On Monday, the market is trading with a bullish dollar sentiment in the wake of stronger U.S. labor market figures. The Non-Farm Employment Change for November showed growth to 266K from expected 181K and supported the U.S. dollar. The Unemployment Rate of the United States also declined in November to 3.5% from previous & expected 3.6% and added in support of the U.S. dollar. Stronger than expected, U.S. economic data gave strength to the U.S. dollar on Friday against its rival currency Euro, which further added in the downward movement of EUR/USD pair. Bitcoin price is bestowing positive symptoms over the $7,400 resistance zone versus the US Dollar. The price is expected to clear the $7,560 and $7,600 resistances to stay higher. There is a primary bullish trend line building with support around $7,490 on the hourly chart of the BTC/USD pair. The BTC/USD could rally once there is a definite close over $7,600 and $7,700 in the following days. Bitcoin price is consolidating in a bullish zone over $7,400 versus the US Dollar. BTC is expected to test the $8,000 resistance as long as it is over the $7,160 swing low. Support Resistance 7,383.18 7,703.07 7,187.84 7,827.62 6,867.95 8,147.51 Pivot Point 7,507.73 The BTC/USD has violated a narrow trading range of 7400 - 7300. The pair was trading sideways on Friday has traders eye NFP figures. The current week has opened with a bullish bias as the BTC/USD crossed above 7400 resistance level to trade around 7500. For now, the pair may find support above 7450 levels along with resistance at 7,580 and 7,685. The EUR/USD closed at 1.10595 after placing a high of 1.11097 and low of 1.10396. Overall the movement for pair remained bearish that day. At 12:00 GMT, the German Industrial Production for October showed a decline in activity with -1.7% against the expectations of growth of 0.1% and weighed heavily on the single currency – Euro. At 12:45 GMT, the French Trade Balance came in as -4.7B against the expectations of -4.8B. At 14:00 GMT, the Italian Retail Sales also dropped to -0.2% from the predicted 0.5% and weighed on single currency Euro. Weaker than expected economic data from Eurozone put pressure on EUR/USD pair on Friday and caused it to move in a bearish trend. After the release of economic data from the American side, the pressure was added on the pair EUR/USD because of influential labor market figures. An 18:30 GMT, the Non-Farm Employment Change for November showed growth to 266K from expected 181K and supported the U.S. dollar. The Unemployment Rate of the United States also declined in November to 3.5% from previous & expected 3.6% and added in support of the U.S. dollar. Stronger than expected, U.S. economic data gave strength to the U.S. dollar on Friday against its rival currency Euro, which further added in the downward movement of EUR/USD pair. The exchange rate EUR/USD was dropped near 1.1039 level at the ending day of the week and gave most of the gains it collected throughout the week. Support Resistance 1.1031 1.1101 1.1 1.1141 1.093 1.1211 Pivot Point 1.107 The EUR/USD has completed the 50% Fibonacci retracement around 1.1050 level on the 4-hour chart. At the same level, the pair is getting support by the 50 periods EMA which is likely to push the pair higher towards 1.1075 pivot point level. The RSI is holding in an oversold zone, suggesting the chances of a bullish reversal in the EUR/USD. The crossing of 1.1075 can opens up further room for buying until 1.1110 today. The GBP/USD pair closed at 1.31340 after placing a high of 1.31553 and a low of 1.31002. Overall the movement of pair GBP/USD remained bearish that day. At 13:30 GMT, the Halifax Housing Price Index from the United Kingdom was released for November and supported single currency – Pound when came in as 1.0% against the expectations of 0.2%. Stronger than expected British Housing Price Index gave strength to Sterling and caused the movement of pair GBP/USD in an upward direction at the starting session of Friday. But the pair started to move in the opposite direction after the release of economic data from the United States. The Non-Farm payrolls and Unemployment Rate of the U.S. came in favor of the U.S. dollar on Friday and supported the greenback. Job reports showed an increase of 266K, and the Unemployment rate showed a decline to 3.5% in November. On the news front, the two men standing as a candidate for Prime Minister in the U.K. election went head-to-head on Friday before the U.K. goes to the polls on December 12. PM Boris Johnson repeated him "get Brexit done" campaign in his early rounds of debate with opposition leader Corbyn who hammered points on National health Service & the integrity of the Conservative Party. Six days before U.K. elections, the debate was the last chance for Corbyn to squeeze Johnson's lead in the polls, which mostly point to the victory for PM. The debate was much more than only Brexit and included the issues of security of law & order and the issues of anti-Semitism. Corbyn attacked Johnson by calling his promises to leave E.U. by the end of January as fraud and said that his Brexit deal would simply be the start of years of painful negotiations and broken promises. He also released a leaked government document that showed the divorce deal would lead to customs declarations and security checks between Britain & Northern Ireland, which contrasted with Johnson's statements that he would not create any barriers between province & the mainland. Corbyn added that there would be other secret reports like this one in each government department, which would reveal the disastrous impact of a damaging deal proposed by PM Johnson. However, Johnson, in response, called that document "complete nonsense." The debate campaign weighed slightly on the GBP/USD on Friday and added in the pressure, which was caused by a strong U.S. dollar. The pair dropped to 1.3100 level at the ending day of week ahead U.K. elections. Support Resistance 1.3103 1.3168 1.3069 1.32 1.3004 1.3265 Pivot Point 1.3134 The GBPUSD came under pressure due to positive NFP data, which has lowered the Fed rate cut sentiments. The GBP/USD is trading at 1.3145 level, above the 50 periods EMA level, which is supporting the pair around 1.3125. The GBP/USD has an immediate resistance at 1.3165, and below this, GBP/USD can drop until 1.3113 and 1.3075 level. All the best for today.

