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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 14, 2017

Colin First
The only event of note today was the speech from Draghi which happened during the London session where he expressed his continued concern with the inflation. We have seen that the incoming data from the Eurozone has continued to be good, especially the ones from Germany but that seems to be having little effect on … Continue reading Market Snapshot – Dovish Draghi Helps the Stock Markets

EUR/USD

The pair went lower at the open of Monday’s session reaching down towards the 1.1650 level and eventually got a bounce reaching towards the 1.17 level. This region has been the strong resistance for this market as it is the neckline from the head and shoulders on the daily chart. The volatility in the counter is mainly due to dual factor. First, ECB’s decision to extend the QE which has put pressure on the Euro.And, secondly due to issues in US dollar as problems relating to the passing of tax reform bill in the U.S Congress. The 1.1725 and 1.13 level is playing out to be the important level for this market. …Read More

GBP/USD

The pair gapped lower at the open during the Monday’s session reaching down towards the 1.3050 level. This level has been the bottom of consolidation and buyers are likely to return from here. A small bounce at the bottom in yesterday’s session confirms the same. The 1.30 level will essentially act as a floor of this market. Looking ahead the market will remain volatile and 1.3250 level on the higher side will be resistive. …Read More

AUD/USD

The weakness in the market continued through the Monday’s session as it gapped lower at the open but eventually, it filled the gap and then rolled over again to test the 0.7625 level. The market is getting enough support just above the 0.76 level. The stochastic oscillator is preparing turn around from the oversold area possibly indicating of short term rally. The 0.77 level will be massively resistive and if the pair touches that level then it will be a good selling opportunity. …Read More

USD/JPY

The continue to trade in a narrow range in yesterday’s session similar to the previous trading session. The pair reached down towards the 113.25 level which is also an important support level. It showed signs of strength to start moving again. The 114.50 level is what market is looking for and is also a strong resistance zone extending up to 115 level. Overall the market is fundamentally strong and short-term pullbacks will provide a nice buying opportunity. …Read More

This article was originally posted on FX Empire

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