EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – November 23, 2017

Colin First
The NFP came in stronger than expected and helped to add strength to the dollar which seems set to continue its strength through till the end of the month

EUR/USD

Initially, the pair traded on sideways direction on Wednesday’s session using the 1.17 level as a support but as the day progressed it rallied again reaching towards the 1.18 level. The market is expected to continue higher moving above the 1.18 level in next couple of session. But the market in some manner will continue to be choppy as there are issues related to both economies. Pullbacks in this market will be an excellent buying opportunity way forward unless it breaks below the 1.16 level. …Read More

GBP/USD

The market was extremely volatile during the yesterday’s session as it struggled to break above the 1.3250 level. Now the market has broken above this important level, it will now try to move much higher towards the 1.35 level and above. The next session in the market is expected to be in the favour of British Pound as American market will remain closed on account of Thanksgiving and US dollar will be somehow undefended. The long-term of the market will be at 1.3650 level. …Read More

AUD/USD

The pair was in a back and forth movement in the Wednesday’s session and was getting support at the 0.7550 level. Yesterday’s movement in the market signifies some type of bullish pressure building the market. And if it is able to break above the 0.76 level, then it should clear the way towards the 0.7750 level. The 0.75 level will act as a floor to this market. The absence of any external force in the market is resulting in the market to be very choppy. …Read More

USD/JPY

The market turned negative in the yesterday’s session as it broke below the important 112 level which the market was defending for a couple of days. This break is indicating that the market is going towards the bottom of the consolidation which is at around 108 level. The inability of the US Congress to go through with the tax reform measures is impacting the dollar. A crossover above 112.70 level will help this market to negate some of the bearish pressure. …Read More

This article was originally posted on FX Empire

More From FXEMPIRE: