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CURRENCIES TECHNICAL ANALYSIS November.3

Euro

The EUR/USD returned under pressure. Bull’ attempts to leave the 1.1650 region failed. The euro faced selling rejection in the Asian session when the major touched the EMA50 and moved down. The selling pressure increased in the morning sending the pair below the 1.1650 level. The resistance resides at. 1.1650, the support comes in at 1.1600. A daily close below 1.1650 will show room for further downside towards 1.1570 and 1.1550.

 

Pound

The GBP/USD pair maintained its offered tone on Friday. The night recovery was short-lived and ended at 1.3074 where the pound ran through fresh offers and turned to the downside. Sellers pushed the major lower in the morning and erased all buyers' gains by noon. The resistance lies at 1.3100, the support comes in at 1.3000. We expect to see renewed bearish pressure today and a further decline to 1.3000.

 

USD/JPY

The US dollar remains on strong bullish footing on Friday. The pair is still in an uptrend trading in the middle of the channel. Bulls keep flirting with the 114.00 hurdle trying to regain some traction. The resistance lies at 115.00, the support comes in at 114.00. We are still positive and expect the pair’s further incline in the coming sessions. Buyers aim at the mark 114.50 first, en route the level at 115.00.

 

GBP/JPY

The pound is neutral after the recent sell-off on Friday. The spot found a bottom at 149.00 and is trying to build on a correction.  The resistance lies at 150.00, the support is at 149.00. The profit taking around the pound may help the major to reverse some losses. The level 150.00 is the potential bulls' target.

 

EUR/JPY

The EUR/JPY pair stalled its recovery at 133.00. Buyers are trying to pass the level, but the 50,100 and 200 EMAs which lie around the hurdle won’t let the spot through. The resistance lies at 133.00, the support is at 132.50. If the euro fails to regain the 133.00 hurdle the pair may ease to the 132.00 region. A clear break above the level would indicate that the bullish phase has resumed.

 

AUD/USD

The AUD turned bearish on Friday. Sellers regained control in the night and pushed the major to 0.7700 first. The level did not stop sellers who kept driving the market lower afterwards. The pair was softening the whole day and approached 0.7650 by the NY opening.  The resistance is at 0.7700, the support stands 0.7650. If the bearish tone persists we expect a breakout of the level 0.7650 in the coming sessions.

 

DAX

The DAX index buying pressures is back. The index had a positive start to the day. The benchmark gapped upwards at the open and extended its gains after that. The price was trending up the whole day and tested 13500 in the mid-European session. The resistance lies at 13500, the support exists at 13400.  If bulls retain control DAX will regain 13500 and will advance to 13550.

 

NASDAQ

NASDAQ gapped higher at the open on Friday. The index jumped through 6240 and stopped at 6250 where the benchmark spent the first part of the day. The resistance lies at 6280, the support exists in at 6240. As the most probable scenario, we consider further moving upwards towards the level at 6280.

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