Today, the market is likely to exhibit thin volatility until the release of NFP figures. The German factory orders for October came in negative as -0.4% against the expectations of 0.3% and weighed heavily on single currency Euro. At 15:00 GMT, the Final Employment Change for Q3 from Eurozone remained flat at 0.1%. The Retail Sales for the month of October from Eurostat also came in negative. The figure was -0.6% versus the expectations of -0.4%, which weighed on the Euro. Slimier to another trading instrument in the market, the BTC/USD is trading in choppy ranges, exhibiting climactic moves over $7075. This level is increasing substantial resistance near 7600. Today, we want to keep the focus on the 7150 support zone as a violation of this can trigger sell-off until 6862 levels. The BTC/USD bearish bias proceeds to impact the BTC/USD as it has crossed below 50 periods EMA at the 7300 levels. The leading crypto pair has also violated the double bottom support level of 7210 to trade at 7130. The BTC/USD price is slowly fading, and it lately cracked the $7,200 support zone against the US dollar. Support Resistance 7,222.66 7,511.71 7,065.24 7,643.34 6,776.19 7,932.39 Pivot Point 7,354.29 The BTC/USD is also trading sideways with in the same trading level of 7720 - 7100, On the lower timeframe, the narrow trading range still remains 7465 to 7200. The 50 periods EMA is supporting the BTCUSD around 7300 today. Breakout will determine further bias for BTC/USD. The EUR/USD pair prices were closed at 1.1042 after placing a high of 1.11079 and low of 1.10771. Overall the trend for the EUR/USD pair remained Bullish that day. The German factory orders for October came in negative as -0.4% against the expectations of 0.3% and weighed heavily on single currency Euro. At 15:00 GMT, the Final Employment Change for Q3 from Eurozone remained flat at 0.1%. The Retail Sales for the month of October from Eurostat also came in negative. The figure was -0.6% versus the expectations of -0.4%, which weighed on the Euro. The EUR/USD exchange rate has been performing poorly in the last weeks but appeared to be on track to sustain substantial gains this week. The combination of global trade concerns and weak US data has weighed on the US dollar this week. The pair has shown mixed movements throughout the week until after the shocking contraction in US Manufacturing was released. Since then, the EUR/USD pair has gained traction and has been trending much higher. The latest data from Eurozone on Thursday did a little to offset the economic concerns when German Factory Orders and Retail Sales contracted. The figures came out in less than expected and weighed on the Euro. However, the Employment Change and GDP for Q3 remained flat and gave mixed signals. Fears that the trade talks of US & China could collapse because of mixed statements from US President Donald Trump has weighed on US Dollar. Trump has said that trade deal might get delay until after US elections in 2020 November, but China has not responded to US President's comment. As a result, the US Dollar remained unappealing throughout the market and gave a boost to its rival currencies like Euro. Support Resistance 1.1086 1.1115 1.1068 1.1126 1.104 1.1155 Pivot Point 1.1097 The EUR/USD formed a bullish trade setup yesterday as it violated and closed above a strong resistance level of 1.1090. This opens up further room for buying until 1.1155 and 1.1170, but again it depends upon the NFP. There are strong chances of a bullish trend in EUR/USD pair, but if NFP comes out to be positive, we may see selling in the EUR/USD pair. Support stays around 1.1080 and 1.1035. The GBP/USD pair prices were closed at 1.31553 after placing a high of 1.31663 and a low of 1.31015. Overall the trend for GBP/USD pair remained Bullish that day. The pair GBP/USD remained stronger on the outlook of next week's British Elections, where PM Boris Johnson's Conservative Party is maintaining a commanding lead. The GBP/USD has raised to 1.315 level this week ahead of UK elections on the back of demand for GBP. It is highly expected that the December 12 election of the United Kingdom will bring some form of closure to the British political uncertainty because of the increased expectations that the Brexit deal of PM Boris Johnson will remove the risks of the UK crashing out of the EU. This has opened the potential of further upside movement for Sterling. On the other hand, the US Dollar has remained under pressure due to mixed comments on trade deal from Trump. The uncertainty revolves around the completion of the interim trade deal. Trump first said that trade deal completion could delay to next year's end, and then he said talks were going very well. China has not commented on this statement of deal delay but has told that as part of the interim deal, tariffs must be removed. On Thursday, due to a lack of economic data from the United Kingdom, the pair GBP/USD moved with the Elections' forecast in favor of Torries and trade deal uncertainty. The US Dollar was supported after the release of the steady macroeconomic events like Trade Balance and Jobless claims, which helped to limit the gains of GBP. Support Resistance 1.312 1.3181 1.3082 1.3204 1.3021 1.3265 Pivot Point 1.3143 Recalling our previous analysis that above 1.3120 level, the GBP/USD is likely to extend trading bullish until 1.3145, while a bullish breakout of 1.3150 level can lead the GBP/USD prices towards 1.3197 level. The 50 EMA and leading indicators like RSI and MACD are also in supporting bullish bias in Sterling. The GBP/USD strong bullish trend continues as the pair is soaring towards 1.3180 resistance level. Technically, the pair should retrace back to complete 23.6% and 38.2% correction at 1.3125 and 1.3090. Let's see how NFP plays today. All the best for today.

