Forex Technical Major Pairs analysis December 04, 2019

USDX (USD Index)

Free $100 Forex No-Deposit Bonus

The downward movement of the U.S dollar index brought the index to close at the daily SMA 200. It is bearish but as long as there is no breakout below SMA 200 and 97.50 we could assume the index will attempt to bounce. No confirmation yet at the current time, traders will wait for a further reaction from the market.

News to watch

08.15 AM U.S ADP Non-Farm Employment Change, forecast 137k

11.00 AM U.S ISM Non-Manufacturing PMI, forecast 54.5

For full outlook for this week, you can follow Forex Outlook For The Week 02 – 06 December 2019


EUR/USD stalled after the bounce from 1.1000 support level. The pair might extend its upward movement toward 1.1120 resistance. Today ADP non-farm employment data might become the trigger for EUR/USD next movement. There is more room toward the 1.1120 resistance and SMA 200.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185


GBP/USD breakout above 1.3000 and concluded the consolidation between 1.2800 – 1.3000. The pair make strong bullish thrust above the resistance and no stop to the upward movement yet. If the pair moves lower then traders could look for long positions near 1.3000.

Today Critical level to watch:

Support: 1.3000, 1.2800, 1.2625

Resistance: 1.3125, 1.3250


USD/JPY bull is in trouble as the pair make lower close below SMA 200. The bearish pressure might continue and the pair trade further lower. On the lower side, there is a bullish trendline which might become the support to watch. At the current time, traders will wait for further reaction near SMA 200.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 109.00, 110.00


AUD/USD secured a bullish close above 0.6820 and today the pair make price correction. The correction tested the broken 0.6820 level and bounce from it. If AUD/USD could extend its bullish movement then we will expect the pair to test daily SMA 200.

Today critical levels to watch:

Support: 0.6820, 0.6800, 0.6750, 0.6700

Resistance: 0.6900

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.