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CURRENCIES TECHNICAL ANALYSIS November.09

Euro

The EUR/USD pair extended its consolidation on Tuesday’s trades. The price went back and forth around the level 1.1050. The resistance is seen at 1.1050, the support stands at 1.1100.

We will buy the euro if the price consolidates above 1.1050. A move below the level 1.1050 will open the way towards 1.1000.

09_11_2016-eurusd

Pound

The technical picture presented a slightly bearish tone. The GBP/USD remained under pressure during the course of Tuesday's trades. Traders held the pound around the level 1.2400. The current resistance is seen at 1.2400, the support exists at 1.2300.

The pound is likely to stay under pressure. Once we break below the 1.2400 level, we think that the 1.2300 level will be next.

09_11_2016-gbpusd

Yen

The recovery phase remained intact. The price kept climbing upwards during the day. The USD/JPY pair broke the level 104.50 and headed towards 105.00. The resistance is at 105.00, the support comes in at 104.50.

We maintain our positive outlook. A break above 105.00 will reinforce buyers’ positions. Bulls may lead the price to 105.50.

09_11_2016-usdjpy

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