Forex Daily Outlook – November 5, 2018

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Published: Nov 5, 2018, 08:24 UTC

EUR/USD The Euro pared all its gain in the Friday's session breaking below the 1.14 level as the US added more jobs than expected in the October month. It

EUR/USD

The Euro pared all its gain in the Friday’s session breaking below the 1.14 level as the US added more jobs than expected in the October month. It is likely that the pair will continue to trade under pressure and might test the 1.1350 level, before getting a bounce. In the long term, the market will continue to consolidate between the 1.13 and 1.15 level. …Read More

GBP/USD

The British Pound struggled a bit above the 1.30 level in the Friday’s session after stronger than estimated job numbers were reported. At the close of Friday’s session, the pair had broken below the 1.30 level to settle at 1.2970 level. The bullish pressure is expected to continue, and if it breaks above 1.30 level again in the next one or two sessions, then this market can move much higher. …Read More

AUD/USD

The AUD lost the positive momentum in the Friday’s session breaking significantly to break below the 0.72 level. Better than expected job numbers and Fed raising the rates will keep the market under pressure for a longer period of time. The 0.71 level underneath will offer a strong support to the market and if it breaks then it will be very negative for the market. …Read More

USD/JPY

The USD gained a bit of bullish momentum in the Friday’s session after Non-Farm Payroll data came out. The pair is likely to continue moving higher on the back of positive data, but the geopolitical tensions will keep the market the noisy. If it can break above the 113.50 level, then it will attract enough buyers to take the market higher and dips will continue to offer great value. …Read More

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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.