Majors Daily Forecast Nov 22 2017

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EURUSD: Pullback Threat Remains Intact!

As long as 1.1857 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down could be seen. Immediate support comes at the 1.1755 levels, with a break below here opening the way to the 1.1678 levels, a halt is likely but a cut would open 1.1622 levels, below 1.1622 will reverse risk to the downside and pave the way to the 1.1553 levels, further down support comes at the 1.1478 levels.

Minor resistance comes at the 1.1755 levels, a 4-hour closing above that level will turn the focus on the 1.1821 levels before another falling…

On the upside, resistance comes at the 1.1805 levels ahead of the 1.1857 levels(main), above 1.1857 will restore the upside momentum and aim the 1.1936 levels, further upside resistance comes at the 1.2005 levels ahead of the 1.2059 levels.

Conclusion: The EURUSD continues to face pullback threats below the 1.1857 levels, above 1.1857 levels will restore the upside momentum and pave the way to the 1.1936/1.2000 levels.

blankGBPUSD: Bullish With Risk To The 1.3300 Levels!

As long as 1.3207 support holds on a daily closing basis, the GBPUSD remains on the upside to the 1.3300 levels, a halt is likely and it supposed to turn lower from here, but if this fails to occur, the pair will aim the 1.3442 levels, a hesitation is expected but above 1.3442 levels, eyes will be on the 1.3615 levels.

On the downside, support comes at the 1.3207 levels, below 1.3207 sees a pullback risk to the 1.3135 levels before another rising, below that level should weaken recent rise and aim the 1.3041 levels, below 1.3041 will pave the way to the 1.2908 levels.

Conclusion: The GBPUSD sees upside risks above 1.3135/1.3207 levels…

blankUSDJPY: Bearish Despite Recovery Attempts!

As long as 112.71 resistance holds on a daily closing basis, the USDJPY remains on the downside to the  111.70 levels, a halt is likely but a cut would open 110.66, further down, support comes at the 109.54/109.25 levels.

On the upside, resistance comes at the 112.71 levels ahead of the 113.49 levels (main), above 113.49 sees a recovery risk to the 114.27/114.87 levels, note that a daily closing above 114.27 may expose the 114.87 levels if seen it will aim the 116.33 levels.

Conclusion: The USDJPY sees downside threats below the 113.49/112.71 levels.

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MARKET DATA

UPCOMING ECONOMIC EVENTS

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