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Daily analysis of major pairs for November 14, 2017


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There is a promising buy signal on the EUR/USD. Since the low of last week (1.1553), price has gone upwards by 120 pips; now above the support line at 1.1650. The next target is the resistance line at 1.1700, which would be reached very soon. The resistance line is supposed to be exceeded after it is tested.

EUR/USD: There is a promising buy signal on the EUR/USD. Since the low of last week (1.1553), price has gone upwards by 120 pips; now above the support line at 1.1650. The next target is the resistance line at 1.1700, which would be reached very soon. The resistance line is supposed to be exceeded after it is tested.

USD/CHF: The USD/CHF is bullish in the long-term, but bearish in the short-term. Price consolidated on Monday, and may rise upwards (as volatility increases), but it may not be significant because USD would maintain some stamina. The support levels at 0.9900, 0.9850 and 0.9800 would be tested before the end of the week.

GBP/USD: There has not been any vivid changes on the Cable. A directional bias is expected this week, when price either goes above the distribution territory at 1.3300, or it goes below the accumulation territory at 1.3050 (either of these would require a strong buying or selling pressure).

USD/JPY: This pair did nothing special on November 13. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/JPY: There is some short-term bullishness on the EUR/JPY at the present owing to the perceived bullish effort on EUR. There is a Bullish Confirmation Pattern in the 4-hour chart, as price promises to go further upwards (by at least, 150 pips). The next targets are the supply zones at 113.00 and 113.50.

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About the author


Azeez Mustapha is a trading professional, an InstaForex official analyst, a blogger at ADVFN.com, and a freelance author for trading magazines. He is working as a trading signals provider at some websites. His numerous articles are being posted on other websites like www.ituglobalforex.blogspot.com.

Contact: azeez.mustapha@analytics.instaforex.com.

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