Forex Daily Outlook – November 9, 2018

Colin First
EUR/USD daily chart, October 23, 2018
Money

EUR/USD

The Euro was choppy all through the Thursday’s session, finding it difficult to break above the 1.15 level, which has turned massively resistive. The pair is likely to move in a back and forth momentum in the next few session, till the noise around the US election settles down. Underneath, the 1.13 level will offer maximum support and will continue to consolidate between the 1.13 and 1.15 level. …Read More

GBP/USD

The British Pound initially rallied higher during the yesterday’s session, but immediately rolled over as soon as it touched the downtrend line, which is offering resistance. The bullish momentum in the pair is still intact and is likely to attempt to reach towards the 1.33 level. Underneath, the 1.30 level will be a strong support level, which extends down to the 1.27 level. …Read More

AUD/USD

The AUD managed to keep itself above the major downtrend line signifying strength in the market. The 0.7250 level is offering a bit of resistance that extends up to the 0.73 level. The bullish sentiment in the market is widely due to the outcome of US midterm election and increased possibility of review of trade policies between the US and China. If it manages to break above the 0.73 level, then it can easily reach towards the 0.75 level. …Read More

USD/JPY

The USD slightly rallied higher during the yesterday’s session against the JPY, but the 114.50 level is offering a bit of resistance. Currently, the pair is hovering around the 1.14 level and as the market is heading for the weekend, the pair is likely to remain stable. Underneath, the 113.50 level is the immediate support and extends down to the 112 level. The long-term outlook of the market is still bullish due to the wide interest rate differential. …Read More

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