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CURRENCIES TECHNICAL ANALYSIS November.21

Euro

The EUR/USD had another negative day on Friday. After unsuccessful recovery to 1.0650 prices sharply dropped below 1.0600 and closed the day a few pips above 1.0550. The resistance comes in at the level 1.0600, the support lies at 1.0550.

If sellers keep pushing EUR/USD downwards the pair will break 1.0550 and move further towards 1.0500. Alternatively, should the price bounce off the level 1.0550 the EUR/USD may strengthen towards 1.0700.
21_11_2016-eurusd
Pound

The pair faced further downside pressure on Friday. After a low volatile trade during the European session the GBP/USD pair had a sharp drop below 1.2400 and tested 1.2300 which rejected it upwards. The price closed the day hovering above 1.2300. The resistance exists at the level 1.2400, the support stands at 1.2300.

If the price breaks below 1.2300 the selling pressure will increase towards 1.2200. A move above 1.2400 may ease the downward pressure for a while.
21_11_2016-gbpusd
Yen

The USD/JPY remained in an ascending channel and refreshed yearly high on Friday. Traders were able to push prices higher and closed the day in the green. The resistance is at 111.00, the support comes in at 110.00.

The pair keeps growing ignoring the fact that it is overbought. A move above 111.00 will open the way to 112.00. Sellers might force the pair to resume its downward trajectory if they return prices below 109.00.

21_11_2016-usdjpy

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