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Forex items for the week of 12 November 2018


(MENAFN – DailiFKS) Forex items for the week of 12 November 2018
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Dip, then Rip. Back to 97 for the US dollar
It was another busy week in global markets. Although global threat assemblies continued after the election results, the risk on the topics was questioned on Thursday after the FOMC decision. Although the bank kept pace and presented only slight changes to the last year's statement, it seems that global risk markets did not succeed in that meeting, as the early-week getaway stopped at his tracks, followed by a withdrawal on Friday.

, which is the situation of beer between Italy and the European Commission. On Tuesday, the deadline for the revised Italian budget was marked, and, based on comments in the past few days, it seems that both sides are not yet approaching the compromise. This is the same topic that brought the risk of adverse effects in April and May, and again at the end of September in October; and will bring similar concern next week because attention will be shifted towards a rather conceived situation that continues to be drunk in Europe.

The US dollar sets another test at the level of 97.00 and, like last week. Next week, I want to continue to look for strength in the US currency through the euro, and reduce weaknesses in other countries. Over the past two weeks I've been talking about yesterday's webinar. These settings are largely in a similar place as yesterday, so in order to avoid redundancy, they will direct these weekly short-term USD setups elsewhere.

US dollar for the eight-day chart price: Return to 97.00 After the previous week, the Trend-Line test chart prepared

Bearish EUR / USD for the USD-Strength Strategy as a situation between the European Commission and Italy comes in further direction. This is my favorite space for USD in the past few weeks, using the previous support zone as a fresh resistance ranging from 1.1448-1.1500. and 1.1500 lunches came into force Wednesday Wednesday, helping to capture the bullish move he had so far shown through trade in November.

The EUR / USD has been sold in the last two days, but from now on, the vendors were unable to take over 1,1300, and this could make it difficult for entry, given the proximity of support and resistance. For the next week, I want to look at the short-term EUR / USD strategy in one of two different ways: either downhill of 1.1300 low, which can open the door to a Medieval strategy of breaking up. Or, pulling to a lower high resistance around the level of previous support. Such an area exists from 1.1395-1.1430, which could allow the risk level to be set out this week to 1.1500.

EUR / USD Price chart of eight hours prepared

Bearish USD / CNH below 6.9900
Dollar-Iuan jumped 12% from the March level to the October level, and this is a topic of little political significance, as it talks about a constant range of tariff conversations. The pair has a multi-year maximum of 6.9875, and Juan was higher at the beginning of November, as the pair approached a re-test of that level. Given that these multiyear monthlys are approaching their participation, the issue is becoming more and more important as it carries indications of trade tensions between China and the US; brings with him more media attention in an already imagined situation, and it looks like a scenario that PBoC might want to avoid, at least for now.

This can open the door to set up steam reversals, and stops above 6.9900 handles to get levels of risk above the high-level high, together with initial targets set at 6.9000 and secondary targets by the beginning of November to about 6.8500.

USD / CNH Monthly price table: Inching Ready for the high-end high chart prepared

Bearish USD / CHF Below 1.0150
A little turbulence began to run in USD / CHF while the pair struggling around the key resistance area at 1.0071. This is the 23.6% Fibonacci retracement of the main move from 2016 to 2018, and this is the same level that helped mark a high level in July this year before a mutual turnaround occurred.

Former progress in USD / CHF lasts for a month and a half, and this level of resistance has helped to curb the heights in the last seven and a half days. This can open the door for switching settings with rates placed above level 1.0150, and initial targets set to .9950. Secondary targets can be targeted to the level of Fibonacci on .9902. And if the setup shows a strong reverse potential next week, additional outputs could be plotted around .9850, and then a support zone of .9750-.9767.

USD / CHF Weekly Price Chart: In the resolution table for 2018, prepared

To read more:
Do you look for a long-term analysis in the US dollar? Our have a section for each major currency, and we also offer a lot of resources on – such as, ". Traders can also stay with short-term positioning over our.

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— Written by James Stanley, a strategist for DailiFKS.com

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Forex items for the week of 12 November 2018

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