Forex Forecast – FX Technical Commentary
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FX Technical Commentary
Euro 1.4850
Initial support at 1.4802 (Nov 20 low) followed by 1.4786 (0.618 of 1.4624-1.5049). Initial resistance is now located at 1.4966 (Nov 19 high) followed by 1.5016 (Nov 16 high)
Yen 88.85
Initial support is located at 88.64 (Nov 19 low) followed by 88.36 (Oct 9 low). Initial resistance is now at 89.75 (Nov 16 high) followed by 90.61 (Nov 12 high).
Pound 1.6475
Initial support at 1.6402 (Nov 4 low) followed by 1.6263 (Nov 3 low). Initial resistance is now at 1.6750 (Nov 19 high) followed by 1.6878 (Nov 16 high).
Australian Dollar 0.9125
Initial support at 0.8971 (Nov 4 low) followed by the 0.8907 (Nov 2 low). Initial resistance is now at 0.9337 (Nov 18 high) followed by 0.9406 (Nov 16 high).
Gold 1151
Initial support at 1127 (Nov 17 low) followed by 1118 (Nov 16 high). Initial resistance is now at 1152 (Nov 18 high) followed by 1165 (1.618 of 985 – 1070.80 from 1026.60).
Oil 77.60
Initial support at 76.00 (Intraday support) followed by 75.00 (Intraday support). Initial resistance is now at 78 (key level) followed by 80 (October high).
| Currency | Sup 2 | Sup 1 | Spot | Res 1 | Res 2 |
|---|---|---|---|---|---|
| EUR/USD | 1.4786 | 1.4802 | 1.4850 | 1.4966 | 1.5016 |
| USD/JPY | 88.36 | 88.64 | 88.85 | 89.75 | 90.60 |
| GBP/USD | 1.6516 | 1.6572 | 1.6475 | 1.6750 | 1.6878 |
| AUD/USD | 0.8907 | 0.8971 | 0.9125 | 0.9337 | 0.9406 |
| XAU/USD | 1127.00 | 1130 | 1151.00 | 1152.00 | 1165.00 |
| OIL/USD | 75.00 | 76.00 | 77.60 | 78.00 | 80.00 |
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