Forex Technical Major Pairs analysis November 15, 2019

USDX (USD Index)

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The positive development of trade war issue between U.S and China bring U.S dollar index lower today. Technically, the index failed 98.25 resistance and has the potential to move further lower toward SMA 200 and 97.50. Traders currently will observe the price movement and prepare for long positions near SMA 200.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 11 – 15 November 2019

EUR/USD

EUR/USD bounced from 1.1000 and avoided bearish breakdown below the level. The bull follow-through by pushing the price further higher today. We might see EUR/USD continue upward in the coming week and reach 1.1120 resistance. At the current time, traders who enter long positions near 1.10000 will hold the positions.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185

GBP/USD

The pair move upward as planned and no change to its outlook for now. GBP/USD expected to continue its movement inside 1.2800 – 1.3000 for now. Traders will wait for the chance to enter short positions when the pair reach 1.3000 and form a bearish reaction.

Today Critical level to watch:

Support: 1.2800, 1.2625, 1.2600, 1.2500

Resistance: 1.3000

USD/JPY

USD/JPY reversed upside today and might close the day as a harami pattern. It is not a bullish confirmation yet. But, there is a chance USD/JPY will continue upward and retest 109.00 and SMA 200. At the current time, wait until the harami pattern confirmed.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 109.00, 110.00

AUD/USD

A bullish bounce from the top of the channel happened today. AUD/USD bounce from the channel and currently traded near 0.6820. If the test on 0.6820 resulted in strong bearish rejection then we will expect AUD/USD to test 0.6750. This week, the pair might close near 0.6820.

Today critical levels to watch:

Support: 0.6750, 0.6700

Resistance: 0.6800, 0.6820, 0.6900

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