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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 24, 2017

By:
Colin First
Published: Nov 24, 2017, 08:05 UTC

EUR/USD The market slightly rallied during the Thursday's session, reaching towards the 1.1850 level. The market has gained enough bullish strength to

Forex Trading Signals - November 10, 2017

EUR/USD

The market slightly rallied during the Thursday’s session, reaching towards the 1.1850 level. The market has gained enough bullish strength to break higher towards the 1.21 level in coming sessions. Moreover, because of dovish outlook coming out from the FOMC meeting on the rate hike will support this market to go upside. Buying dips will be an excellent strategy at this point. In lower side, 1.18 level will be the immediate support for this market and 1.17 level will essentially the floor of this market. …Read More

GBP/USD

The market initially tried to rally on the Thursday’s session but the 1.33 level found to be very resistive and the market eventually went a bit lower. A break above 1.33 level would have been an extraordinarily bullish sign and should have sent this market towards 1.35 level. The 1.3250 level underneath is very supportive. Buying into dips will be an excellent strategy until it breaks below the 1.32 level. Looking ahead, the market will remain volatile due to the issues related to Brexit and rate hike by Fed. …Read More

AUD/USD

The AUD went undefended against the US dollar in the Thursday’s session because of Americans staying away from the market on account of Thanksgiving. The market is trying to break above the 0.76 level which will help to negate some of the negative sentiments. If this market again below then it will go much lower below the 0.75 level and if it breaks above then it could perhaps go towards the 0.7750 level. Next few session in the market is going to be extremely volatile as the US dollar index is trading near its month low level due to dovish outlook from Fed and it will be somewhat difficult to trade. …Read More

USD/JPY

The market was very stable during the yesterday session due to lack of liquidity as Americans celebrated Thanksgiving. The market hovered around the 111 level through the day. The break below the 112 level in Wednesday’s session was very negative for the market and will send this market further lower from the current level. Dovish outlook coming out from FOMC meeting and Congress inability to pass the tax reform bill will have huge negative pressure on dollar. Unless this market breaks above the 112 level, selling pressure will continue. …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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