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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 15, 2017

EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 27, 2017

EUR/USD

The market turned bullish in the yesterday’s session by breaking above the important 1.17 level. This level has been the neckline of head and shoulder pattern and now it is broken above this region, this will effectively send this market higher towards the 1.21 level. Buy on dips will be the right strategy for this market until it goes below the 1.17 level. Going forward, the market is expected to continue the upside trend as US dollar will remain under pressure due to the failure of US Congress to pass the tax reform bill. …Read More

GBP/USD

The market went sideways through the Tuesday’s session as the 1.3050 level continued to offer support. The market is expected to go higher from here as it has been consolidating around this region for some time now. The market will eventually look to fill the gap down at the open on Monday. Going forward, the market will remain volatile as due to a lot of noise coming in from both the countries. The 1.3250 level will be the initial target for this market and then at 1.3333 level. …Read More

AUD/USD

The AUD was extremely volatile during the yesterday’s session as it was hammered down in every rally during the day. The pair is looking to break the 0.76 level which will send this market further lower towards the 0.75 level. The market is quite dull now due to the absence of any significant trigger to break higher. Sell on rallies will be the right strategy for this market until it successfully breaks above the 0.77 handle. …Read More

USD/JPY

The market initially tried to rally during the Tuesday’s session but got significant resistance at the 113.90 level to turn around. The pair reached the 113.50 level where it found support. The 113 level underneath will act as a floor of this market and will get enough upside pressure around this level which will eventually send this market towards the 114.50 level. The pair will remain volatile due to the noise around this market. In the longer term, the market will continue to favour the US dollar due to the favourable interest rate difference. …Read More

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This article was originally posted on FX Empire

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