Forex Daily Outlook – November 30, 2018

Colin First
Forex Euro

EUR/USD

After rallying significantly in the Wednesday’s session, the pair now is witnessing a lot of resistance breaking above the 1.14 threshold. The area above is a lot resistive which extends up to the 1.15 level. The market is likely to continue experience bullish pressure due to Fed’s dovish stance on rate hike but the issues surrounding the EU will also impact the pair negatively. …Read More

GBP/USD

The British Pound initially tried to rally in the Thursday’s session but failed to keep the gains around the 1.2850 level and has rolled over significantly to reach towards the 1.2750 level. The 1.27 level underneath is massively supportive and if it breaks down below this level, then it could break down towards the 1.22 level. …Read More

AUD/USD

The AUD continued to hold on the gains in the Thursday’s session and trying to reach towards the 0.7350 level. The market looks to factor in all the negative news surrounding the AUD and also has broken through the downtrend line which is bit positive. The market is looking forward to the G-20 meet over the weekend and if it manages to break above the 0.7350 level, then its likely to target the 0.75 level. …Read More

USD/JPY

The USD continued sideways against the JPY in yesterday’s session, with slight negative pressure around the pair. The market will probably struggle around to break above due to the speech by Jerome Powell indicating Fed’s dovish stance on rate hikes. The 113 level underneath is a strong support level and a break below will attract sellers back into the market and hammer the pair towards the 111 level. …Read More

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