USDX (USD Index)

U.S dollar index moved between 94.40 – 95.00 and looked for a break outside of the range. The index is currently testing the top of the range and might break out upside. If the index could close above 95.00 today, it will continue the uptrend and reach yellow resistance range or the trendline resistance.

News to watch

02.30 PM Fed Chair Yellen Speaks

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

Technical Analysis

EUR/USD

The downward scenario on EUR/USD is in progress as the pair fall below 1.1580 today. If the bearish momentum is strong, EUR/USD might reach 1.1500 without any trouble. On the other hand, a close above 1.1580 will threaten bearish sentiment and turn the trend positive.

Today critical level to watch:

Support: 1.1500, 1.1360

Resistance: 1.1580, 1.1650, 1.1710, 1.1820

GBP/USD

The bull returned into GBP/USD and pushed the pair upside after it touched the broken trendline. The bullish move is encouraging for the bull, but there is no follow through yet today. If the pair closed lower near previous day opening level, the bear might return and resume the bearish trend to daily SMA 200.

Today critical level to watch:

Support: 1.3100, 1.3000, 1.2800

Resistance: 1.3250, 1.3300, 1.3342

USD/JPY

USD/JPY is in “wait&see” situation as the bull testing 114.50 resistance level. The pair expected to continue its movement inside the blue triangle until breakout happens. We favor bullish break in the pair, depend on the strength, USD/JPY might blast the resistance without a retest.

Today critical level to watch:

Support: 113.20, 112.50, 112.00, 111.60

Resistance: 114.50, 115.00

AUD/USD

No change in the AUD/USD outlook, the pair stays below daily SMA 200 and currently rejected lower. Without any change in the fundamental, AUD/USD should continue lower toward 0.7500 – 0.7550.

Today critical level to watch:

Support: 0.7550, 0.7500

Resistance: 0.7690, 0.7750, 0.7800, 0.7875