USDX (USD Index)

Similar to the previous day analysis, the U.S dollar index continues to stick above the 98.25 support level. There is not much reaction yet from the market. The index expected to continue its upward movement. However, it needs to print a higher high on the chart which has not happened yet this week. Next week, it is possible the index will create higher high and continue its uptrend.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 25 – 29 November 2019

EUR/USD

EUR/USD holding out above 1.1000 support levels and looking to bounce from it. There is no major bullish movement from the support level. At the current time, traders will continue waiting for a chance to enter long positions near 1.1000 with a tight stop order below it.

If the pair starts moving upward then the level around 1.1065 and 1.1120 will become the upward targets.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185

GBP/USD

GBP/USD slightly lower yesterday but no change to the outlook of the pair which trade inside 1.2800 – 1.3000 range. Traders will continue to apply ranging strategies for now inside the range. The pair expected to continue its upward movement and reach 1.3000 at the moment.

Today Critical level to watch:

Support: 1.2800, 1.2625, 1.2600, 1.2500

Resistance: 1.3000

USD/JPY

The upward jump of USD/JPY brought the pair nearer to 110.00 resistance. If there is no change to the outlook then USD/JPY will reach 110.00 soon. Traders will continue to hold long positions for now and waiting for the market reactions near 110.00 before changing positions.

Today critical levels to watch:

Support: 109.00, 107.40, 107.00

Resistance: 110.00

AUD/USD

AUD/USD shows bullish reaction today and currently testing previous day high. The pair might start moving upward if we have a bullish close above previous day high. On the other hand, we think the pair will reach 0.6750 before starting an upward movement.

Today critical levels to watch:

Support: 0.6750, 0.6700

Resistance: 0.6800, 0.6820, 0.6900