flag-gb flag-my flag-zh flag-id flag-th flag-vi

CURRENCIES TECHNICAL ANALYSIS November.11

Euro

The EUR/USD pair maintained a bearish tone on Thursday. The euro weakened against the dollar, extending its short-term bearish momentum on yesterday’s trades. The pair slightly recovered and tested the level 1.0950 in the Asian session but after testing the level prices dropped lower and reached 1.0850 post-American open. The resistance is seen at 1.0950, the support stands at 1.0900.

The pair is oversold and we expect a roll back in the short-term. An upcoming recovery could be attributed to some profit taking from sellers after a recent sharp drop.

11_11_2016-eurusd

Pound

The pound closed bullish yesterday. After a brief consolidation during the European session the price rallied and was able to test the monthly high at 1.2500. After testing the level prices moved higher and refreshed a monthly high at 1.2591. The current resistance is seen at 1.2600, the support exists at 1.2500.

If buyers consolidate above 1.2500 the pair may extend its gains towards 1.2600. Otherwise, the GBP/USD will roll back to 1.2450.

11_11_2016-gbpusd

Yen

The USD/JPY closed bullish yesterday. The dollar maintained control of the flows during the day. Buyers pushed the price higher, breaking through 106.00 and 106.50 and testing the 107.00 level. Bulls failed to retake the level and the USD/JPY pair retreated from fresh highs staying in its area afterwards. The resistance is at 107.00, the support comes in at 106.50.

The price met a barrier around 104.00. Once we break below the level, we think that the 103.50 mark will be next. As the pair is slightly oversold we expect bears' profit taking towards 104.50.

11_11_2016-usdjpy

Read the full review on our site:
https://www.fortfs.com

Latest news

8,88% negative trades compensation

2019-04-02 06:51:06

FortFS launches Ultimate Cashback promotion! The promotion is aimed to get the balance compensation per each trade closed with the negative result. Compensated amount is fixed and is equal to 8,88% of the loss amount. All compensations are credited into the trading account automatically.

Unlimited Leverage

2019-03-01 16:41:06

What is the unlimited leverage? Usually it means borrowed funds provided by broker to clients to enable clients to open larger positions and to increase income from investing without increasing their investments. However, the leverage always has an established limit which is originally determined by the broker and cannot be changed.