Forex Technicals - The Week Ahead 20 Nov - 24 Nov

AUDUSD

Following last weeks poor wage growth data AUD tested the first ascending trendline. The following days Jobs data was tepid at best, last Friday risk off appetite intensified in global equities and the AUD broke through the trendline eventually. With low inflation and wage growth certainly means the RBA wont be in a position to raise rates any time soon whilst in the US the Fed will likely raise rates in December. Should they signal for further raises early in 2018 then from a fundamental perspective and interest rate differential its certainly looking bearish for the AUD particularly if risk off appetite in Global Equities persist.

To the downside a break below 75 cents and the last line of defense the 2nd ascending trendline would open the door to sustained selling till the next support levels around the 73500 zone.

Click link for interactive chart - https://www.tradingview.com/chart/2Se3Fyah/

EURUSD

Following on from last week and a break to the upside on that bullish flag pattern and subsequently the 50DMA , price is holding and the euro strength can be attributed to the current risk -off . To put it simply the Europeans are selling overseas investments from the US and any carry trade currencies and bringing their money back home.

Should Global equities continue to slide the Euro should continue to gain strength and the commodity dollars further weakness.

https://www.tradingview.com/chart/nNnmHMRi/

GBPUSD

Staying contained and range bound for now.

https://www.tradingview.com/chart/npEM2ee4/

USDJPY

Following from last weeks post it broke the 113 zone and basically did not look back as we float around the 112 zone.
Nearby support at 11.650 , so watch those equity markets this week for clues on FX direction.

https://www.tradingview.com/chart/oPIEJTQ5/

NZDUSD

https://www.tradingview.com/chart/qd1W0ZaQ/
Will be looking very shaky under the 68 handle.

Cheating a bit here as I'm throwing in one crypto chart within the forex technicals. Will start some crypto posting over the next week ... time poor life :(

ETHEREUM

Ethereum has traded around the $270 -330US zone for a while now with brief moments just above and below. Momentum seems moving to the upside and a break above the immediate descending trendline could be cause for one massive move to the upside and record highs printed.

https://www.tradingview.com/chart/5r183NqK/

Have great trading week ahead.
cheerio
fxcrypto