EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 22, 2017

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Published: Nov 22, 2017, 08:48 UTC

EUR/USD The pair traded on a very silent note during the Tuesday's session initially went in a sideways direction but then moved a bit lower to test the

EUR/USD

The pair traded on a very silent note during the Tuesday’s session initially went in a sideways direction but then moved a bit lower to test the 1.1720 level underneath. The 1.17 level underneath is a massive support region for this pair and will attract buyer into the market. There are some concerns regarding the political crisis in Germany which could impact the EURO itself way forward. If this market bounce from the 1.17 level then eventually it will go towards the 1.18 level. …Read More

GBP/USD

The pair continued to be very choppy during the yesterday’s session as it is bouncing from the 1.32 level underneath. The positive trendline is acting as a support for this market and will eventually build a necessary bullish pressure to break out upside towards the 1.35 level. Alternatively, if this market breaks below the 1.32 level then it will cause the market to break down further towards the 1.31 and 1.3050 level. Right now, buy on dips will be the right strategy to play this market until it breaks below the 1.32 level. …Read More

AUD/USD

Initially, the pair went in a sideways direction on the Tuesday’s session but then moved higher significantly using the RBA announcement as a bit of a catalyst. The market somehow is going to struggle near the 0.76 level as lack of any global trigger. On the hourly chart, stochastic oscillator showing signs of exhaustion as it is trying to go below the overbought area. If this market goes below the 0.7560 level then it will send this market further lower towards the 0.75 level and then 0.7350 level eventually. …Read More

USD/JPY

The market has turned a bit volatile after it tested the support at 112 level in the last two sessions. In yesterday’s session, the market initially went in a sideways direction but then fell down towards the 112 level. If this market retains the 112 level then the buyer will get into to take the prices towards 114.50 level and if it breaks below then the market is likely to reach the 108 level underneath. The volatility is expected to increase as the market in the US approaching the Thanksgiving holiday which will result in drying up liquidity. …Read More

About the Author

Colin Firstauthor

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