Majors Daily Forecast Nov 14 2017

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EURUSD: Short-Term Bullish!

as long as 1.1678/1.1622 support holds on a daily closing basis, the EURUSD remains on the upside to the 1.1730 levels, a halt is likely and it may turn lower from here, but a break will aim the 1.1836/1.1861 levels, another fall could be seen but if this fails to happen, the pair will extend gains to the 1.1935/1.2005 levels, further upside resistance stands at the 1.2059 levels.

On the downside, below 1.1622 will aim the 1.1553 levels, below that level will extend losses to the 1.1478 levels, further down support stands at the 1.13390 levels.

Conclusion: The EURUSD continues to face upside threats above the 1.1622/1.1678 levels.

Note that weekly resistance comes at the 1.1677 levels, the weekly chart suggests a weekly closure around or below that level, so overbought zone is above 1.1677 levels.

blankGBPUSD: Continues To Consolidate With Downside Bias!

As long as 1.3190 resistance holds on a daily closing basis, the GBPUSD remains neutral with risk to the downside, support comes at the 1.3114 levels ahead of the 1.3041 levels, a cut will open 1.2978 levels, a halt is likely but a break below the 1.2978 levels will aim the 1.2908 levels, further down support stands at the 1.2792 levels.

On the upside, immediate resistance comes at the 1.3190 levels, above that level will extend the recovery to the 1.3300 levels where another falling is very likely, further upside will pave the way to the 1.3442 levels

Conclusion: The GBPUSD sees downside move below 1.3300/1.3190 levels…

blankUSDJPY: Maintains pullback Tone With Caution!

As long as 114.27/114.87 resistance holds on a daily closing basis, the USDJPY remains in a pullback mode and further down could be seen, support comes at the 113.20 levels, a halt is likely and it may turn higher from here but a cut through that support will extend the pullback to the 112.51 levels, further down support stands at the 111.77/111.33 levels.

On the upside, a daily closing above 114.27 should weaken recent fall and challenge the 114.87 levels, above 114.87 will extend gains to the 116.33 levels, further upside resistance comes at the 117.42 levels…

Conclusion: The USDJPY remains exposed to the downside below 114.87 levels.

Note that fall from 114.74 is supposed to be contained well above 112.51 levels, below that level, will suggest a medium-term top and pave the way for further decline!

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