Monday’s session as it reached the 1.18 level. The volatility in the counter is due to a political crisis in Germany which has concerned people of another possible snap election. Germany has a huge impact on the performance and stability of the currency and political crisis could weigh upon the Euro. The market now is well supported at the 1.17 level underneath extending up to 1.1650 level. A break below this level could lead to the pair going towards the 1.13 level and if we break above the 1.18 level then 1.20 level above and 1.21 level eventually will be the next target. …Read More

GBP/USD

The pair initially fell lower during the Monday’s session but then rallied above the 1.3250 level. The market is now testing its support around the region and is likely to consolidate in the general vicinity. A positive trigger could help the market to go towards the 1.35 level and above. The market will be bit noisy in today’s session as the Mark Carney and other members of the Bank of England will testify before the Parliament today on inflation which will surely impact the forex market. The market is a bit difficult now and trading in small sizes are preferable. Buy on dips will be the right strategy to play this market. …Read More

AUD/USD

The AUD traded in a narrow range in Monday’s session ahead of the release of Monetary Policy Meeting Minutes. The AUD will be bit volatile during the next 24 hours as it factors in all the outcomes of the meeting minutes. A breakdown below the 0.75 level will be very negative for this market and will send this market towards the 0.7350 level. In the short term, the market will miss direction and needs to pay attention to the gold market for next strategy in this market. The 0.76 level above is a strong resistance zone for the pair and will be difficult for this market to break above. …Read More

USD/JPY

The pair rallied a little during the yesterday’s session reaching towards the 112.50 level as it got support from the 112 level. The yesterday’s rally has significantly improved the market sentiments as it broke down significantly in the last week. Going above the 113 level will eventually send this market towards the 114.50 level which was earlier a significant resistance zone. And, if the market breaks down below the 112 level the negative pressure will pull this market down towards the 108 level. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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