Daily analysis 5 November
Publish Date : 2019/11/05 - 07:15

Daily analysis

Daily news: today we have CAD Trade Balance and USD ISM Non-Manufacturing PMI on the economic calendar.

XAUUSD: gold prices rose up to 1516 on Friday as we expected. it seems that it may move toward 1500 today and then start rising again.

EURUSD: we already said that if the 1.1170 resistence area holds,the pair may fall. The pair is currently trading at 1.1125 and this falling may continue,the pair may fall again from 1.1140 area according to the pair’s corrections on the lower timeframes.

GBPUSD: the pair may rebound to 1.2900 and then start to fall and continue to 1.2850 area.

USDCHF: the pair rebounded to 0.9890 area as it was said earlier. It may starts forming top in between 0.9890 and 0.9900.

USDJPY: the pair reached target at 108.45. today it may not have any significant fluctuation on London time and it seems that this upward trend needs a correction toward 108.60.

USDCAD: the pair fell down to 1.3130 area according to yesterday’s analysis and then it was supported. Today it may reach target at 1.3175.

AUDUSD: the pair strengthened after RBA rate statement which remained unchanged and optimistic comments. We still emphasize that if the weekly resistence breaks, it may rise further in long-term. Trading on the pair is not recommended for now.

NZDUSD: the pair may reach target at 0.6430 today.

Crude oil: Oil reached target at 55.25 as we said on Friday. We also provided a buy signal on signal section which hit the target. It seems that Oil main trend is upside and any correction may help the oil prices to move toward 58 area.

Dow jones: dow jones reached target at the afforsaid tops at 27300. Trading on it is not recommended for now.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. Navasangold, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

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