logo |

News

    Home   >     Original    >     Main body

    Daily Forex Analysis - 18 November 2020

    Abstract:Daily currency trading guides and market forecasts: NZD/USD, AUD/USD, USD/JPY, EUR/USD, GBP/USD, USD/CAD, GBP/JPY, EUR/JPY
    Lark20201105-133947.jpeg

      USD Overview (18 November 2020)

      Yesterday, USD weakened against most major currencies except AUD, NZD and CAD.

      The retail sales m/m data released yesterday indicated a strong slowdown in consumer spending in October as new COVID-19 restrictions have been imposed on businesses in some states.

      - Core Retail Sales m/m (Actual: 0.2%, Forecast: 0.4%, Previous: 1.2% revised from 0.3%)

      - Retail Sales m/m (Actual: 0.3%, Forecast: 0.5%, Previous: 1.6% revised from 1.9%)

      Earlier today, it was reported that President Donald Trump had fired a Department of Homeland Security official over his public refutation of the presidents claims on election fraud.

      The U.S. housing data will be released later at 2130 (SGT).

      - Building Permits (Forecast: 1.57M, Previous: 1.55M)

      - Housing Starts (Forecast: 1.45M, Previous: 1.42M)

      NZD/USD Outlook (18 November 2020)

    image.png

      Overall, NZD/USD is trending upwards. Recently, NZD/USD bounced off the key level of 0.69.

      NZD/USDs next support zone is at 0.67900 and the next resistance zone is at 0.70000.

      Look for short-term selling opportunities of NZD/USD.

      AUD/USD Outlook (18 November 2020)

    image.png

      Overall, AUD/USD is trending upwards. Recently, AUD/USD broke below the key level of 0.73.

      The Australian employment data will be released tomorrow at 0830 (SGT).

      - Employment Change (Forecast: -26.7K, Previous: -29.5K)

      - Unemployment Rate (Forecast: 7.1%, Previous: 6.9%)

      AUD/USDs next support zone is at 0.72200 and the next resistance zone is at 0.73900.

      Look for short-term selling opportunities of AUD/USD.

      USD/JPY Outlook (18 November 2020)

    image.png

      Overall, USD/JPY is ranging across. Recently, USD/JPY trended into the support zone of 104.200.

      Currently, USD/JPY is testing the support zone of 104.200 and the next resistance zone is at 106.300.

      Look for selling opportunities of USD/JPY if it breaks the support zone of 104.200.

      EUR/USD Outlook (18 November 2020)

    image.png

      Overall, EUR/USD is ranging across. Recently, EUR/USD bounced down from the key level of 1.19.

      EUR/USDs next support zone is at 1.17900 and the next resistance zone of 1.19800.

      Look for short-term selling opportunities of EUR/USD.

      GBP/USD Outlook (18 November 2020)

    image.png

      Overall, GBP/USD is trending upwards.

      The UK CPI y/y data will be released later at 1500 (SGT).

      - CPI y/y (Forecast: 0.5%, Previous: 0.5%)

      - Core CPI y/y (Forecast: 1.3%, Previous: 1.3%)

      Currently, GBP/USD is testing the resistance zone of 1.32200 and the next support zone is at 1.30400.

      Look for short-term selling opportunities of GBP/USD if it bounces off the resistance zone of 1.32200.

      USD/CAD Outlook (18 November 2020)

    image.png

      Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.31.

      During the OPEC+ meeting yesterday, many members expressed support for a three-month extension of the current level of oil production cuts.

      The Canadian CPI m/m data (Forecast: 0.2%, Previous: -0.1%) will be released later at 2130 (SGT).

      Currently, USD/CADs next support zone is at 1.30300 and the next resistance zone is at 1.32200.

      Look for short-term buying opportunities of USD/CAD.

      GBP/JPY Outlook (18 November 2020)

    image.png

      Overall, GBP/JPY is trending upwards. Recently, GBP/JPY has been ranging around the key level of 138.

      The UK CPI y/y data will be released later at 1500 (SGT).

      - CPI y/y (Forecast: 0.5%, Previous: 0.5%)

      - Core CPI y/y (Forecast: 1.3%, Previous: 1.3%)

      GBP/JPYs next support zone is at 137.500 and the next resistance zone is at 140.000.

      Look for buying opportunities of GBP/JPY if it breaks above the key level of 138.

      EUR/JPY Outlook (18 November 2020)

    image.png

      Overall, EUR/JPY is ranging across. Recently, EUR/JPY bounced down from the key level of 124.

      EUR/JPYs next support zone is at 122.600 and the next resistance zone is at 124.750.

      Look for short-term selling opportunities of EUR/JPY.

    Latest News

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.