logo |

News

    Home   >     Industry    >     Main body

    Daily Forex Analysis - 26 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 (26 November 2020)

      Yesterday, USD weakened against most major currencies except CAD.

      The Preliminary GDP q/q data (Actual: 33.1%, Forecast: 33.1%, Previous: 33.1%) released yesterday indicated no change in quarterly GDP from the initial estimate.

      The New Home Sales data (Actual: 999K, Forecast: 972K, Previous: 959K) released yesterday indicated an increase in housing sales in October.

      U. S. banks will be closed today in observance of Thanksgiving holiday. Expect lower trading volatility and volume during the U.S. market session.

      NZD/USD Outlook (26 November 2020)

    image.png

      Overall, NZD/USD is trending upwards.

      Currently, NZD/USD is testing the resistance zone of 0.70000 and the next support zone is at 0.67900.

      Look for short-term buying opportunities of NZD/USD if it breaks the resistance zone of 0.70000.

      AUD/USD Outlook (26 November 2020)

    image.png

      Overall, AUD/USD is trending upwards.

      Currently, AUD/USD is moving towards the resistance zone of 0.73900 and the next support zone is at 0.72200.

      Look for short-term buying opportunities of AUD/USD if it breaks the resistance zone of 0.73900.

      USD/JPY Outlook (26 November 2020)

    image.png

      Overall, USD/JPY is ranging across.

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

      Look for short-term buying opportunities of USD/JPY if it bounces off the support zone of 104.200.

      EUR/USD Outlook (26 November 2020)

    image.png

      Overall, EUR/USD is ranging across. Recently, EUR/USD broke above the key level of 1.19.

      The European Central Bank will be releasing the minutes for the previous monetary policy meeting later at 2030 (SGT).

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

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

      GBP/USD Outlook (26 November 2020)

    image.png

      Overall, GBP/USD is trending upwards.

      During the release of the Autumn forecast statement by the UK HM Treasury yesterday, finance minister Rishi Sunak said that the UK will be borrowing almost 400 billion pounds this year to overcome the economic damage caused by the COVID-19 pandemic, about 19% of the countrys GDP.

      Yesterday, UK Prime Minister Boris Johnson said that the European Union has to accept the fact that the UK must have full control of their waters if progress on fisheries were to be made.

      GBP/USDs next support zone is at 1.32200 and the next resistance zone is at 1.34600.

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

      USD/CAD Outlook (26 November 2020)

    image.png

      Overall, USD/CAD is trending downwards.

      Currently, USD/CAD is testing the support zone of 1.30300 and the next resistance zone is at 1.32200.

      Look for short-term selling opportunities of USD/CAD if it breaks the support zone of 1.30300.

      GBP/JPY Outlook (26 November 2020)

    image.png

      Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced up from the key level of 139.

      During the release of the Autumn forecast statement by the UK HM Treasury yesterday, finance minister Rishi Sunak said that the UK will be borrowing almost 400 billion pounds this year to overcome the economic damage caused by the COVID-19 pandemic, about 19% of the countrys GDP.

      Yesterday, UK Prime Minister Boris Johnson said that the European Union has to accept the fact that the UK must have full control of their waters if progress on fisheries were to be made.

      Currently, GBP/JPY is moving towards the resistance zone of 140.000 and the next support zone is at 137.500.

      Look for short-term buying opportunities of GBP/JPY if it breaks the resistance zone of 140.000.

      EUR/JPY Outlook (26 November 2020)

    image.png

      Overall, EUR/JPY is ranging across.

      The European Central Bank will be releasing the minutes for the previous monetary policy meeting later at 2030 (SGT).

      Currently, EUR/JPY is moving towards the resistance zone of 124.750 and its next support zone is at 122.600.

      Look for short-term buying opportunities of EUR/JPY if it breaks the resistance zone of 124.750.

    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.