29.11.2019

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FX Brief:

Price Action:

• DXY produced another indecision candle below 98.45 on lower volumes surrounding US Thanksgiving. Roll on Monday…
• EUR/USD continues to consolidate above 1.1000, a clear line in the sand between bullish and bearish setups (with parity being the equivalent on USD/CHF). We just need volatility to return.
• USD/JPY is on track for its most bullish close in 3 weeks. The daily trend remains bullish above 108.24 but, judging how it’s anchored to recent highs, suspect it wants to break above 109.50.
• AUD/USD is on track for a 4th consecutive down week, although at current levels could finish with an inverted hammer on the weekly chart (potentially bullish).

Equity Brief:

Price Acton (derived from CFD indices):

• Hong Kong 50: Tumbled from the 27015 key short-term resistance; minor range top of 27/28 Nov 2019 and almost it is now close to the 14 Nov 2019 swing low of26200 with extreme oversold region seen in hourly oscillators. At risk of minor bounce with intermediate resistances to watch at 26600 and 26750.
• Japan 225: Broke below minor ascending trendline support from 21 Nov 2019 low with risk of further potential downside to eye near-term support at 23200.
• Germany 30: Broke below minor ascending trendline support from 21 Nov 2019 low after failure to breakout 13350 key medium-term range resistance. At risk of shaping a further potential push down to test the next near-term support at 13120.  

Matt Simpson and Kelvin Wong both contributed to this article

Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

Original from: www.forex.com