Majors Daily Forecast Dec 05 2017

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EURUSD: Consildates With Upside Bias!

As long as 1.1936 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down could be seen but downside below 1.1936 should be contained well by the 1.1826 levels, however; below 1.1826 on a daily closing basis will extend the corrective pullback to the 1.1731 levels, it may turn up from here, but if this fails to happen, the pair will see a fall to the 1.1678/1.1622 levels.

A 4-hour closing above 1.1875 will aim the 1.1936 levels, stability below 1.1875 on a 4-hour closing basis will keep pushing on the 1.1826 levels.

On the upside, immediate resistance comes at the 1.1875 levels ahead of the 1.1936 levels(main), above 1.1936 on a daily closing basis will aim the 1.2059 levels, further upside, resistance stands at the 1.2165 levels.

Conclusion: The EURUSD continues to consolidate above 1.1826 levels, above 1.1936 will aim the 1.2059 levels, below 1.1826 sees a fall risk to the 1.1731 levels…

GBPUSD: Faces Pullback Threats!

As long as 1.3550 resistance holds on a daily closing basis, the GBPUSD remains in a pullback mode and further down could be seen to the 1.3445 levels, a cut will aim the 1.3387 levels, further down, support stands at the 1.3315 levels ahead of the 1.3209 levels.

On the upside, a failure to hold below the 1.3445 levels on a daily closing basis could mean a return to the 1.3550 levels where a break will restore the upside momentum and aim the 1.3595 levels, further upside, resistance comes at the 1.3658 levels.

Conclusion: The GBPUSD sees pullback threats below 1.3550 levels.

USDJPY: Recovers With Caution!

As long as 111.63 support holds on a daily closing basis, the USDJPY remains in a recovery mode but recovery above 111.63 should be contained well by the 112.70 levels where another fall is likely, above 112.70 will extend the recovery to the 113.50 levels ahead of the 114.27 levels. Below 111.63 sees a fall risk to the 110.83/110.05 levels, further down, support comes at the 109.23 levels.

USDCHF: Loses The Downside Momentum, Sees Recovery Threats!

As long as 0.9755 support holds on a daily closing basis, the USDCHF remains in a recovery mode and further upside could be seen, but the recovery above 0.9755 should be limited by the 0.9870 levels, above 0.9870 will aim the 0.9915 levels where a break will target the 0.9970 levels, further upside, resistance comes at the 1.0037 levels. On the downside, a failure to hold above 0.9870 levels on a daily closing basis could mean a return to the 0.9802/0.9755 levels, below 0.9755 will extend losses to the 0.9708/0.9678 levels and possibly lower to the 0.9587 levels.

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HAITHAM653

I’ve been in the fx market since 2007, In this website, I’m gonna share with you the knowledge and the experience that I obtained through the years, I analyze the markets from technical and fundamental perspectives. I cover, short/medium to longer term forecasts, that fits all kind of traders from beginners to professionals, my primary mission is to get the real pulse of the market to our readers.

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