FX MARKET REPORT 27.11.2020

FX MARKET REPORT 27.11.2020

FX MARKET REPORT 27.11.2020

Daily Commentary
FX MARKET REPORT 27.11.2020
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FX MARKET REPORT 27.11.2020

GBP/USD’s path of least resistance appears to the upside. The spot charted a bull pennant on the 15-minutes chart. Bullish crossover and RSI add credence to the advance. EUR/USD is edging higher as the pair is currently hovering around 1.1930, up 0.15% on the day. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, maintains a bullish outlook while the EUR/USD pair trades above the 1.18 level. The dollar weakened in early European trade Friday, set to post weekly losses with traders expecting large-scale stimulus from the new administration to combat the Covid-19 pandemic. The Dollar Index was down 0.1% at 91.892, near the three-month low since late Thursday. Volumes are likely to remain limited after Thursday’s Thanksgiving holiday in the U.S., with many traders set to enjoy a long weekend. USD/JPY fell 0.2% to 104.06. Additionally, AUD/USD rose 0.2% to 0.7372, near a three-month high, while NZD/USD gained 0.2% to 0.7021, near its strongest level in over two years.

GBP/USD’s path of least resistance appears to the upside. The spot charted a bull pennant on the 15-minutes chart. Bullish crossover and RSI add credence to the advance. EUR/USD is edging higher as the pair is currently hovering around 1.1930, up 0.15% on the day. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, maintains a…

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