What is Forex Analysis?

Forex analysis is the study of determining whether to buy, sell, or wait on trading a currency pair. Currencies trade in pairs, with the exchange rates based on the price of one currency relative to the other

SUMMARY

  • The USD slumped in yesterday’s trading session, market players are still waiting for the final vote count results of the US presidential election
  • USD continues to be depressed by the Yuan
  • The market also awaits the release of US Employment Data for October also in focus on Friday

EURUSD Analysis

The 1.1630 to 1.1850 area is still a buy and sell area for the Euro against the USD, if it breaks the 1.1758 area and closes above the 1.1773 area then it will enter the Euro sell area, at least for today, and vice versa if the 1.1707 area breaks and closes below the 1.1688 area it will create a signal. Buy levels : 1.1680-1.1717 Cutloss : 1.1645, Sell levels : 1.1755-1.98 Cutloss : 1.1838

Strong Support : 1.1705
Strong Resistance : 1.1752

GBPUSD Analysis

The news from the BoE that interest rates will make negative pressure on the Pound even heavier, the area of 1.2875 (MA125) is a signal for the weakening of the Pound for its long-term trend if there is a daily close below that area, otherwise the 1.2977 area will signal the strengthening of the Pound if there is a H4 close above the 1.3055 area then the movement of Pound will still be flat. Buy levels : 1.2900-1.2950 Cutloss : 1.2860, Sell levels : 1.3010-1.3050 Cutloss : 1.3101

Strong Support : 1.2925
Strong Resistance :
1.2983

AUDUSD Analysis

The 0.7200 area if daily closes above this area then the Aussie strengthening trend will hold in the 0.7100 to 0.7300 area, otherwise the 0.7150 area signals its weakening, daily closing below the 0.7117 area is a sign of trend change. Buy levels : 0.7117-0.7160 Cutloss : 0.7080, Sell levels : 0.7222-0.7252 Cutloss : 0.7282

Strong Support : 0.7150
Strong Resistance : 0.7200

USDJPY Analysis

Yen strengthening trend seems to have entered the critical area, if daily closing is below the 104.00 area, the Yen strengthening for the long term will play in the 103.30 area to 105.05, on the contrary if the closing is still above the 104.44 area, the Yen strengthening trend is restrained. Buy levels : 104.04-104.24 Cutloss : 103.88, Sell levels : 104.55-104.75 Cutloss : 104.98

Strong Support : 104.01
Strong Resistance : 104.4

USDCHF Analysis

The area of 0.9113 is a sign of the weakening of the Swiss Franc, if it closes above the 0.9134 area then the strengthening trend of the Swiss Franc will be halted, on the contrary, if the 0.9098 area is broken then the signal will continue strengthening. Buy levels : 0.9080-0.9111 Cutloss : 0.9040, Sell levels : 0.9120-0.9155 Cutloss : 0.9292

Strong Support : 0.9098
Strong Resistance : 0.9134

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