Daily Forecast - 19 November 2015
EURUSD Spot
EURUSD seeing a short term recovery towards first resistance at 1.0695/1.0700 today. Shorts need stops above 1.0725. A break higher targets only minor resistance at 1.0746/50 then 1.0780/85. If we continue higher look for an excellent selling opportunity at 1.0820/30.
Failure to beat resistance at 1.0695/1.0700 targets 1.0670/65. Below here is more negative & re-targets 1.0630/25. Be ready to sell a break below 1.0615 if not already short to target 1.0570/65 then April lows at 1.0529/19. Further losses target 1.0496/93.
GBPUSD
GBPUSD on the way to a selling opportunity at 1.5310/15. This is the main challenge for bulls today but shorts need stops above 1.5340 with further gains to target 1.5355/58 then 1.5395/99.
Failure to beat strong resistance at 1.5310/15 targets first support at 1.5265/60. This could hold the downside but longs need stops below 1.5235. Below here look for support at 1.5205/00.
USDJPY Spot
USDJPY first support at 123.34/30 but below here targets better support at 123.10/05 for some profit taking on shorts. If we continue lower look for a buying opportunity at 122.90/85. A good chance of a low for the day but longs need stops below 122.70.
Our shorts need stops above 123.75. A break higher is a buy signal targeting 124.15 then 124.45/50. A break above 124.60 signals a move towards 125.00/05.
AUDUSD Spot
AUDUSD testing resistance at 7135 but a break higher looks likely & targets strong resistance at 7155/60. This is the main challenge for bulls today but shorts need stops above 7180. A break higher is a buy signal therefore & sees 7160/55 act as support to target 7190/95 then 100 day moving average & November highs resistance at 7215/20 for an excellent selling opportunity. Try shorts with stops at 7245.
Failure to beat 7135 risks a slide to first support at 7105/00 which could hold the downside but longs need stops below 7090. A break lower should re-target minor support at 7070/65.
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