EUR/USD
Current level – 1.1005
A prolonged downtrend seems the most likely scenario for EUR/USD despite the slowdown in downward momentum. At the moment, the pair is preparing to test the support at 1.0990 and if the price manages to violate this level, the chances for a test of the lows around 1.0880 will increase. Today’s session should be low in volatility as today is Thanksgiving Day in the US, but if the Eurozone economic data due to be released at 10:00 UK time and the data for the German economy (13:00 UK time) disappoint, larger price swings might follow.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1017 | 1.1140 | 1.0990 | 1.0880 |
| 1.1060 | 1.1170 | 1.0950 | 1.0880 |
USD/JPY
Current level – 109.38
The US dollar continues rising against the yen as risk is on for most market participants. The sentiment is positive for test of the resistance at 109.19 and eventually the next resistance at 109.50. If the uncertainty in financial markets rises leading to an appreciation of the yen, the nearest support lays at 108.90.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 109.60 | 109.45 | 108.90 | 107.05 |
| 109.60 | 109.80 | 108.64 | 106.60 |
GBP/USD
Current level – 1.2921
The bulls are in control as the Cable holds above the support at 1.2890 after the price could not break through 1.2820. Expectations are for a move towards 1.2965 and eventually a test of the zone around 1.3000. In the negative direction, the nearest support lays at 1.2890.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2960 | 1.2965 | 1.2900 | 1.2700 |
| 1.3000 | 1.3000 | 1.2820 | 1.2670 |
