AUDUSD Stays Past Mid 0.7300 Level As COVID-19 Vaccine Optimism Halts Decline

AUDUSD Stays Past Mid 0.7300 Level As COVID-19 Vaccine Optimism Halts Decline

AUDUSD Price Analysis – November 26

The AUDUSD pair is oscillating in a range, past the mid-0.7300 level, and consolidated its recent gains higher during the European session on Thursday. The recent optimism over the COVID-19 vaccine and clarity on the US political front undermines the US dollar’s strength and halts the pair’s decline.

Key Level
Resistance Levels: 0.7500, 0.7413, 0.7375
Support Levels: 0.7340, 0.7250, 0.7160
AUDUSD Long-term Trend: Ranging
AUDUSD is struggling for a clear direction above 0.7300, despite the latest pullback from a multi-day high at 0.7413. Nevertheless, the ability to hold above the 0.7350 area gives buyers the hope of breaking the round 0.7400 number. Technically, the path of least resistance appears to be an uptrend as the price on the daily chart indicated a breakout of the bullish pennant.

The upward momentum is also supported by the 14-day Relative Strength Index (RSI), which is trending well above 50.00 with the potential for further gains as it stays beneath overbought territory. Bulls now wait for a sustained breach beneath the 0.7400 psychological barriers to challenge the 0.7413-year highs. Further north, the 0.7450 barrier test may appear in the picture.
AUDUSD Short term Trend: Ranging
The AUDUSD trend stays unaltered and the intraday bias stays upward to retest the 0.7413 high. A decisive breach may restart the bounce from the 0.5506 level. The next goal is the 0.7500 level. If the support level of 0.7250 is broken down, the displacement may shift back to the downside to continue consolidation from the 0.7413 level with another phase of decline.

A near-term low of 0.7220 could stop the pullback, beneath which 0.7200 levels may be tested. At the low, the pair may see some strong follow-up buying before traders position themselves for any further short-term AUDUSD upside, possibly past the 0.7400 level.

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EURUSD Gains Traction for the 3rd Day in a Row, Breaks Past 1.1920 Level on USD Selling

EURUSD Gains Traction for the 3rd Day in a Row, Breaks Past 1.1920 Level on USD Selling

EURUSD Price Analysis – November 26

EURUSD continues to gain traction for the 3rd day in a row and comfortably breaks past the 1.1920 marks. The pair registered a positive move and gained some follow-through traction on Thursday amid persistent selling pressure surrounding the US dollar.

Key Levels
Resistance Levels: 1.2150, 1.2011, 1.1920
Support Levels: 1.1800, 1.1740, 1.1622
EURUSD Long-term Trend: Ranging
From a technical point of view on the daily chart, the breakout of the high resistance of the prior monthly fluctuation around 1.1920 may have already paved the way for a return to the key 1.2011 level. On the other hand, the 5 moving average at 1.1880 now appears to be protecting the immediate downturn.

In a broader context, the increase from 1.0635 is seen as the third trend cycle from the 1.0339 (low) level. Further, a sustained rally to the cluster resistance at 1.2150 can be seen. This scenario may remain preferable as long as the resistance at 1.1422, which turned into a support level, remains unaltered.
EURUSD Short term Trend: Ranging
In the short term, EURUSD’s failure to hold above the 1.1920 level could lead to a pullback to the 4-hour moving average 13, which is currently at 1.1890. Adoption above 1.1920 is likely to generate stronger buying pressure. Meanwhile, EURUSD intraday bias remains positive for retest at 1.2011 high.

However, a decisive break could resume the general rally from the 1.0635 low. On the other hand, a break of near-term support at 1.1800 could displace the trend down to continue the consolidation trend from 1.2011 with another cycle of decline.

