USDX (USD Index)
The downward movement of U.S dollar index halted Yesterday, and the bull manages to close the index at the positive side. The positive closure bought by the bull today and the index currently testing 93.00 broken support. The index is looking to add more gain and return above 93.00, but there is no move above it yet.
News to watch
09.45 AM Fed Chair Designate Powell Speaks
10.00 AM U.S CB Consumer Confidence, estimated reading of 123.9
03.45 PM U.S Treasury Sec Mnuchin Speaks
For full outlook for this week, you can follow Forex Outlook For The Week 27 – 1 Dec 2017
Technical Analysis
EUR/USD
EUR/USD upward movement continue Yesterday, and the bull pushed the pair above 1.1925. However, the bear returned before the market closed and brought the pair closed below 1.1925. If the bearish pressure continues today, traders could expect EUR/USD fall to test 1.1820 broken resistance.
Today critical level to watch:
Support: 1.1850, 1.1820, 1.1710, 1.1650
Resistance: 1.1925, 1.2000
GBP/USD
Another no breakout for GBP/USD as the pair closed near the top of the triangle. The consolidation inside triangle pattern looks will continue. Today, the pair experience mild selling and move below previous day low. Traders will use the opportunity to look for short position and target area between red trend line – 1.3250
Today critical level to watch:
Support: 1.3300, 1.3250, 1.3200, 1.3125, 1.3100
Resistance: 1.3342
USD/JPY
USD/JPY printed a bearish engulfing pattern after re-test of daily SMA 200. Fortunately, the pair closed above 111.00 which suggest no breakout lower yet. If the bull could maintain the pair above 111.00 and make a close above SMA 200, it will overturn the bearish trend.
Today critical level to watch:
Support: 111.00
Resistance: 111.60, 112.00, 112.50, 113.20, 114.50
AUD/USD
No change to AUD/USD projection, the pair expected to continue its movement inside the two red trendlines. The pair could continue fall toward 0.7500 – 0.7550 area for another test. However, traders must take account possibility breakout higher to test daily SMA 200.
Today critical level to watch:
Support: 0.7550, 0.7500
Resistance: 0.7630, 0.7690, 0.7750, 0.7800