Forex Daily Outlook – November 26, 2018

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Published: Nov 26, 2018, 07:27 UTC

EUR/USD The Euro continued to struggle during the Friday's session as the 1.14 level above is offering a lot of resistance. The pair is also suffering due

EUR/USD

The Euro continued to struggle during the Friday’s session as the 1.14 level above is offering a lot of resistance. The pair is also suffering due to negative Brexit headlines, Italy debt crisis coupled with weak economic numbers from the European Union. The hawkish stance of the Fed is also keeping the market under pressure. The 1.13 level underneath is a major support and if it breaks below, then it could even reach 1.11 level. …Read More

GBP/USD

The market continued to trade volatile in the Friday’s session, mainly due to the Brexit headlines. The overall attitude of the market remains weak and tricking algo traders to buying selling this pair extensively. The 1.27 level underneath is a major support level for the pair and could further break the pair towards the 1.25 level. In the higher side, the 1.2850 level is extremely resistive. …Read More

AUD/USD

The AUD has broken slightly lower during the Friday’s session as the 200 Day EMA continues to offer resistance. The AUD has been stable for past few session, but the fundamentals of the pair remain weak due to worsening US-China trade relations. Currently, the 0.70 level is offering the massive support with major resistance at 0.75 level. …Read More

USD/JPY

The USD has drifted slightly lower during the Friday’s session as it continued to dance around the 50 Day EMA. The overall attitude of the market is a bit positive as it is successfully holding above the 113 level and if it breaks down, then it can damage the whole momentum. An increase in interest rate by Fed will eventually help the market to break above the 115 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.