Yahoo Finance EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 20, 2017
EUR/USD
The market has been choppy during the Friday’s session initially rallying a bit above 1.18 level but then rolled over considerably to make a close near to its opening level. The market has been able to hold the 1.17 level which is attracting a lot of buyers into. Effectively, the trigger for the will be how the tax reform bill plays out in the US. Consequently, ECB’s decision to extend the QE will also continue to negatively affect this market. If the pair gives a breakout to the upside, then it will go towards the 1.20 and then 1.21 level eventually. …Read More
GBP/USD
The market was very volatile during the Friday’s session rallying higher to test the 1.3250 level but failed to retain the level and then fell down significantly. The market will eventually look forward to break above this crucial level as the market has formed a bullish pattern. On the weekly chart, the pair has formed a hammer which is a bullish sign overall. A break above 1.3250 level will send this market much higher towards the 1.35 level and then eventually at 1.3650 level. …Read More
AUD/USD
The AUD lost some of its value in the Friday’s session as it struggled against the US dollar. The pair reached towards the 0.7550 level underneath which has been supportive in the past. The support here extends below towards the 0.75 level and if it breaks here then 0.7350 level will be the next support. Lack of strength in the gold market is negatively affecting the AUD. Overall both the currency has been choppy in the past few sessions owning to issues related to tax reforms bill in the US. This market is very sensitive to the macroeconomic issues and any trouble will result in further weakening of the pair. …Read More
USD/JPY
The market turned extremely negative on Friday as it broke through its important support level of 113, reaching towards the 112 level. The negative driver in this market is mainly due to the lack of the ability for the United States Congress to pass a tax bill. Because of this market will continue to remain weak and breakdown from here will result in the market to go much lower towards the 108 level which is the bottom of consolidation level. …Read More
This article was originally posted on FX Empire
