In the month of November, the US dollar, fell almost 2.75 percent. Decreases picked up momentum and intensified in recent trading periods.  Mainly a result of lower-than-expected inflation in the US numbers and dismal preliminary layoffs claims.  Sending the wider US dollar down to its lowest mark before the start of Sept

Diminishing inflationary trends, along with sluggish job markets, have essentially scratched the possibility of future FOMC tightening up. Undermining the case for keeping the benchmark rate high for extended. In light of the above, Treasury rates have declined considerably during November. Alongside a ten-year bond pricing at roughly 4.45 percent, down from 4.95 percent at the close of Oct.

Bond rates’ decline is unlikely to cease quickly. Given the effect of previous US Fed rises continuing to reverberate across the real economy with energy costs at several-month lowest points. Price inflation ought to decline quicker than expected, putting a strain on the government’s debt slope. That, in consequently, will have an effect upon the US dollar in the future.

In order to feel more certain in the gloomy forecast for the US currency. Upcoming data must indicate that job creation is slowing and that further lower inflation could be on the way. It has no significant announcements scheduled for the next few days. However, October’s durable goods data may garner some interest. Poor outcomes might be bad for the dollar, whilst positive outcomes could lead to the reverse.

The EURUSD –Technical Outlook

The EURUSD strengthened ahead of the holidays. Breaking above barrier at the 1.0900 level. Should this breakthrough sustain in the following days of trading. The values are expected to rise, paving the way for an upward trend to 1.0960 mark, the 61.8 percent The Fibonacci recovery that accompanied the July to Oct negative adjustment. The emphasis changes towards the 1.1070 area as intensity increases.

In the event on the contrary, market power turns to selling then the currency pair falls, levels of support appear around 1.0900 marker.  Followed 1.0840, and finally 1.0765 level. A decisive breach of those crucial levels might amplify negative momentum, paving the way for a drop below 1.0650 area. Prolonged weakening raises the possibility of a retest of the trend line supports at 1.0575 zone.

USDJPY Technical Outlook

the US dollar versus JPY fell on last Friday, approaching the 50-day (SMA), which is now just shy of 149.00. Should prices go below this critical key level in the next days, declines might accelerate, allowing for a drop below 147.25. As 100-(D-SMA) is the subsequent possible support level beneath this level of support.

If the pair’s exchange rate continues to rise, upper barrier is located around 150.90 mark then 152.00. Should the yen is endangered, Japan may intervene to maintain it; nevertheless, given a lack of FX action. The prices could rise to 152.65 level after a move upward. Additional gains could result to a surge over 153.50, the top border of a mid- rising wave.

GBPUSD Technical Outlook

the pound versus USD gained on last Friday, breaking above the 200 D-SMA and Fib barrier at 1.2461 mark. Assuming GBP manages to maintain its momentum upwards over this week. its 100- D-SMA will serve as the initial series of protection versus additional rises.  Nevertheless, a break over this level may accelerate prices to 1.2590, that marks the 50 percent Fibonacci retrace for the July to Oct downturn.

If traders reclaim control of the currency markets and force the exchanging rate sharply below the 200 D-SMA, the duo might fall as low as 1.2320 area. The GBPUSD may bottom towards this area prior trying a comeback. Nonetheless, an unravelling situation were able to provide values spiraling towards the 50-day moving average and then 1.2200 mark.

High 1.24949

Low 1.24452

Open 1.24527

Prev Close 1.24765

52Wk High 1.31274Since 7/13/2023-4.82%

52Wk Low 1.18265Since 3/7/20235.23%

20-Day Average 1.23149

200-Day Average 1.26524

14-Day Rel Strength 54.25136

14-Day Stochastic 48.52831

GBPUSD- Pivots