#EURUSD,#GBPUSD,#AUDUSD Forex Signal (30 NOV 2023)
EUR/USD Forex Signal: Rally Takes a Breather Ahead of US PCE Data
Bearish view
- Sell the EUR/USD pair and set a take-profit at 1.0920.
- Add a stop-loss at 1.1040.
- Timeline: 1-2 days.
Bullish view
- Set a buy-stop at 1.100 and a take-profit at 1.1065.
- Add a stop-loss at 1.0925.
The EUR/USD price stalled after a series of mixed economic data from the United States and Europe. The pair retreated to a low of 1.0975, a few points below this month’s high of 1.1017.
European inflation, US GDP data
The EUR/USD pair came under pressure after the encouraging European inflation and consumer confidence data. There are signs that the bloc’s inflation is in a downtrend.
EUR/USD technical analysis
The EUR/USD exchange rate has drifted downwards in the past few days. It has dropped from this week’s high of 1.1017 to 1.0980. The pair has also retreated slightly below the first resistance of the Woodie pivot point.
It has remained above the 50-period moving average while the Relative Strength Index (RSI) has dropped below the overbought level. Therefore, the pair will likely drop to the Woodie pivot point at 1.0920 as the rally takes a breather.
This view will be invalidated if the price moves above this week’s high of 1.1017. If it happens, the next price to watch will be the second pivot point resistance at 1.1040.
AUD/USD Forex Signal: Aussie Has More Upside Ahead of US PCE Report
Bullish view
- Buy the AUD/USD pair and set a take-profit at 0.6675.
- Add a stop-loss at 0.6585.
- Timeline: 1-2 days.
Bearish view
- Set a sell-stop at 0.6600 and a take-profit at 0.6500.
- Add a stop-loss at 0.6700.
The AUD/USD exchange rate pulled back on Wednesday after the strong US GDP data. After rising to a high of 0.6676, the pair retreated to a low of 0.6605. The pair has risen by more than 5.60% from its lowest point in October.
US PCE data ahead
The Australian dollar has been in a strong uptrend in the past few weeks as the US dollar index and VIX retreated. The dollar index retreated from the year-to-date high of over $107.3 to a low of $102.5.
AUD/USD technical analysis
The Australian dollar retreated sharply after the strong US GDP data. It moved from a high of 0.6676 to a low of 0.6600. The pair has remained above the 50-period Exponential Moving Average. It has moved slightly below the first resistance of the Woodie pivot point.
The Relative Strength Index (RSI) has moved from the extreme overbought level of 80 to below 26. Also, the Stochastic Oscillator has also retreated. The outlook for the pair is bullish, with the initial level to watch being this week’s high of 0.6676. The stop-loss of this trade will be at 0.6550.
GBP/USD Forex Signal: Sterling Uptrend Has Room to Run
Bullish view
Bearish view
- Set a sell-stop at 1.2720 and a take-profit at 1.2650.
- Add a stop-loss at 1.2820.
The British pound had a strong performance in November as the US dollar continued its downtrend. The GBP/USD pair surged to a high of 1.2740, its highest point since August 30th. It has risen sharply from its October low of 1.2040.
US dollar sell-off continues
The main theme in the forex market in November was the weak US dollar. The dollar index, which tracks the greenback against a basket of currencies, dropped to $102.50, its lowest point since August 13th.
GBP/USD technical analysis
The GBP/USD pair has risen in the past five straight days and is now hovering near its highest point since August. It has crossed the 50-day moving average on the daily chart. The pair has also moved above the Ichimoku cloud indicator.
Also, the Relative Strength Index (RSI) has continued rising and has moved to the overbought level. This is a sign that the pair has a bullish momentum. The Awesome Oscillator has also continued rising.
The Average Directional Index (ADX) has risen to over 30, the highest point since October. Therefore, the pair will likely continue rising, with the next level to watch being at 1.3000.
For more forex gold Indices analysis, Signals, and Account management services text me on my telegram: Claramellor
Best Forex Signal telegram
Forex Account Management Services
#Singapore #Dubai #Brasil #UAE #USA #Amsterdam #Brussels #Dublin #Lisbon #London #Paris #fx #fxinvestment #fxanalysis #fxtrader #scalping #xauusdgold #xauusdsignal #forex #FX #trading #forexsignals #forextrading #ForexNews #FXTrading #FXTrader #usa #Singapore #Hongkong #dubai #uk #Russia #Serbia #Germany #kuwait #Malaysia #Jordan #forex #Switzerland #Netherlands #france #saudi
0 comments:
Post a Comment