Daily analysis 6 November
Publish Date : 2019/11/06 - 06:30

Daily analysis

Daily news: today we have Crude oil inventories data and FOMC Member Williams Speaks on the economic calendar.

XAUUSD: gold reached target at 1500 yesterday. But It was not able to continue and returned to 1482. It seems that today it may rebound to 1487 area, but we cannot expect any further fall as long as the support area at 1480 holds.

EURUSD: the pair started to fall after a correction as we said earlier. If the prices can break below 1.1070,it may fall further down to 1.1020.

GBPUSD: the pair rebounded to 1.2900 according to yesterday’s analysis. It seems that the pair is moving toward 1.2850.

USDCHF: the pair reached target at 0.9900 and even rose higher. It may move toward its next target at 0.9950.

USDJPY: the pair seems to be in an upward trend. We cannot expect any further rise as long as the resistence area at 109.20 holds. Trading on the pair is not recommended.

USDCAD: the pair reached target at 1.3175 as we said earlier. We have 1.3145 support and 1.3180 resistence for today. But the pair is entering into an upward trend and it seems that USD is getting stronger.

AUDUSD: the pair is still struggling around its weekly top in between 0.6950 and 0.6900. trading on the pair is not recommended until we can identify the pair’s main trend.

NZDUSD: the pair fell down to 0.6375 after rising up to 0.6430. it seems that the pair may fluctuate in between 0.6375 and 0.6350 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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