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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 30, 2017

Colin First
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 30, 2017

EUR/USD

The market has been very choppy during the yesterday’s session bouncing from the 1.1825 level but getting significant resistance at the 1.1875 level. The market is fairly bullish in the recent past and corrections will provide good opportunity to enter the market with $17 as a floor to this market. There is a lot of noise related to the passing of tax reform in the US which is affecting the price of the dollar to fluctuate rapidly. If now any hurdles come underway to pass the tax reform, we can witness this market to go much higher. …Read More

GBP/USD

The pair traded with a bullish pressure in yesterday’s session reaching towards the 1.3450 level. The break above the 1.333 level is a positive for the market and will now become the immediate support for the market. Buy on dips will be the right strategy to play this market now as because of GBP getting a bit of reprieve with better terms between the UK and the European Union on Brexit conditions. If this market retains the 1.3333 level then we can see the market moving much higher towards the 1.35 and 1.3650 level. …Read More

AUD/USD

The AUD broke down significantly against the dollar during the yesterday’s session reaching the 0.75 level which is a very bearish indication for the pair. Once it breaks this level the market will go much lower towards the 0.7350 level. The noise around the US dollar is affecting this market to break down significantly. Any rallies in the market will find selling pressure and will hammer the prices down. Little help from the gold market will keep this market on the negative side of the territory for the next few sessions. …Read More

USD/JPY

The market was initially very choppy in yesterday’s session but then rallied to enough to break above the 112 level only to find resistance and turned back around. If the pair ables to clear the high of the yesterday’s session then it will be very bullish for the market and will be then looking towards the 114.50 level. The noise around the tax reform bill in the US is making this market very volatile and difficult to trade. The pair has a strong resistance at the 114.50 and 115 level and will be interesting to see how the market reacts. The immediate support for the market is at 111.50 level. …Read More

This article was originally posted on FX Empire

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