USDX (USD Index)

U.S dollar index slides lower on Friday and looks will close the week on the negative side. The downward movement is reasonable and will target 94.00 and the trendline. Traders could prepare for long position when the index reaches both support level.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 6 – 10 Nov 2017

Technical Analysis

EUR/USD

EUR/USD decide to bounce at the end of the week as the pair move above 1.1640. The upward movement has 1.1710 and the down trendline as the target. Traders could prepare for short position when the pair reach both resistance.

Today critical level to watch:

Support: 1.1650, 1.1580, 1.1500, 1.1360

Resistance: 1.1710, 1.1820

GBP/USD

GBP/USD continues its upward movement and setup for a test on 1.3250 resistance where there is broken trendline. The situation is neutral with medium-term bearish bias, and traders could position for short position after weakness seen on the pair.

Today critical level to watch:

Support: 1.3100, 1.3000, 1.2800

Resistance: 1.3250, 1.3300, 1.3342

USD/JPY

USD/JPY closed below red trendline and confirmed the change of short-term trend to bearish. The pair currently has 113.20 as a support level. The break and close below this support level will trigger more selling toward 112.50. Long position at 113.20 and 112.50 is position traders could look.

Today critical level to watch:

Support: 113.20, 112.50, 112.00, 111.60

Resistance: 114.50, 115.00

AUD/USD

AUD/USD completely sideways until the end of the week. There is nothing to analyze yet until the pair moves away from the daily SMA 200. Traders could continue observing the price reaction at the current level.

Today critical level to watch:

Support: 0.7550, 0.7500

Resistance: 0.7690, 0.7750, 0.7800, 0.7875