The U.S. dollar remained mixed as the long-awaited ADP Non-Farm Employment change from the United States was released and came in as 67L against the expectations of 137K and weighed on USD. At 20:00 GMT, the ISM Non-Manufacturing PMI of the United States also dropped to 53.9 from the expectations of 54.5 and weighed on USD. Weaker than expected private-sector jobs in the United States and declined Non-manufacturing PMI added inn the upward trend of EUR/USD on Wednesday and helped it to rise to its highest level since 5 November.   The BTC/USD bearish bias continues to dominate the market as it has crossed below 50 periods EMA at the 7300 levels. The leading crypto pair has also violated the double bottom support level of 7210 to trade at 7130. The BTC/USD price is slowly fading, and it lately cracked the $7,200 support zone against the U.S. dollar. The price is currently trading above $7,100 and expected to remain lower. Yesterday's critical declining channel is still working with resistance around $7,320 on the hourly chart of the BTC/USD pair. The pair could improve higher, but bears are expected to keep market bearish below $7,200 and $7,250. Support Resistance 7,263.17 7,380.99 7,195.44 7,431.08 7,077.62 7,548.9 Pivot Point 7313.26 Just like other currency pairs in the market, the BTC/USD is also trading sideways, showing dramatic movements above $7075. This level is extending solid resistance around 7600. Today, we need to keep an eye on the 7150 support zone as a violation of this can trigger sell-off until 6862 level. The EUR/USD was closed at 1.10775 after placing a high of 1.11161 and a low of 1.10667. Overall the movement of EUR/USD remained Bearish that day. The EUR/USD pair hit the highest level since November 5 on Wednesday but turned towards downside into negative territory for the day. At 13:15 GMT, the Spanish Services PMI for November showed a growth to 53.2 from expected 51.9 and supported Euro. At 13:45 GMT, the Italian Services PMI showed a decline to 50.4 from expected 51.2 and weighed on Euro. At 13:50 GMT, the French Services PMI also weighed on Euro when it declined to 52.2 from expected 52.9. However, the German Final Services PMI at 13:55 GMT showed a growth to 51.7 from expected 51.3 and supported Euro. The overall Final Services PMI for the whole Eurozone also came in favor of Euro when it increased to 51.9 from the expectations of 51.5. Positive data from Eurozone supported single currency – Euro and showed a growth in the Service Sector of the economy in the month of November, which indicated that the non-manufacturing sector of the European Union was growing. On the other hand, at 18:15 GMT, the long-awaited ADP Non-Farm Employment change from the United States was released and came in as 67K against the expectations of 137K and weighed on USD. At 20:00 GMT, the ISM Non-Manufacturing PMI of the United States also dropped to 53.9 from the expectations of 54.5 and weighed on USD. Weaker than expected private-sector jobs in the United States and declined Non-manufacturing PMI added inn the upward trend of EUR/USD on Wednesday and helped it to rise to its highest level since 5 November. But in the late session, it started to move in a downward trend after the raised hopes on the trade deal when Bloomberg reported that China & the US were negotiating the amount of tariff which would be rolled back in the phase-one deal. The news was highly marketed and gave its impact in favor of greenback, which found some support after dropping due to the release of poor macroeconomic data on Wednesday. Riskier assets gained traction in the market after this news as safe-haven demand decreased amid increased trade optimism. Support Resistance 1.1068 1.1095 1.1053 1.1108 1.1025 1.1136 Pivot Point 1.1081 The EUR/USD showed a bullish fakeout on the 4-hour chart when it crossed over the 1.1090 resistance level. But the gains were limited as the pair reversed to trade below 1.1090 resistance right in the next candle. For now, this level is extending strong resistance, and below this, we can expect a slight retracement in the EUR/USD until 1.1060 and 1.1038. Conversely, the bullish breakout can lead EUR/USD prices towards 1.1120. The GBP/USD pair was closed at 1.31029 after placing a high of 1.31202 and a low of 1.29824. Overall the trend for GBP/USD remained Bullish that day. At 14:30 GMT, the Final Services Purchasing Manager’s Index (PMI) from the United Kingdom was released, which showed a growth in the month of November to 49.3 from the expectations of 48.6 and supported single currency – Pound on Wednesday. The poor ADP Non-Farm employment change from the United States, along with the decline in ISM Non-Manufacturing PMI on Wednesday, weighed on greenback against its rivals. At 18:15 GMT, the long-awaited ADP Non-Farm Employment change from the United States was released and came in as 67L against the expectations of 137K and weighed on USD. At 20:00 GMT, the ISM Non-Manufacturing PMI of the United States also dropped to 53.9 from the expectations of 54.5 and weighed on USD. The stronger Pound and weaker USD helped GBP/USD pair to move in an upward direction that day. Adding in the Bullish trend was the results from polls suggesting victory of PM Boris Johnson in upcoming British Elections on 12 December. YouGov MRP Poll, which was considered as a highly accurate predictor, suggested that Tories would hold the maximum number of seats in the UK Parliament in the next elections. On the back of the Conservative party’s expectations to win the election and leave the UK from the European Union by the end of January 2020, Pound remained in continuous demand for four previous days. And on Wednesday after the release of macroeconomic data in favor of Pound, GBP/USD pair raised to its 6-months highest level and crossed the 1.312 level. Support Resistance 1.2951 1.3024 1.2908 1.3055 1.2835 1.3128 Pivot Point 1.2981 The GBPUSD is entering the overbought zone, and it may offer us a selling trend until 1.3085 and 1.3055 before offering further buying trends. Above 1.3120 level, the GBP/USD is likely to continue trading on the upper side until 1.3145, while a bullish breakout of 1.3150 level can lead the GBP/USD prices towards 1.3197 level. The 50 EMA and leading indicators like RSI and MACD are also in supporting bullish bias in Sterling. All the best for today.

