US Dollar Trying to Compensate Losses

Daily Forex Fundamentals | Written by Crown Forex | Nov 24 08 12:28 GMT |

Majors fluctuated in the European session, after the direction indicators got adjusted, clearing to us that their might be a possibility for the pairs to incline higher. The euro against the US dollar tested the resistance at 1.2680 levels, where it couldn't breach it which made it rebounded back deeply down to the support level at 1.2550 levels which was not breached also; this allowed the pair to gather an upside momentum in order to breach the resistance level mentioned above. If the pair managed to breach the mentioned resistance level a new target will be set at 1.2720 levels opening the path 74.6% correctional level which happens to fall on 1.2748, if the pair can't break the resistance level it will drop back to 1.2550. The pair recorded high of 1.2678 and a low of 1.2561. The upward movement still controls the GBP/USD trading, after it made a correctional movement extended to 1.4850 levels, this supported the pair with an upside momentum to push it back to trade again at 1.5000 levels, if the pair manages to breach the above mentioned levels then new targets at 1.5025 followed by 1.5050, the pair recorded a high of 1.5018 and a low of 1.4836. The USD/JPY pair started trading in a neutral movement fluctuating across the chart yet showing some signals that it would be climbing higher to compensate some of the losses that was faced in the Asian session; as now we see the pair trading around 95.60 levels trying to breach it in order to climb higher but according to the past period we can say the pair might not be able to break it. Technical indicators are showing that the upside momentum is weakening which would be pushing the pair down to 94.90 levels as a first target. The USD/JPY recorded a high of 95.98 levels and a low of 94.91 levels. Crown Forex disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.