Market Trade With Major Pairs
Market Morning Briefing: Pound Had Breached Resistance Near 1.35 (04-Dec-2017 at 09:03:49 am)
Pound (1.3468) had breached resistance near 1.35 on Friday to reach a high of 1.355 during intraday trading but closed below 1.35 at 1.3472. It is currently trading around the same levels, thereby implying a possible hold of resistance at 1.35 for the next few sessions. A breach of the same could however push it to test resistance at 1.36 on the weekly charts.
GOLD - Looks To Recover Higher On Bull Pressure (04-Dec-2017 at 08:23:10 am)
GOLD - The commodity looks to extend upside pressure following a price halt on Friday. 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 towards the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,320.00 level. All in all, GOLD looks to weaken further on correction.
USDCHF - Retains Downside Pressure (04-Dec-2017 at 07:26:15 am)
USDCHF - The pair backed off higher prices on Thursday leaving risk to the downside. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9850 level where a break will clear the way for more strength to occur towards the 0.9900 level. Further out, resistance comes in at the 0.9950 level. Above here if seen will turn attention to 1.0000. All in all, USDCHF faces further upside pressure.
EURUSD - Targeting Further Bull Pressure, Eyes 1.1960 Zone (04-Dec-2017 at 07:22:52 am)
EURUSD - The pair faces further upside as it looks for more strength. Resistance comes in at 1.1950 level with a cut through here opening the door for more upside towards the 1.2000 level. Further up, resistance lies at the 1.2050 level where a break will expose the 1.2100 level. Conversely, support lies at the 1.1850 level where a violation will aim at the 1.1800 level. A break of here will aim at the 1.1750 level. Below here will open the door for more weakness towards the 1.1700. All in all, EURUSD faces further downside threats.
Leave a Comment