Majors Daily Forecast Nov 23 2017

EURUSD: Bullish With Eyes On The 1.1857 Levels!

The EURUSD maintained a bullish momentum yesterday, bottomed at the 1.1731 levels and topped at the 1.1826 levels. This development leaves the pair targeting the 1.1857 levels, a halt is likely and it may correct lower from here, but If this fails to happen, it will extend gains to the 1.1935 levels, further upside resistance stands at the 1.1200 levels.

On the downside, support comes at the 1.1800 levels ahead of 1.1731 levels (main), below that level sees a pullback threat tot he 1.1678/1.1622 levels before another rising…

Conclusion: The EURUSD continues to face upside threats above the 1.1731 levels.

Note that EURUSD sees a buying opportunity on ECB Policy Meeting Minutes at 12:30 GMT.

GBPUSD: Bullish With Risk To The 1.3350 Levels!

As long as 1.3282 support holds on a daily closing basis, the GBPUSD remains on the upside to the 1.3350 levels, a halt is likely but a break will aim the 1.3442 levels, it may turn lower from here, but if this fails to happen, the pair will look for the 1.3615 levels…

On the downside, support comes at the 1.3282 levels, below 1.3282 sees a pullback risk to the 1.3207 levels before another rising, below that level will aim the 1.3135 levels (main).

Conclusion: The GBPUSD sees upside risks above 1.3282 levels…

USDJPY: Sees Further Bearish Momentum!

As long as 111.32/111.88 resistance holds on a daily closing basis, the USDJPY remains on the downside to the 110.65 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 111.32 levels ahead of the 111.88 levels (main), above 111.88 sees a recovery risk to the 113.50 levels where another fall is likely…

Conclusion: The USDJPY sees downside threats below the 111.32/111.88 levels.