Majors Daily Forecast Nov 29 2017

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EURUSD: Pulls Back With Caution!

A1.1895/1.1860 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down could be seen, support comes at the 1.1826 levels, a halt is likely but a cut will aim the 1.1731 levels, it may turn higher from here but if this fails to happen, further down will be seen to the 1.1678/1.1622 levels.

On the upside, immediate resistance comes at the 1.1895 levels, a break will challenge the 1.1960 levels, above 1.1960 will aim the 1.2059 levels.

Conclusion: The EURUSD sees pullback threats below the 1.1895/1.1960 levels.

blankGBPUSD: Bullish Eyes Further Upside!

Note that minor support comes at the 1.3337 levels, above this level will keep pushing to the upside, resistance at 1.3381 levels, above this level, will look for the 1.1442 levels (if seen, 1.3381 will turn from resistance to support level)…

As long as 1.3282 support holds on a daily closing basis, the GBPUSD remains on the upside to the 1.3350 levels ahead of the 1.3442 levels, further upside, resistance comes at the 1.3585 levels.

On the downside, below 1.3282  sees a pullback threat to the 1.3207/1.3135 levels before another rising.

Conclusion: The GBPUSD sees upside threats above the 1.3282 levels.

blankUSDJPY: Bearish Despite Recovery Attempts!

As long as 111.68 resistance holds on a daily closing basis, the USDJPY remains on the downside to the 110.82 levels ahead of the 110.05 levels, further down, support comes at the 109.23 levels. Above 111.68 sees a recovery risk to the 112.70/113.50 levels where another fall is very likely.

blankUSDCHF: Bearish Despite Recovery Attempts!

As long as 0.9852 resistance holds on a daily closing basis, the USDCHF remains on the downside to the 0.9755 levels, further down will aim the 0.9708/0.9678 levels ahead of the 0.95578 levels. Above 0.9852 sees a recovery risk to the 0.9915/0.9970 levels where another fall is likely, next resistance comes at the 1.0037 levels…

blankDaily Events: Today the focus will be on;

  1. The U.S will release revised data on third-quarter growth at 13:30 GMT. (Effect on all USD pairs).
  2. Fed Chair Janet Yellen will testify on the U.S  economic outlook before Joint Economic Committee of Congress, in Washington at 15:00 GMT. (Effect on all USD pairs).

MARKET DATA

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