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XRP/USD Pulls Back at Resistance Level of $0.72

XRP/USD Pulls Back at Resistance Level of $0.72

XRP/USD Market November 26

After the price retracement, it may resume its bullish trend and the resistance level of $0.79 and $0.88 may be reached. Below the current price, the level is found the support levels at $0.55, $0.44, and $0.39. However, the relative strength index period 14 is at 70 levels bending down to indicate a sell signal which may be a pullback.

Key Levels:

Resistance levels: $0.72, $0.79, $0.88

Support levels: $0.61, $0.55, $0.49

XRP/USD Long-term Trend: Bullish

XRPUSD is bullish in the long-term outlook; the crypto soars towards the north by the strong bullish momentum. The bulls’ momentum breaks up the resistance levels of $0.28, $0.33, and $0.36. The price has tested the resistance level of $0.79 on October 24. The price pulls back to retest the broken level of $0.61. Today, the XRP market is dominated by the bears and the daily candle is bearish. The price may increase further after the pullback.

XRPUSD Daily chart, November 26

The two EMAs are located below the coin and it is trading far above 9 periods EMA and 21 periods EMA which indicate a strong bullish momentum. After the price retracement, it may resume its bullish trend and the resistance level of $0.79 and $0.88 may be reached. Below the current price, the support levels is found at $0.55, $0.44, and $0.39. However, the relative strength index period 14 is at 70 levels bending down to indicate a sell signal which may be a pullback.

XRP/USD medium-term Trend: Bullish

The bulls dominate the XRPUSD market. Immediately after the breakout from the consolidation zone, the bulls push the price high above the September high. It is currently pulling back at the resistance level of $0.72. The price is testing the support level of $0.55 at the time of writing this report. In case the just mentioned level does not hold, there will be a further price reduction.

XRPUSD 4-Hour chart, November 26

The price has penetrated the two EMAs downside and it is trading below 9 periods EMA and 21 periods EMA. The fast-moving EMA is trying to cross the slow-moving EMA downside. The relative strength index period 14 is pointing down at 50 levels which connotes a sell signal and it may be a pullback.

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AUD/JPY Faces Rejection at Level 77.00, a Downward Move Is Likely

AUD/JPY Faces Rejection at Level 77.00, a Downward Move Is Likely

Key Resistance Levels: 74.00, 76.00, 78.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bullish
The AUD/JPY pair is now in an upward move. The pair is currently facing resistance at level 77.0. On November 9, a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that the pair is likely to rise to level 1.618 Fibonacci extensions. That is a high of 79.55.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. The pair has risen to level 61 of the Relative Strength Index period 14. This indicates that the Yen is in the uptrend zone and above the centerline 50.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an upward move. On November 24 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This implies that the pair is likely to rise and reverse at level 1.272 Fibonacci extensions. That is the high of level 77.48. The implication is that the current uptrend may be short-lived.

AUD/JPY -4 Hour Chart

4-hour Chart Indicators Reading
The AUD/JPY pair is currently above the 80% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The Yen has fallen to an overbought region of the market. There is a likelihood of sellers emerging in the overbought region.

General Outlook for AUD/JPY
The AUD/JPY pair has been in an upward move. Bullish signals are indicating the upward movement of the pair. However, according to the Fibonacci tool analysis, the market will rise and reverse at the 1.272 Fibonacci extensions. That is the high of level 77.48.


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France 40 (FR40EUR) Is in the Overbought Region, May Resume Downward

France 40 (FR40EUR) Is in the Overbought Region, May Resume Downward

Key Resistance Zones: 5900, 6000, 6100
Key Support Zones: 5400, 5300, 5200

France 40 (FR40EUR) Long-term Trend: Ranging
FR40EUR index is in an upward move. On November 10 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will rise and reverse at level 1.272 Fibonacci extensions. That is at the high of 5822.80.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
The index is currently at level 73 of the Relative Strength Index period 14. FR40EUR is now trading in the overbought region. The 21-day SMA and the 50-day SMA are sloping sideways indicating the upward move.

