EUR/USD
Current level – 1.1019
After Friday’s sell-off the EUR/USD found support around 1.1017. The retracement towards 1.1090 looks completed and bears are prevailing over the bulls. Expectations are for a renewal of the downtrend from the higher time frames and a breach of 1.0990 would open the possibility for a test of the minimum around 1.0880. An eventual shift in expectations and sentiment is possible only if the key resistance at 1.1170 is surpassed.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1060 | 1.1140 | 1.1017 | 1.0880 |
| 1.1090 | 1.1170 | 1.0990 | 1.0880 |
USD/JPY
Current level – 108.76
After a second test of the zone around 108.22 we see a slowdown in selling interest and the price could head towards the resistance at 108.90 and 109.20, in addition. The critical zone that should act as support and hold the market incase downward pressure increases is around 108.22.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.90 | 109.45 | 108.20 | 107.05 |
| 109.20 | 109.80 | 107.90 | 106.60 |
GBP/USD
Current level – 1.2844
On Friday the pound registered it’s biggest daily drop against the greenback in almost three weeks. The sterling weakened after bad economic news from the British business, making it’s worse downturn since mid 2016. The price reached and bounced from the support at 1.2820 and we might see the pair trading in the formed range between 1.2780-1.2965. Investors seem to be cautious before the general elections in the kingdom on the 12th December and a slowdown in the price action remains probable, given that expectations remain neutral.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2860 | 1.2965 | 1.2820 | 1.2670 |
| 1.2890 | 1.3000 | 1.2780 | 1.2550 |
