Majors Daily Forecast Dec 01 2017

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EURUSD, Bullish With Caution!

As long as 1.1886 support holds on a daily closing basis, the EURUSD remains on the upside with caution, resistance comes at the 1.1936 levels. At this point, the EURUSD will have to break and hold above the 1.1936 levels to prevent a return to the downside If seen it will target the 1.2059 levels, a halt is likely and it may turn lower from here, but a break will aim the 1.2165 levels.

A failure to hold above 1.1936 on a daily closing basis may bring consolidation below this level…

On the downside, a failure to hold above the 1.1936 levels could mean a return to the 1.1886 levels, a cut through that level will aim the 1.1826 levels, below that level sees a fall risk to the 1.1731 levels.

Conclusion: The EURUSD sees upside risk above 1.1886 levels.

blankGBPUSD: Bullish Despite Hesitation!

As long as 1.3447 support holds on a daily closing basis, the GBPUSD remains on the upside to the 1.3585 levels, a break will aim the 1.3658 levels. on the downside, below 1.3447 sees a pullback risk to the 1.3387/1.3314 levels before another rising.

blankUSDJPY: Recovers With Caution!

As long as 111.63 support holds on a daily closing basis, the USDJPY remains in a recovery mode and further upside could be seen, but upside above 111.63 should be limited by 112.70 levels, above 112.70 will extend the recovery to the 113.50 levels, next resistance comes at the 114.27 levels. On the downside, below 111.63 sees a fall risk to the 110.83 levels ahead of the 110.05 levels.

blankUSDCHF: Bearish Despite Recovery Attempts!

As long as 0.9852 resistance holds on a daily closing basis, the USDCHF remains neutral with risk to the downside, a failure to hold above 0.9852 levels on a daily closing basis could mean a return to the 0.9802 levels where a cut will aim the 0.9755 levels, a halt is likely and it may turn higher from here, below 0.9755 will aim the 0.9708/0.9678 levels. Above 0.9852 sees a recovery risk to the 0.9915/0.9970 levels before the next falling.

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