France 40 (FR40EUR) Medium-term Trend: Bullish
On the 4- hour chart, France 40 is rising and in an upward move. On November 16 uptrend,a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will rise and reverse at level 1.272 Fibonacci extensions. That is at the high of 5575.40 high.

FR40EUR – 3 Hour Chart

4-hour Chart Indicators Reading
France 40 is currently above the 80% range of the daily stochastic. The index is in a bullish momentum and it is in the overbought region of the market. The moving averages are still sloping upward indicating the uptrend.

General Outlook for France 40 (FR40EUR)
France 40 is trading in the overbought region as per the lower and higher time frame. The indicators have indicted a possible reversal of the index.


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Ethereum (ETH) Price Analysis: Ether Reaches Target Price of $620 High, Faces Strong Selling Pressure

Ethereum (ETH) Price Analysis: Ether Reaches Target Price of $620 High, Faces Strong Selling Pressure

Key Highlights
Ethereum rebounds to reach the target price of $620 high
Ether is in a downward move after rejection at $620

Ethereum (ETH) Current Statistics
The current price: $582.16 
Market Capitalization: $66,119,012,987
Trading Volume: $18,754,000,214
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis November 25, 2020
Ethereum reaches the $620 price level but resumes a down move. Ether is approaching the high of $700 which is the price level of April 2018. However, the upward move will resume if price retraces and finds support above $580.

On November 24, the closed candlesticks are indicating long wicks. This indicates that there is strong selling pressure above the $620 high. Nevertheless, if price retraces and falls below $550, Ether will decline to $520 low. The altcoin has fallen to $583 at the time of writing.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The altcoin has fallen to level 71 of the Relative Strength Index. It indicates that the coin is trading in the overbought region of the market. Presently, ETH is below the 40% range of the daily stochastic. It implies that the coin is in a bearish momentum.

ETH?USD – 4 Hour Chart

Conclusion
The Fibonacci tool has already indicated that the coin will reach level 1.618 Fibonacci extensions. On November 21 uptrend, A retraced candle body tested the 61.8% Fibonacci retracement level. This retracement gives the impression that the uptrend will continue to rise to level 1.618 Fibonacci extensions. That is the high of $613.76



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GBPJPY Upside Move Capped by 139.74 Barrier As Mild Risk Tone Revives JPY Demand

GBPJPY Upside Move Capped by 139.74 Barrier As Mild Risk Tone Revives JPY Demand

GBPJPY Price Analysis – November 25

GBPJPY stalls upside move and stays capped by up to two-week highs at 139.74 level, the cross witnessed a modest pullback on Wednesday. The GBPJPY witnessed some selling and dropped to fresh daily lows around 139.00 level.

Key Levels
Resistance Levels: 142.71, 140.31, 139.74
Support Levels: 138.38, 137.50, 134.40
GBPJPY Long term Trend: Ranging
On the daily chart, after resistance at 139.74 stopped the upside, a sustained break below 139.00 could trigger some technical selling and leave the GBPJPY cross vulnerable to a pullback towards support at 138.38.

A subsequent decline below 138.00 could reveal intermediate support near the 137.50 area ahead of last week’s low of 137.20. As long as the resistance level of 144.95 remains, a possible breakdown remains in support. However, a breakout of 144.95 could increase the likelihood of a long-term bullish reversal.
GBPJPY Short term Trend: Ranging
The GBPJPY intraday bias remains rising towards the 140.31 resistance level. A sustained breach could renew the bounce off 133.04 support to retest 142.71 resistance next time.

On the other hand, a breach of the minor support level of 137.50 could reverse the downtrend towards the support level of 134.40. Hence, sellers may be targeting the support zone confluence and the retracement of the October downturn, trying to break the 139.00 level near the support.

