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CURRENCIES TECHNICAL ANALYSIS November.16

Euro

The EUR/USD pair got under intense selling pressure and surged lower after that. The euro rebounded from 1.1850 and eased to the 1.1800 first. The handle did not stop sellers who continued pushing the price lower towards 1.1750. The resistance resides at 1.1800, the support comes in at 1. 1750. A move below 1.1800 will point to a growing strength of sellers and may become a reason of a new ask-wave towards 1.1750, en route to 1.1700.

 

Pound

The pound remained mostly neutral staying in a narrow range between 1.3200 and 1.3150 on Thursday. The resistance lies at 1.3200, the support comes in at 1.3100. The pound has not changed since yesterday. The major is still between the EMA200 and EMA100. We prefer not to trade until we see the sterling close below or above the moving averages.

 

USD/JPY

The US dollar ran through fresh bids around 112.50 and pulled back after that. The major recovered to the 113.20 mark which rejected the price back to 113.00. The resistance lies at 113.50, the support comes in at 113.00. The EMA200 together with the 113.00 handle are hard obstacles for the USD/JPY pair. This resistance region is likely to reject the pair if buyers try to regain it. The level 112.50 remains the possible sellers’ target.

 

GBP/JPY

The GBP/JPY pair bounced from the lower limit of the downward channel and grew to 149.00 where the currency pair was stopped by the EMA50 и EMA200.  The resistance lies at 150.00, the support is at 149.00. To resume the uptrend, the spot has to break the resistance level at 150.00. However, we consider this scenario as an alternative. The sterling will mostly likely bounce from the 149.00 area and surged towards 148.00.

 

EUR/JPY

The recent rally appears to be overdone and a technical correction is underway now. A bout of euro weakness dragged the pair downwards. As a result, the spot approached the 133.00 handle ahead of the NY opening on Thursday. The resistance lies at 133.50, the support is at 133.00. Any move below the immediate support 133.00 would increase chances of testing the 132.50 handle.

 

AUD/USD

The AUD looks vulnerable and is prone for more weakness. The Aussie dollar remained neutral-to-bearish on Thursday staying in a narrow range between 0.7600 and 0.7570. The resistance is at 0.7600, the support stands 0.7550.The Aussie holds firmly in red and is likely to retest 0.7550 in the short-term.

 

DAX

DAX gapped upwards at the open on Thursday. The index jumped through 13000 and strengthened up to 13050 afterwards. The resistance lies at 13100, the support exists at 13000. The price is expected to rise towards 13100 in the short-term.

 

S&P500

S&P500 bounced off the EMA200 and the 2560 handle and rallied towards 2575 where the EMA100 stopped its further advance. The resistance lies at 2580, the support exists in at 2570. If the benchmark fails to hold above 2570 the index may surged towards 2560. If buyers are lucky they may drive the market to 2580 in the short-term.

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