[rank_math_breadcrumb]

Forex Weekly Outlook- 08 to 12 November, 2021

Weekly Forex Outlook

There are some important releases this week, among them US CPI and PPI, BOE Gov Bailey Speaks, Unemployment Rate and Employment Change of Australia are the key market movers of the week. The investors are waiting for the US economy forecast. The current CPI is 0.4%, however it is expected to move higher to 0.5%. And PPI may rise from 0.5% to 0.6%.
Therefore, the investors may find the market a little volatile this week.

Let’s see what we have got for the coming week
from the EURUSD:

EUR/USD

After a fight between bulls and bears, EUR/USD closed the daily candle with a bullish sentiment. This week started with a bullish momentum as well. The current price of EUR USD is trading below the 1.1666 event level and above the 1.1524 support level. Therefore, considering the overall structure we should focus on finding a sell if the market closes below the 1.1666 level.

eurusd

In the chart above, we can see that the EURUSD is trading below the dynamic 20 EMA. However, there is a possibility of the price to move towards the 1.1800 level, which may alter the market condition.

GBP/USD

GBP/USD started last week with an impulsive bearish pressure and the price came down at 1.3410 key support level, which created a huge gap with the dynamic 20 EMA, which also indicates a possible bullish correction. The current price of GBP/USD is trading below the 1.3744 key resistance level. Therefore, considering the overall structure we should focus on finding a sell below the 1.3744 key level. If the price moves higher than the 1.3744 key level, the sell would be invalid.

gbpusd

In the chart above, we can see that the GBP/USD is trading below the dynamic 20 EMA with a bullish momentum.

Considering the current market structure, we may expect the price to move up towards the 1.3650 key level. However, a break below the 1.3650 key level may alter the market condition.

XAU/USD

Last week XAU/USD bulls were very aggressive. The price moved above the dynamic 20 EMA at 1818.17 key level, which indicates that a bearish pressure may come. The current price is trading below the resistance of 1831.61 key level and above the support of 1773.83 key level. Therefore, considering the overall structure we should focus on finding a buy above the 1782.28 closed candles.

xauusd

We can see in the above chart that XAU/USD is trading above the dynamic 20 EMA with a bearish momentum.

Considering the current market structure, we may expect the price to move lower towards the 1773.83 key level. However, a break above the 1782.28 level may alter the market condition.

BTC/USD

The current price of BTC/USD is trading above the dynamic 20 EMA with a bullish momentum. There is a possibility of moving the price higher towards the 70000.00 psychological level. Therefore, considering the overall structure we should focus on finding a buy above the 52011.30 with bullish closed candles.

btcusd

In the chart above, BTC/USD is above the dynamic 20 EMA and it has a higher possibility of moving towards the 70000.00 key level this week.

Considering the current market structure, we may expect the price to move higher towards the 70000.00 level.

Overall, there is a possibility of a decent price movement for both bulls and bears.

Technical Analysis You May Follow

Share on facebook
Share on twitter
Share on linkedin

Picture of The Forex Secret

The Forex Secret

We provide Forex Signal Service, Fund Management, Free Analysis & Discussion. With all these services we give forex trading guides for beginner to advance forex traders.

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Posts

foex signal telegram group

JOIN OUR FREE FOREX SIGNALS TELEGRAM CHANNEL

ARE YOU READY TO BECOME A SUCCESSFUL TRADER?

With our 30-day money-back guarantee, you have got absolutely no reason not to give us a try. You will not regret it.