Weekly Forex Outlook: November 26-30

Let’s have a look at the economic calendar.

On Tuesday, we anticipate Consumer Confidence data for the US dollar and the Financial Stability Report from the Reserve Bank of New Zealand that will determine the strength of the New Zealand dollar.

On Wednesday, again the economic data will affect the direction of the USD. Take into consideration prelim GDP figures. The Bank of England will deliver stress test results. Negative comments may affect the GBP.

Thursday will bring events for the commodity currencies such as the Australian dollar and the New Zealand dollar. ANZ Business Confidence will put pressure on the kiwi. Private Capital Expenditure will show important figures for the Australian economy. Later that day traders will wait for the meeting minutes on the last decision of the Federal Reserve.

On Friday, traders will get a chance to trade on the Canadian GDP data. Remember to check comments from the G-20 summit. The meeting between the Chinese president and US president will affect the market sentiment.

Let’s consider market moves. The uptrend of the US dollar index keeps forming despite several falls. If the economic data are encouraging and there is no progress on the trade war with China, the US dollar index will keep moving up. The first psychological level to break is 97. In the case of the breakthrough, the next resistance is at 97.50. However, risks of the fall will prevail as the USD is climbing to significant highs. A fall below 96 will may provoke further decline.

Will the EUR keep forming the downtrend? The euro will be under pressure, as no significant economic events are planned for the upcoming days. Moreover, if the USD is able to reach crucial highs above 97, the EUR/USD pair will fall further down. The psychological support lies at 1.13. A break of this level will pull the pair to 1.1214. However, if the USD weakens, the euro will get a chance. The first important resistance to break is at 1.1420. The next resistance is at 1.15.

Where will the AUD go? The Australian dollar can’t form the uptrend. Negative economic data and an escalation of trade wars will pull the Australian dollar/US dollar pair down. The first important support will lie at 0.72. In the case of the breakthrough, the pair may meet the next support at 0.7170. A further fall will mean that the pair failed to form the uptrend. If the news is not so negative, the pair will have chances to recover. The first important resistance to break is at 0.7338.


Jackson Hole, Gold, and Powell | Market News
Jackson Hole, Gold, and Powell | Market News

The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.

Latest news

FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera