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CURRENCIES TECHNICAL ANALYSIS November.14

Euro

The euro closed in the red on Friday. Sellers drove the price below 1.0900 and tested the level 1.0850. Indicators held within oversold readings, and headed south. The current resistance is seen at 1.0900, the support lies at 1.0850.

The 1.0850 level limits euro further losses. A break below the level will open the way towards 1.0800. A daily closing above 1.0900 will ease the downward pressure. The pair may recover on the back of profit taking.

14_11_2016-eurusd

Pound

The pound had a positive day on Friday. The pair maintained its bid tone extending its gains towards 1.2700. The pound failed to take out the level and retreated from its weekly highs to 1.2550 by the end of the trades. Technical indicators retained bullish signals. The resistance is at 1.2700, the support comes in at 1.2600.

If the level 1.2700 remains unbroken the price will roll back to 1.2500. A break above this level risks a growth towards the next resistance at 1.2800.

14_11_2016-gbpusd

Yen

The USD/JPY pair was neutral on Friday. Traders held the pair onto recent gains around 106.50. Buyers made an attempt to take out the 107.00 level but failed and had to retreat back to 106.50. The resistance is seen at 107.00, the support stands at 106.50.

A daily close above 107.00 will increase chances for testing the level 107.50. A failure here will send prices downwards towards 105.00.

14_11_2016-usdjpy

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