Forex Market update and Analysis 23rd to 27th November - By Shiv Kumar
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BTC/USD stops within a whisker of $19,000, bearish signals piling up.
Week Ahead: - Technical indicators show that the asset is overbought. If the bulls can now push the price above $18,695.75,can drive the price above $20,000. If the pair turns down from the current levels and drops below $17,629, and extend to $ 17,482.
USD/JPY USD/JPY bulls lack momentum amid the Japanese holiday.
Week Ahead: - the US Markit Preliminary PMI reports, the incoming covid updates worldwide will continue to influence the broader market sentiment and eventually the USD/JPY pair.,
GBP/USD Bulls attack 1.3300 as Brexit optimism joins virus treatment hopes, refreshes intraday high to 1.3298. Abreak above the monthly high near 1.3315 becomes necessary for the bulls before challenging the yearly top of 1.3482 and immediate support 1.3240 to watch.
XAU/USD: - Gold is currently trading near $1,872 per ounce, having nearly tested, $1,876 a few minutes before press time.
Overview: - The immediate bias remains neutral. the Asian session low of $1,868 is the level to beat for the bears. A violation there would shift the focus back to the key support at $1,850. Trend is bearish.
EUR/USD rises to 1.1860 during Monday’s Asian session, buyers currently at 1.1881 now, while targeting to refresh the monthly peak surrounding 1.1920 and 1.2010. Downside, 1.1835 now, precedes a level of 1.1789 to probe the short-term downside.
AUD/USD refreshes monthly top above 0.7300, The pair recently gained from the positive shift in the risk-tone sentiment as well as upbeat data from Australia.
Week Ahead: - break above 0.7340/45, could get the bulls to move further. And have to wait for the break of support line 0.7270.
Good Luck & Let’s approach the market with proper education, Risk & Money Management rules.
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