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XAGUSD Finds Support in the Vicinity of $23.00 Zone on Mild USD Ease

XAGUSD Finds Support in the Vicinity of $23.00 Zone on Mild USD Ease

XAGUSD Price Analysis – November 25

Silver (XAGUSD) extended its rally after a rebound from lows around the vicinity of $23.00 zones during the European session on Wednesday. The dollar is keeping a little milder on the session now as it pares its earlier advance against the shining metal.

Key Levels
Resistance Levels: $26.00, $24.50, $23.50
Support Levels: $23.00, $22.60, $21.66
XAGUSD Long-term Trend: Ranging
Bulls are gearing up for another upside cycle, especially after buyers managed to defend the $23.00 support zone, avoiding channel breakdown on the daily chart. The 14-day Relative Strength Index (RSI) is in retracement mode, albeit as high as 40, indicating a small bounce could occur before the rally continues.

Further north, the bulls may try to bounce towards the powerful obstacle around the $24.50 level, followed by the $25.07 resistance level, which could challenge the bullish commitment. Alternatively, a drop below the $23 level could lead to openings to September lows at $21.66.
XAGUSD short-term Trend: Ranging
In the 4 hours chart, Silver is trading beneath $23.50 in the short-term uptrend line and continues to trade within the lower channel, which means that the shining metal’s short-term trend remains in the consolidation.

Aside from the $23 psychological level, which has already proven solid support, the next level to look out for is the $22.60 level, which could allow a retest of the September low of $21.66, where we look for signs of stabilization. On the other hand, if XAGUSD can break short term resistance at $23.50, the next level to watch out for will be $24.50.

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EUR/CHF Is in a Downward Move, May Reach the Low of 1.0744

EUR/CHF Is in a Downward Move, May Reach the Low of 1.0744

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Ranging
The pair has risen to level 1.0822 and it is facing resistance at the recent high. Today candlestick has a long wick at the upper price level. This indicates a strong selling pressure at a higher price level.Therefore the pair is likely to fall.

EUR/CHF -Daily Chart

Daily Chart Indicators Reading:
The pair is at level 66 of the Relative Strength Index period 14. It implies that the market is in an uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Bearish
On the 4-hour chart, the index has resumed a downward move. On November 24 downtrend; a retraced candle body tested 38.2% Fibonacci retracement level. This indicates that the pair will fall to level 2.618 Fibonacci retracement level. That is the low of 1.0744.

EUR/CHF – 1 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The pair is below the 40% range of the daily stochastic. It indicates that the market is in bearish momentum.

General Outlook for EUR/CHF
EUR/CHF is in a downward move. The pair is facing rejection from level 1.0850. The Fibonacci tool analysis has indicated a downward move to level 1.0744.


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Italy 40 (ITA40) Continues the Upside Momentum, Reaches Overbought Region at Level 21379

Italy 40 (ITA40) Continues the Upside Momentum, Reaches Overbought Region at Level 21379

Key Resistance Zones: 24000, 25000, 26000
Key Support Zones: 22000, 21000, 20000

Italy 40 (ITA40) Long-term Trend: Bullish
Italy 40 is in an uptrend. The index has risen since October 29. A retraced candle body tested the 88.6 Fibonacci retracement level. This implies that the index will rise to level 1.1129 Fibonacci extension level. The price will reach level 21533.

ITA40 -Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping upward. It indicates the current uptrend. The market has risen to level 71 of the Relative Strength Index. It indicates that the pair has reached the overbought region of the market

Italy 40 (ITA40) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an upward move. On November 9 uptrend, the ITA40 was resisted. The retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the index will rise to level 1.272 Fibonacci extension level and reverse. That is a high of 21379. However, the price reversal will not be immediate.

ITA40 – 4-Hour Chart

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic since November 2. Italy 40 is trading in the overbought region. The market is in a bullish momentum. The SMAs are sloping upward indicating the uptrend.

General Outlook for Italy 40 (ITA40)
Italy 40 is in an uptrend. According to the Fibonacci tool, the market will rise and reach level 1.272 or the high of 21379. From the price action, the price is supposed to surpass that level.


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