On the forex front, the U.S. dollar remained under pressure, dragged by sinking Treasury yields. The ICE U.S. Dollar Index was down for a third session as it declined by 0.2% to 97.73. The U.S. government bonds received bids as the trade war seemed not to end soon. The benchmark 10-year Treasury yield plunged 12.7 basis points to 1.708%, the most substantial loss since August 1. At the same time, the Trump administration is on schedule to impose fresh tariffs on imports from China on December 15. The BTC/USD price is slowly fading, and it lately cracked the $7,200 support zone against the U.S. dollar The price is currently trading around $7,100 and expected to remain lower. Yesterday's critical declining channel is still working with resistance around $7,320 on the hourly chart of the BTC/USD pair. The pair could improve higher, but bears are expected to keep market bearish below $7,200 and $7,250. Support Resistance 7,197.1 7,404.45 7,076.79 7,491.49 6,869.44 7,698.84 Pivot Point 7,284.14 The BTC/USD bearish bias continues to dominate the market as it has crossed below 50 periods EMA at the 7300 levels. The leading crypto pair has also violated the double bottom support level of 7210 to trade at 7130. The extended bearish candle on the hourly chart signifies chances of the more bearish trend until 7020. Whereas, below 7020, the BTC/USD can drop further until 6867. The euro remained firm at $1.1081. Official data showed that producer prices in the Eurozone dropped 1.9% on year in October (-1.8% expected). The Markit U.S. Services Purchasing Managers' Index (PMI) for November (final reading) is expected to be in-line with the preliminary reading of 51.6. And the Institute for Supply Management's (ISM) non-manufacturing PMI is expected to release at 54.5 for November (54.7 in October). In Europe, the Markit Eurozone Services PMI (final reading) is expected at 51.5, and the Markit/CIPS U.K. Services PMI (final reading) at 48.6. At 12:445 GMT, the French Gov Budget Balance was published by the French Treasury Agency, which came in as negative -107.7B. At 13:00 GMT, the Spanish Unemployment Change from the European Ministry of Employment was released, which showed a drop to 20.5K from expected 75.2K and supported the single currency – Euro. The EUR/USD currency pair could find acceptance above 1.1097 if the greenback weakens significantly. The US ADP Employment report, due at 13:15, is expected to show the private sector added 140K jobs in November compared to 125K jobs in October. Meanwhile, the ISM Non-Manufacturing PMI (Nov) is seen printing at 54.5 against 54.7 in October. Support Resistance 1.1025 1.1112 1.097 1.1145 1.0883 1.1232 Pivot Point 1.1057 The EUR/USD soared to place a high 1.1093 region, but here it's examining the triple top resistance at 1.1090 level. Closing of doji and spinning top is suggesting chances of a bearish bias in the EUR/USD pair. We can anticipate the EUR/USD to slip until 1.1050, the 38.2% Fibo and 1.1040 level, which completes the 50% retracement for the EUR/USD. On the other side, a bullish breakout of 1.1085 level can trigger buying until 1.1120, but it seems the least likely scenario due to the absence of significant economic data. The British pound climbed 0.4% to $1.2993, extending its rally to a third session. The Markit/CIPS U.K. Construction PMI posted 45.3 for November (44.5 expected, 44.2 in October). The GBP/USD closed at 1.29912 after placing a high of 1.30110 and a low of 1.29302. Overall the movement of pair GBP/USD remained Bullish that day. At 5:01 GMT, the Annual Retail Sales Monitor from British retail Consortium (BRC) was published and showed a drop to -4.9% from expectations of -0.4% and weighed on GBP. However, at 14:30 GMT, the Construction Purchasing Manager's Index (PMI) showed growth to 45.3 from expected 44.5 and supported Sterling on Tuesday. Stronger than expected Construction PMI from the United Kingdom supported single currency – Pound and caused the movement of GBP/USD is Bullish trend. GBP/USD pair raised above 1.30 level on Tuesday, which was its highest level since mid-October and some pips away from 1.3013 level, which was the highest since May. The rise in GBP/USD was caused by favorable opinion polls for PM Boris Johnson and the weakened U.S. Dollar. U.S. Dollar has been on the back foot after the release of weak ISM Manufacturing PMI on Monday, and the latest trade headlines are also not helping U.S. Dollar. Trump on Tuesday insisted that he would stay out of the upcoming British General Elections. He exclaimed that he did not have designs on National Health Service as part of the post-Brexit US-UK trade deal. Trump insisted that If NHS were handed on a silver platter even then, he would not have wanted it. He added that he had nothing to do with the NHS. The comments from U.S. President Trump were considered as an intervention aimed at helping his friend Boris Johnson. However, the opposition leader Jeremy Corbyn has claimed in his election campaign that if Johnson wins the election, he will strike an uneven post-Brexit deal with U.S. that would undoubtedly see Britain's NHS drugs market in play. Jeremy acknowledged that his party had obtained classified British Govt. documents which can prove that Washington wanted greater access to NHS for its healthcare companies. Conservative Party, aka Tories, has vehemently denied the allegations. Support Resistance 1.2951       1.3024 1.2908      1.3055 1.2835      1.3128 Pivot Point 1.2981 The GBP/USD is on a bullish run since it violated the triple top resistance level of 1.2975. Even for now, the pair has closed series of candles above this level, which is making this level very crucial for Sterling buyers. Above this level, the GBP/USD is likely to continue trading on the upper side until 1.3010, while a bullish breakout of 1.3010 level can lead the GBP/USD prices towards 1.3117 level. The 50 EMA and leading indicators like RSI and MACD are also in supporting bullish bias in Sterling. All the best for today.

