Daily analysis 8 November
Publish Date : 2019/11/08 - 08:16

Daily analysis

Daily news: today we Employment Change, Unemployment Rate and FOMC Member Brainard Speaks on the economic calendar.

XAUUSD:yesterday,gold was able to break below 1480 support as expected. And the further fall was due to the trade war come to an end. Gold prices did touch 1462 low and it is natural for the prices to rebound in between 1476 and 1478.

EURUSD: we expected the pair to fall according to Wednesday’s analysis which happened. Trading on the pair is not recommended for now.

GBPUSD: the pair reached target at 1.2850. if the pair can break below 1.2800 support,bears may take the upper hand and lower the price down to 1.2730.

USDCHF: the pair reached target at 0.9950 as we said on Wednesday’s analysis. It also rose up to 0.9980 area. It seems that the pair will be fluctuating in between 0.9930 and 0.9950.

USDJPY: the pair may move toward 109.50 after completing its correction toward 109.

USDCAD: the pair continued its upward trend as expectations. If the prices break above 1.3200 area it may rise further.

AUDUSD: the pair was not able to break above weekly top. The pair may start a new uptrend If trad deals come to a conclusion.

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 prices reached target at 57.80 but couldn’t continue its growth. We were emphasizing on 58 area since two weeks ago. It seems that it will be fluctuating in between 56 and 56.85.

Dow jones: we said it earlier not to trade on it because it might be very volatile.
It seems that dow jones may fluctuate in between 27600 and 27700 today.

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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