Market Review: GBP / USD , USD / JPY and NZD / USD 11th november – 15th november

The GBP/USD is holding above the 1.59 support level after several attempts to break below it failed.
Today, the pair is climbing upwards after better than expected employment data.
Minor resistance lies at 1.60 and a break above this level can take this pair towards 1.6120 followed by 1.6260.

GBP-USD Chart -11th november 2013

GBP-USD Chart -11th november 2013

The USD/JPY finally broke upwards out of the triangular pattern (as we expected) and has already reached the 100 resistance area.
In general you should look for buying opportunities, either after a downward correction towards the 99.00 area or after a break above the 100 area. Expected targets lies at 101 followed by 103.50.

 

USD-JPY Chart -11th november 2013

USD-JPY Chart -11th november 2013

The NZD/USD has completed a bearish head and shoulders pattern and is being supported above 0.8190 where it will also hit the 200 SMA on the daily chart.
A break below this level can take the pair towards 0.81 followed by 0.7975.

 

NZD-USD Chart -11th november 2013

NZD-USD Chart -11th november 2013

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John Walker

John Walker

Editor at Tradingbroker.co.uk
John was born in London ( United Kingdom ) and studied at The London School of Economics. Currently he lives in Sydney ( Australia ) and he works as editor at Tradingbroker.co.uk.
John Walker

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