Forex Daily Outlook – November 27, 2018

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Published: Nov 27, 2018, 09:53 UTC

EUR/USD The Euro tried bouncing higher during the Monday's session but failed and has broken through the 1.1350 level. With a weak set economic numbers

EUR/USD

The Euro tried bouncing higher during the Monday’s session but failed and has broken through the 1.1350 level. With a weak set economic numbers from the European Union and concerns regarding the Italian debt crisis, the European Central Bank (ECB) is likely to keep the monetary policy soft. The 1.14 level above is massively resistive, and currently, rallies in the market are great selling opportunities. …Read More

GBP/USD

The British Pound moved a little during the yesterday’s session, hovering around the 1.28 level. The market is experiencing a bit of support as EU and Teresa May is likely to have come to an agreement but the situation is not too rosy to support the pair higher. The 1.2850 level above will be providing enough resistance and the market will struggle. The 1.27 level underneath continues to be massively resistive and attract a lot of attention. …Read More

AUD/USD

The AUD started the week with a positive note but as the day progressed, the market started to show signs of exhaustion above the 0.7250 level and rolled back. There is no change in the fundamental situation of the pair and rallied will continue to be a nice selling opportunity. The 0.70 level underneath continues to be a major support point and if it breaks down below this point, it will reach down to the 0.68 level. …Read More

USD/JPY

The USD rallied during the yesterday’s session against the JPY, reaching towards the 113.50 level. The pair is highly correlated to the S&P 500 index and is following the movement closely along with the overall risk appetite. The 114.50 level above is massively resistive which extends up to the 115 level. If the market breaks down the 113 level, then it will definitely reach towards the 111.50 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.