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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 10, 2017

Colin First
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The pair gained some amount of strength during the session on Thursday and moved higher towards the 1.1650 level. The strength was mainly because of the weak dollar across the board yesterday. The rallies in the market are good selling opportunity until it breaks above the 1.17 level as it is the neckline of the head and shoulder pattern. In the long term, the market will remain weak as Federal Reserve is planning rate hike several times starting next month. …Read More


The market was bit choppy during the yesterday’s session as it consolidated above the 1.3050 level. In the higher side, the 1.33 level is going to massively resistive. The weakness in the dollar due to delay in tax reform bill is actually helped the market to continue the strong momentum. Looking forward to the day, the manufacturing production data from the UK is coming out today, which will make this market somewhat volatile and is expected to trade around the 1.3150 level for rest of the session. …Read More


The AUD was extremely volatile during the yesterday’s session against USD, initially went in a back and forth movement and then fell down significantly. The market is now looking towards the 0.7625 level and if it breaks below then 0.75 level will be the next support level. The market has faced extreme resistance going higher and has turned around from the 0.78 level. Sell on rallies will be the right strategy to play this market as the market looks to remain weak for some time now due to the absence of any support. …Read More


The USD pulled down significantly towards the 113.25 level during the yesterday’s session before bouncing back a little. The market will face enough pressure to go down every time it tries to break above the 114.50 level which is massively resistive. Overall the market will continue to be on the positive side as interest rate between the two economies is much higher. Dips in the market continue to be an excellent buying opportunity. …Read More


This article was originally posted on FX Empire