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Major Currency Pairs: EUR/USD USD/JPY GBP/USD : November 17, 2014

Published 11/17/2014, 06:13 AM
Updated 03/09/2019, 08:30 AM

EUR/USD

Current level - 1.2523


Friday's upswing signals, that the prolonged consolidation above 1.2357 is still underway and there is a risk of one more upswing towards 1.2600 area before renewal of the downtrend towards 1.2240. Crucial on the downside is 1.2397 and a violation of that level will unleash a slide towards 1.2240. Initial intraday support can be spotted at 1.2480.

Resistance

intraday intraweek 1.2576 1.2630 1.2630 1.2720 Support intraday intraweek 1.2480 1.2240 1.2397 1.2040

USD/JPY

Current level - 116.04

The pair has entered a corrective phase after today's peak at 117.04 and I expect it to be limited above 114.50 before advancing higher, towards 118.40 target zone. Initial resistance lies at 116.47 and intraday support is projected at 115.40.

Resistance

intraday intraweek 116.47 118.40 117.30 120.00 Support intraday intraweek 115.40 113.85 114.50 110.08

GBP/USD

Current level - 1.5663

The intraday bias is negative after the recent reversal at 1.5733, but I favor another bounce above 1.5590, for one more upswing towards 1.5750 before drowning to 1.5430 support zone.

Resistance

intraday intraweek 1.5730 1.5790 1.5790 1.6020 Support intraday intraweek 1.5590 1.5430 1.5430 1.5240

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