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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 29, 2017

By:
Colin First
Published: Nov 29, 2017, 15:02 UTC

EUR/USD The pair was mostly sideways in yesterday's session but then pulled back to reach towards the 1.1860 level which is also the 38.2 % at Fibonacci

Forex Trading Signals - September 01, 2017

EUR/USD

The pair was mostly sideways in yesterday’s session but then pulled back to reach towards the 1.1860 level which is also the 38.2 % at Fibonacci Retracement level. The market is expected to get a bounce from here and given enough time it should reach 1.1950 level which is also the high of recent rally. The 1.18 level underneath is going to be the floor of this recent uptrend as it is also at the 61.8% in Fibonacci retracement. The market is expected to remain volatile in the next few sessions as tax reform bill in the US has passed a significant hurdle and is likely to be passed which will positively impact the dollar. …Read More

GBP/USD

The pair initially tried to rally above the 1.333 level on yesterday’s session but faced significant resistance to pullback towards the 1.3250 level. The area above was bit expensive and was a major resistance zone in the past also. If this market breaks the 1.32 level underneath, then the next support for the market will be at 1.30 level. Going forward, the market will remain volatile as the US passes its tax reform bill which will have a positive impact on the dollar. A break below 1.30 level then would be very negative for the market. …Read More

AUD/USD

The market was in a back and forth movement through the yesterday’s session, bouncing around the 0.76 level. Going higher, the market will face strong resistance at the 0.7650 level which could lead to market breaking down further. The market will remain difficult to trade due to an absence of any signals from the gold market. If gold prices breakout above the $1300 level it will be significant for the AUD which will send it above the 0.7650 level. …Read More

USD/JPY

The pair slightly rallied during the Tuesday’s trading session reaching towards the 111.50 level. The market from here will find significant resistance crossing above the 112 level and will eventually show signs of exhaustion. The immediate support for the pair is at 110 level and then at the 108 level which is the bottom of long-term consolidation. Going forward, the pair will be volatile as there might be some escalation of geopolitical tensions and the US Congress is also moving forward to pass the tax reform bill. …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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