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Technical Analysis for 14/11/2016

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Technical Analysis for 14/11/2016

Technical Analysis for 14/11/2016
November 14
09:00 2016

USD / JPY – US DOLLAR JAPANESE YEN

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The situation after the elections of the US president is stabilizing. Traders and investors finally came to their minds and remembered that the president and the market are things that differ from each other. The president can influence the market, but only to some extent.

Thus, the situation hasn’t changed regarding the currency pair USD / JPY. Investors are still doing their best to avoid unnecessary risks. Hence, the currency pair USD / JPY continues growing. Most likely, the currency growth will continue. The next target for USD / JPY is at the level 109.50. There is also a probability of descending correction. As soon as the pair approaches the channel line, traders can start buying little by little.

Though, the USA policy will still influence the currency pair USD / JPY or, most likely, the statements of the new president. Moreover, the government of Japan has intentions to introduce corrections. That is why, many specialists also suggest one more option – falling of the pair till the 104 level. If that happens, then, most likely, the USD / JPY pair will continue falling till the level 101.

GBP / USD – BRITISH POUND DOLLAR

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The market is being stabilized after the elections in the USA. The situation is becoming more and more stable, and the currency pair GBP / USD was constantly growing the previous week. Also, rumours about special relationship between Trump and the premier-minister of Great Britain Theresa had their impact. As it was supposed, Trump is going to develop closer trading relationship with Great Britain.

Though, the market makes its corrections, the sterling cannot grow forever. Market is influenced by forces, different than the US president.

Hence, on 14.11.2016 the pair is going to test the lower line of resistance. That means that, most likely, the price of the sterling is going to fall. Though, the quotations may continue growing. Then, we can expect testing of the level 1,28. After that the currency pair will face the resistance level. The newt target for GBP / USD is 1,26. But even this is not the end. The next target is at the level 1,22. And finally, falling till the level 1,18.

EUR / USDEURO US DOLLAR

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After the results of the US president elections were announced, the market was all in mess. Investors were not ready to such a turn of the events. And this influenced the currency pair EUR / USD in full.

Now the market is being stabilized. Moreover, Trump is promising to make America great again. The situation with assets and currencies is being stabilized as well. The market makes its corrections in the policy. Though, the currency pair EUR / USD still finds it hard to adapt the changes.

The currency pair fell the previous week. Now it has to grow. Though that is not the case. The pair continues falling, and even tested the local minimum level. Specialists expect the testing of the level 1,0750. Then the “bullish” wave is expected. If “Bulls” are active, the currency pair will turn and start growing. Then, traders can start buying. The pair is expected to grow till the level 1,1150 and up.

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