The United States, the ISM Manufacturing PMI came weaker than expected for November and weighed on U.S. Dollar. At 20:00 GMT, the ISM Manufacturing PMI from the U.S. dropped to 48.1 against the expectations of 49.2. Besides, the European Central Bank's new President, Christine Lagarde, said that ECB would remain "resolute" in restoring the price stability of the Eurozone under her presidency. She added that an upcoming strategy review will be wide-ranging and would include Inflation as well as climate change. The BTC/USD weekly graph drew a thread that tested the support level of around $6,550 during the previous week, placing a low just below a downside wick from May 2019. Under $6,550, the coin requires weekly support and unusual price action unto $5,760. Back in April, Bitcoin's price recorded crucial price action between $5,760 and $4,890, symbolizing a place of future support. This range of support also corresponds with the digital asset's 200-week moving average near $4,990. On Tuesday, the leading cryptocurrency continues to hold above the 7,220 support zone. A bearish breakout of 7200 levels on the 4-hour chart can help traders capture a sell position until 6900. Support Resistance 7,197.1 7,404.45 7,076.79 7,491.49 6,869.44 7,698.84 Pivot Point 7,284.14 The BTC/USD consolidates within the same technical ranges that we spoke about yesterday. The leading cryptocurrency continues to hold above the 7,220 support zone. A bearish breakout of 7200 levels on the 4-hour chart can help traders capture a sell position until 6900. Conversely, the closing of Bitcoin above 7200 can extend buying until 7415 today. The leading indicator, such as MACD, is holding below zero along with RSI below 50, suggesting chances of a bearish bias among traders today. The EUR/USD pair closed at 1.10784 after placing a high of 1.10910 and low of 1.10029. Overall the movement of pair remained strongly Bullish that day. At 13:15 GMT, the Spanish Manufacturing PMI showed growth to 47.5 against the expectations of 46.5 and supported single currency – Euro. At 13:45 GMT, the Italian Manufacturing PMI also showed a minor growth of 47.6 against the expectations of 47.5, at 13:50 GMT, the French Manufacturing PMI also supported Euro when released as 51.7 against the expected 51.6. At 13:55 GMT, the German Manufacturing PMI also showed growth in November to 44.1 against the expectations of 43.8. At 14:00 GMT, the Final Manufacturing PMI for the whole Eurozone also increased to 46.9 from expected 46.6 and supported Euro. The stronger than expected PMI from the whole Eurozone gave strength to the single currency Euro against its rival U.S. Dollar, which remained weaker on Monday after the release of PMI from the U.S. At 20:00 GMT, the ISM Manufacturing PMI form the U.S. was dropped in November to 48.1 from expected 49.2 and weighed on U.S. Dollar. Strong Euro and weak Dollar on Monday gave a push to EUR/USD prices to leap them near session top at 1.1091. The European Central Bank's new President, Christine Lagarde, said that ECB would remain "resolute" in restoring the price stability of the Eurozone under her presidency. She added that an upcoming strategy review will be wide-ranging and would include Inflation as well as climate change. She acknowledged the side-effects of the ultra-loose policy of ECB and said that the review would focus on a better understanding of how the longer-term trends affect the things which can be controlled by the Central Bank. She said that despite years of pumping liquidity into the financial system, Inflation was far from returning to the goal of "below, but close to 2%". She said that ECB itself has become concerned that its policy might threaten financial stability. Christine Lagarde would hold her first Monetary Policy Meeting at ECB on December 12. Support Resistance 1.1025 1.1112 1.097 1.1145 1.0883 1.1232 Pivot Point 1.1057 The EUR/USD spike to place a high around 1.1085 area, but here it's testing the double top resistance at 1.1080 level. Closing of tweezers top is suggesting chances of a bearish bias in the EUR/USD pair. We can expect the EUR/USD to drop until 1.1050, the 38.2% Fibo and 1.1040 level, which marks 50% retracement for the EUR/USD. On the flip side, a bullish breakout of 1.1085 level can trigger buying until 1.1120, but it seems the least likely scenario due to the absence of significant economic data. The GBP/USD closed at 1.29381 after placing a high of 1.29488 and a low of 1.28957. Overall the trend for