Daily Technical Levels 6 November, 2017 About Major Pairs:

Daily Technical Levels 6 November, 2017 About Major Pairs:

Market Morning Briefing: There Was A False Spike To 1.1690 On The Euro After The US NFP (06-Nov-2017    at   08:37:42 am)

There was a false spike to 1.1690 on the Euro (1.1614) after the US NFP release on Friday, but the 

currency fell again later on. This increases its bearishness, suggesting some more dip towards 1.1550-

30 this week. Note that Dollar Index (94.895) has seen a high of 95.10 so far, in line with our target of 

95.50.

EUR/JPY Levels, Like Library Staircases (06-Nov-2017    at   08:31:48 am)

On the daily chart below, you can see that after breaking down through the trend line, price hasn't been 

able to make a lower low and has in fact stalled at the previous resistance turned support level that we 

have been speaking about:

Daily Technical Analysis: EURUSD, GBPUSD, USDJPY, USDCHF (06-Nov-2017    at   07:42:55 am)

The EURUSD attempted to push higher last week slipped above 1.1670 resistance but closed lower at 

1.1608. The bias is bearish in nearest term testing 1.1500 – 1.1450 region as a part of the “head and 

shoulders” bearish reversal scenario as you can see on my daily chart below. Immediate resistance is 

seen around 1.1670. A clear break above that area could lead price to neutral zone in nearest term but as 

long as stay below 1.1900 I remain bearish and any upside pullback should be seen as a good 

opportunity to sell.

GBPJPY - Eyes More Downside Pressure (06-Nov-2017    at   07:07:21 am)

GBPJPY - The cross eyes further downside pressure with more weakness envisaged in the new week. 

On the downside, support comes in at the 148.50 level where a violation will aim at the 148.00 level. A 

break below here will target the 147.50 level followed by the 147.00 level. Conversely, resistance is seen 

at the 150.00 level followed by the 150.50 level. A cut through that level will set the stage for a move 

further higher towards the 151.00 level. Further out, resistance resides at the 151.50 level. All in all, 

GBPJPY remains biased to the upside short term

EURUSD - Remains Vulnerable To The Downside On Bear Pressure (06-Nov-2017    at   07:06:19 am)

EURUSD - With the pair trading flat following price rejection the past week, more weakness is likely. 

Resistance comes in at 1.1650 level with a cut through here opening the door for more upside towards 

the 1.1700 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. 

Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here 

will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in 

all, EURUSD faces further recovery higher.

GOLD - Looks To Resume Its Downside Pressure (06-Nov-2017    at   07:05:29 am)

GOLD - The commodity saw a close lower the past week though marginally. On the downside, support 

comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut 

through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could 

trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 

1,280.00 level where a break will aim at the 1,290.00 level. A turn above there will expose the 1,300.00 

level. Further out, resistance stands at the 1,310.00 level. All in all, GOLD looks to strengthen further on 

correction.

This is Only Outlook not for recommendation buy or sell