rounded corner
rounded corner
top border

Daily analysis of major pairs for November 21, 2017


Bookmark and Share

In a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/USD: This pair made an invalid bearish effort last week while the recent bullish bias remains valid. Price could be seen going upwards this week. There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way.

USD/CHF: In the last few trading days, price has been characterized by short-term upswings and downswings. Some visible bullish effort has been seen so far this week; but there would not be a bullish signal in the market, until the resistance level at 1.0000 is breached to the upside. That would not be an easy thing to achieve.

GBP/USD: A short-term bullish signal has been generated on this market. There is a Bullish Confirmation Pattern in the 4-hour chart, which is supposed to be more conspicuous as price journeys further northwards. The next targets for bulls could be the distribution territories at 1.3250 and 1.3300.

USD/JPY: In a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/JPY: In a context of a short-term downtrend, the EUR/JPY bounced upwards after testing the demand zone at 131.50. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply zone at 133.50 is breached to the upside (which would require strong bullish pressure).

Traders Mindset: http://www.advfnbooks.com/books/insights/index.html



Recent articles from this author



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.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2018 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy