Watch the latest Technical analysis of the EUR/USD, GBP/USD, USD/JPY and USD/CHF Forex pairs and Fundamental analysis for the Forex market for the November 30th in this video.
EUR/USD — Price is able to break above the Daily pivot: 1.2975 and approaching previous high and if doesn't rebound it will retest resistance at R1: 1.3013. Our next target is resistance at R2: 1.3048. If we approach Daily pivot again and fall below this level we will look for support at S1: 1.2940. If it doesn't find support at this level it will continue towards the support at S2: 1.2890. Based on these conclusions we expect a bullish trend for the EUR/USD pair today.
USD/JPY — Price has almost reached resistance at R1: 82.545 and we had corrections. It will focus first on Support at S1: 82.244 and then the Daily pivot: 82.078 and it will probably rebound at this level. If it doesn't bounce, Price will continue towards support at S2: 81.943 and if price continues further down, it confirms a downward move and our next target is support at S3: 81.777. Based on the indicators included in this chart analysis, it confirms a bearish trend for the USD/JPY pair.
GBP/USD — It is approaching resistance at R1:1.6057 but further rise may be limited. In this case it will probably move sideways and limited by Daily pivot:1.6029 from falling below. A sustained rise, our next target is resistance at R2: 1.6075. If it falls below Daily pivot we look for support at S1: 1.6012. Based on the indicators included in this chart analysis we expect a bullish trend for the GBP/USD pair.
USD/CHF — This pair has declined below the Daily pivot: 0.9276 and now heading for support at S1: 0.9249. If it doesn't rebound you can expect further fall towards support at S2: 0.9226 where the bottom can be found. If it holds above this level we will see consolidation. If it approaches resistance at R1: 0.9299 then upward move will be in favour. Based on the indicators included in this chart analysis show a bearish trend.