GBP/USD remained Bullish that day. At 14:30 GMT, the Final Manufacturing Purchasing Manager's Index (PMI) from the United Kingdom was published and showed growth to 48.9 from the expectations of 48.3 for November. Stronger than expected PMI gave strength to single Currency – Pound on Monday. On the other hand, from the United States, the ISM Manufacturing PMI came weaker than expected for the month of November and weighed on U.S. dollars. At 20:00 GMT, the ISM Manufacturing PMI from the U.S. dropped to 48.1 against the expectations of 49.2. Steady GBP and Weak USD moved GBP/USD is bullish trends at the starting day of the week. As the U.K. elections are near, there are chances that volatility will rise in the British Financial market. Last week, the poll results showed mixed results relating to victory in elections. The closely watched YouGov MRP Poll, which had a lot of attention of traders, predicted that the Conservative Party would win the elections. The reason being the YouGov poll as highly trusted was its accurate prediction in 2017. The pound has been deriving its strength from this prediction, given the reduced risk of another hung parliament in case of another party winning the election, which could immediately bring back the prospect of no-deal Brexit. The market is moving under the expectation of polls to prove accurate and Boris Johnson to win upcoming elections with a majority and then for the U.K. to leave E.U. on scheduled January 31, 2020. Support Resistance 1.2908 1.2961 1.2876 1.2982 1.2823 1.3035 Pivot Point 1.2929 The GBP/USD is on a bullish run since it violated the double top resistance level of 1.2925. Even for now, the pair has closed series of candles above this level, which is making this level very crucial for Sterling buyers. Above this level, the GBP/USD is likely to continue trading on the upper side until 1.2970, while a bullish breakout of 1.2970 level can lead the GBP/USD prices towards 1.3010 level. The 50 EMA and leading indicators like RSI and MACD are also in supporting bullish bias in Sterling. All the best for today.

On Monday, the market continues to trade with the risk-on sentiment as traders are feeling optimistic about the market since the release better than expected Chinese manufacturing PMI data. That reflects the world's one of the biggest nations is still on track to recovery. The dollar remained under pressure on Friday amid the increased tensions between US & China after the signing to Hong Kong Bill by US President Trump and gave GBP/USD an upward track. The US Dollar index remained under pressure after the thanksgiving holiday despite higher US yields. The German Unemployment Change at 13:55 GMT supported Euro with a drop to -16K against the expectations of 5K. At 14:00 GMT, the Italian Monthly Unemployment rate was also dropped to 9.7% from the expectations of 9.8% and supported Euro.   Over the weekend, the BTC/USD hasn't made much progress as it continued to trade above 7,310 support zone. Overall, the pair has formed a symmetric triangle pattern, which is keeping the Bitcoin in consolidation within the 7,700 - 7,300 area. The BTC/USD price is now beneath the 200-DMA ($9,403), and the graph shows price drawing closer to the price at $5,660. Traders will also see that through times of consolidation, Bitcoin value mounts along with the 200-week moving average, which is at $4,878 on the daily chart. Since sinking below the descending channel on Nov. 25, Bitcoin (BTC) has recovered $7,000, netted some strong resistance at $7,400, and now proceeded to it's way up to over $7,500 during the time of writing this review. Support Resistance 7,495.8 7,925.5 7,248.79 8,108.05 6,819.16 8,537.68 Pivot Point 7,678.42 A bearish breakout of 7,300 levels on the 4-hour chart can help traders capture a sell position until 6,900. Conversely, the closing of Bitcoin above 7,300 can extend buying until 7415 today. The leading indicator, such as MACD, is crossing below zero, suggesting chances of a bearish bias among traders today. The EUR/USD closed at 1.10152 after placing a high of 1.10282 and a low of 1.09810. Overall the trend for the EUR/USD pair remained Bullish that day. At 12:00 GMT, the German Retail Sales for October were dropped to -1.9% against the expectations of -0.2% and weighed on the single currency – Euro. At 12:45 GMT, the French Consumer spending remained flat at 0.2%. However, the French Prelim CPI was increased to 0.1% from the expected 0.0% and supported Euro. The French Prelim GDP also remained flat with expectations of 0.3%. The German Unemployment Change at 13:55 GMT supported Euro with a drop to -16K against the expectations of 5K. At 14:00 GMT, the Italian Monthly Unemployment rate was also dropped to 9.7% from the expectations of 9.8% and supported Euro. At 15:00 GMT, the CPI Flash Estimate for the Year from Eurozone showed growth to 1.0% against the expectations of 0.8% and supported Euro. The Core CPI Flash Estimate also rose to 1.3% from the forecasted 1.2%. The Italian Prelim CPI came in as 0.0% against the expectations of -0.2% and supported the single currency. Finally, the Unemployment Rate for Eurozone was also dropped in October to 7.5% from September’s 7.6% and supported Euro. The Stronger than expected