Forex Daily Outlook – November 15, 2018

By:

Published: Nov 15, 2018, 10:29 UTC

EUR/USD The pair continued to witness extreme volatility, initially pulling back a bit in the Wednesday's session but then turned around to break above

EUR/USD

The pair continued to witness extreme volatility, initially pulling back a bit in the Wednesday’s session but then turned around to break above the 1.13 level, showing resiliency around the major levels. The market has not fully recovered from the bearish trend, and short-term rallies will offer a great selling opportunity. The 1.1350 level above is extremely resistive and will be difficult for the market to break above. …Read More

GBP/USD

The market initially pulled back to the 1.29 level in the Wednesday’s session but gained enough strength to start rallying and break above the 1.30 level. The short downtrend line above is proving to be a bit resistive and if it breaks above, then it will be bullish for the market and could reach higher towards the 1.3250 level. However, this market will continue to be volatile and 1.27 level will be a major support point underneath. …Read More

AUD/USD

The AUD initially fell during the Wednesday’s session but then turned around to reach towards the 0.72 level. The market is experiencing a lot of noise around the 0.7250 level and it will be difficult to break above that region given the weak fundamental support. Support for the market extends down to the 0.71 level and 0.70 level. …Read More

USD/JPY

The USD initially rallied a bit but is showing signs of exhaustion around the 114 level, which is hammering the pair down. The break above 114.50 and 115 level will change the whole scenario for the market, but at this moment, it looks difficult. The market has multiple support points underneath extending down to the 112 level. …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.