Intraday Forex Friday, November 13 (USDJPY, EURUSD, & etc.) Safe-haven currencies edged higher as the coronavirus cases continue to surge.

Zulbahri_GB

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Hi everyone. This observation is made around 4:00 UTC today, with 15 minutes time frames. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Stocks in Asia declined on Friday, as vaccine momentum is starting to fade and the coronavirus cases continue to surge in the United States, Europe, and Japan, setting daily fresh records prompting the countries to reimpose public health restrictions.
Safe-haven currencies edged higher on Friday as investors crept back on concerns that successful tests of a COVID-19 vaccine may not be enough to offset the economic damage of winter in Europe and the U.S.

I also does analysis for some other currencies. Read more on the website on TECHNICAL ANALYSIS and DAILY MARKET NEWS.

[EURUSD]
  • The euro rose marginally overnight to climb back over $1.18, but it is down about 0.6% for the week so far.
  • The pair last sat at $1.1803 against the dollar on Friday.
  • Sentiment sagged overnight, as more recorded COVID-19 cases in the region were reported, plus the warnings from Fed Chair Powell, further setbacks in US stimulus talks, and dollar weakness.
  • U.S. Federal Reserve Chairman Jerome Powell warned Thursday that the “next few months could be challenging” despite recent developments on the vaccine front.
  • In Europe and the U.S., a second wave of infections has prompted the re-imposition of restrictions to stop the virus’ spread.
  • EU to release Q3 GDP report later today.
Important Levels to Watch for:
  • Resistance line of 1.19237 and 1.19718.
  • Support line of 1.17678 and 1.17196.
EURUSD.png


[USDJPY]
  • The dollar was lower on today trade, was last trading at 104.94 per yen, down 0.18% on the day, as more recorded COVID-19 cases in the region were reported.
  • Virus worries helped the yen recoup a little of its losses overnight, lifting it 0.3% against the greenback, but it remains about 1.6% lower for the week, which if sustained would be its sharpest weekly drop since falling 2.5% in the panic of March.
  • Japan is not in a situation that requires a state-of-emergency declaration again over the COVID-19 pandemic, Prime Minister Suga said on Friday, adding that experts backed that view.
Important Levels to Watch for Today:
  • Resistance line of 106.171 and 107.102.
  • Support line of 103.159 and 102.228.
USDJPY.png


For analysis of USDCHF, GBPUSD and other insight into the market, read more on the WEBSITE or click on TECHNICAL ANALYSIS and DAILY MARKET NEWS.
 
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