macroeconomic data from Eurozone on Friday supported the single currency – Euro and raised it against its rival currency US Dollar. Strong Euro gave a jump to the prices of EUR/USD at the ending day of the week but remained under selling pressure due to the strength of the US Dollar. US Dollar was strong across the board throughout the week amid Stronger than expected macroeconomic data suggesting a firm foot of US Economy under current unstable global situations. EUR/USD dropped near two weeks low point on Friday amid the escalating tensions of US & China but managed to end its day with a Bullish trend on the back of robust economic data. Though the data showed that eurozone inflation for November accelerated faster than expected but, the annual inflation remained far lower than the target of the European Central Bank. Members of ECB were discussing the potential for resetting the inflation target at below but close to 2%. Support Resistance 1.099 1.1037 1.0962 1.1056 1.0915 1.1103 Pivot Point 1.1009 The EUR/USD violated the narrow trading range of 1.1016 - 1.0992 to trade around the 1.1020 trading level. For now, the EUR/USD's new trading range is 1.1030 - 1.1015. A bullish breakout of 1.1030 can lead the EUR/USD prices towards 1.1055, and on the lower side, 1.0985 remains the ultimate support. The GBP/USD closed at 1.29170 after placing a high of 1.29418 and a low of 1.28788. Overall the trend for GBP/USD remained Bullish that day. The Sterling was calm on Friday with Brexit hanging over the UK and general elections after two weeks. No news from Brexit or UK Politics held the movement of GBP/USD within a tight range at the ending day of the week. On the data front, the Gfk Consumer Confidence at 5:00 GMT, from the UK, remained flat at -14. At 14:30 GMT, the M4 Money Supply from the UK for October dropped to 0.0% from the expectations of 0.5%. The Mortgage Approvals also remained flat with expectations of 65K. However, the Net Lending to individuals from the UK showed growth to 5.6B against the expectations of 4.5B. Mixed data from the United Kingdom on Friday gave almost null-effect to GBP/USD prices. The dollar remained under pressure on Friday amid the increased tensions between US & China after the signing to Hong Kong Bill by US President Trump and gave GBP/USD an upward track. US Dollar index remained under pressure after thanksgiving holiday despite higher US yields and supported the upward trend of GBP/USD. On the other hand, Pound traders continued to buy GBP/USD with the expectations of Torrie's victory in upcoming general elections in mid-December. The YouGov MRP analysis this week predicted the triumph of the Conservative Party in forthcoming elections. This poll in 2017 accurately predicted the fall of Theresa May and was highly under observation this year for the prediction of election results. Support Resistance 1.2889 1.2955 1.285 1.2984 1.2784 1.3051 Pivot Point 1.2917 On the hourly chart, Sterling has completed 61.8% Fibonacci retracement at 1.2900 level, and it's extending its reliable support. Above this, the pair can soar to 1.2930 today. Whereas, the bearish breakout of 1.2900 can drive further selling until 1.2880. The trading range is still very narrow for the GBP/USD, and it's 1.2930 - 1.2900. All the best for today.

A day before, the U.S. President Donald Trump signed the Hong Kong Human Rights & Democracy Act into law and gave the US Government support to the protestors of Hong Kong. This law provides the United States the ability to place sanctions and diplomatic actions on Chinese officials who will violate human rights in Hong Kong. Today, most of the focus is likely to stay on the European fundamentals as the German Prelim Consumer Price Index (CPI) for November dropped to -0.8% from October’s 0.1%. At 13:00 GMT, the Spanish Flash Consumer Price Index (CPI) showed growth to 0.4% from the expected 0.2%. Let's take a look at trade setups that are worth trading today. The BTC/USD price is now beneath the 200-DMA ($9,403), and the graph shows price drawing closer to the price at $5,660. Traders will also see that through times of consolidation, Bitcoin value mounts along with the 200-week moving average, which is at $4,878 on the daily chart. Since sinking below the descending channel on Nov. 25, Bitcoin (BTC) has recovered $7,000, netted some strong resistance at $7,400, and now proceeded to it's way up to over $7,500 during the time of writing this review. Trader's viewpoint remains silenced as investors are uncertain whether Bitcoin's price has gained a bottom yet or not. So far, the technical setup is clearly signaling bullish bias on the lower timeframe. Support Resistance 7,043.76 7,864.26 6,537.51 8,178.51 5,717.01 8,999.01 Pivot Point 7,358.01 Recalling the previous forecast, the BTC/USD soared to test the 7700 resistance level. Still, the leading crypto pair is likely to find resistance here, which is being extended by the 50 periods EMA. Besides that, the BTC/USD has formed a double top pattern around 7700 and has closed bearish candles below it. Especially the bearish harami candle on the 4-hour chart is suggesting chances of a bearish reversal in the BTC/USD today. Bitcoin may find immediate support today at 7340, along with resistance