Forex Trading Signals - November 20, 2017

EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 31, 2018

EUR/USD

The market was fairly bullish during the yesterday’s session as it reached towards the 1.2450 level. As it goes forward, the market will experience a massive resistance around the 1.25 level which is structurally and psychologically significant number. The pullbacks continue to be a good opportunity to enter this market. The market should continue to remain bullish as the selloff in the dollar will continue not only against Euro but also against all other major currencies. A break above 1.25 level will send this market towards the 1.32 level in the long-term period. …Read More

GBP/USD

The British Pound rallied significantly during the yesterday’s session from its crucial support at 1.40 level. By doing this, the market is expected to continue higher towards the 1.4250 level initially and then 1.45 level. Pullbacks will continue to offer a good opportunity to enter this market. If the pair breaks below the 1.40 level then it will reach the 1.39 level and it fails further then it will test the 1.3650 level. …Read More

AUD/USD

The AUD initially fell against the dollar on Tuesday’s session reaching the 0.8050 level but bounced higher to reach the 0.81 level. If the pair breaks above the 0.8135 level then it would be a fresh new high and the market will continue to reach higher towards the 0.85 level, as it will attract a lot of psychological importance. The 0.80 level is massively supportive underneath and would attract a lot of buyers. …Read More

USD/JPY

The US Dollar continued to trade negatively against the JPY during the Tuesday’s session reaching down towards the 108 level. The market is probably trying to reach towards the 107.50 level which will completely wipe out the entire gains. Continued weakness in the dollar index is forcing the pair to go lower. Any short-term bounce in the market will attract selling pressure until the pair succeeds to break above the 110 handle. …Read More