at 7700. The pair EUR/USD closed at 1.10075 after placing a high of 1.10178 and a low of 1.09986. Overall the trend for EUR/USD remained Bullish that day. The EUR/USD pair exchange rate remained flat during the beginning session on Thursday because of mixed Eurozone data. The Annual German inflation slightly edged up in November but remained below the target of European Central Bank for the seventh consecutive month. The German Prelim Consumer Price Index (CPI) for the month of November dropped to -0.8% from October’s 0.1%. At 13:00 GMT, the Spanish Flash Consumer Price Index (CPI) showed growth to 0.4% from the expected 0.2%. At 14:00 GMT, the M3 Money Supply from eurozone came in as 5.6% against the expectations of 5.5%. Private Loans remained flat with expectations at 3.5%. On Thursday, the single currency – Euro remained under pressure due to mixed data. The latest data from the eurozone may suggest that the economy is still under agony, but the next phase of the economy is not yet certain because the Eurozone economy does not seem to be weakening any further. However, in the short term, the sharp upturn of the economy is not possible either. Meanwhile, the US Dollar remained quiet on Thursday as markets closed because of Thanksgiving Holiday. On the news front, the US president signed the legislation in favor of Hong Kong protesters and in against China, which created uncertainty related to US-China trade relations. Support Resistance 1.099 1.1012 1.098 1.1024 1.0958 1.1046 Pivot Point 1.1002 The EUR/USD consolidates in a narrow trading range of 1.1016 - 1.0992 due to limited trading volume during amid U.S. thanksgiving holiday. We can stick to the previous analysis. Thus the pair may find next support around 1.0990 level along with resistance at 1.1040. The violation of 1.0990 can lead the EUR/USD pair towards 1.0945. The GBP/USD pair closed at 1.29096 after placing a high of 1.29507 and a low of 1.28989. Overall the trend for GBP/USD remained slight Bearish that day. The Sterling has gone back and forth in Thursday’s trading session, showing a lack of momentum to break out finally. The Nationwide House Price Index (HPI) from the United Kingdom was published at 12:00 GMT in favor of the single currency – pound. The November HPI of Britain came in as 0.5% against the expectations of 0.1% and supported Sterling on Thursday. The latest poll from YouGov MRP released on Wednesday and predicted that UK Pm Boris Johnson would win 359 seats against 211 of Labour Party. However, the fact that every other poll has predicted a narrow lead for the Conservative Party, the positive impact of Pound faded from the market. The US Dollar remained flat due to Bank Holiday for Thanksgiving and caused a slight movement in GBP/USD pair on Thursday. Later this week, there will not be any macroeconomic release from the United States, and the UK economic docket will publish Consumer Credit and Net Lending to Individuals at the ending day of the week. Support Resistance 1.2857 1.2954 1.2794 1.2987 1.2698 1.3083 Pivot Point 1.2891 The GBP/USD has completed the 38.2% Fibonacci retracement around 1.2900, and now it's forming bullish trade setups. On the 4 hour chart, the Cable is also getting support by 50 periods EMA around 1.2900. The GBP/USD pair may bounce off above this level to target 1.2922 and 1.2945 today. All the best for today.

The forex market is exhibiting thin trading volume and volatility in the wake of Thanksgiving holiday in the U.S. During the U.S. holiday session, the market usually exhibits choppy trading, and that's precisely what we are anticipating from the market today. Overall, the U.S. dollar is trading with a bullish bias amid better than expected results from US economic data on Wednesday rose, the US Treasury bond yields to 1.78% and helped the US Dollar to remain stronger across the board. The US GDP showed the expansion of the economy at an annualized 2.1% during the third quarter, which surpassed the expectations of 1.9%. Since sinking below the descending channel on Nov. 25, Bitcoin (BTC) has recovered $7,000, netted some strong resistance at $7,400, and now proceeded to it's way up to over $7,500 during the time of writing this review. Trader's viewpoint remains silenced as investors are uncertain whether Bitcoin's price has gained a bottom yet or not. So far, the technical setup is clearly signaling bullish bias on the lower timeframe. The BTC/USD price is now beneath the 200-DMA ($9,403), and the graph shows price drawing closer to the price at $5,660. Traders will also see that through times of consolidation, Bitcoin value mounts along with the 200-week moving average, which is at $4,878 on the daily chart. Support Resistance 7,043.76 7,864.26 6,537.51 8,178.51 5,717.01 8,999.01 Pivot Point 7,358.01 The BTC/USD has finally violated the 7,400 resistance level. On the daily chart, it has formed a bullish engulfing pattern right above the 6,700 support level. This may help drive more buying until 7,700 and 8,050. The bullish bias remains strong for today, especially above the pivot point level of 7,358.   The EUR/USD pair closed at 1.09989 after placing a high of 1.10246 and a low of 1.09923. Overall the movement of pair EUR/USD remained Bearish that day. The EUR/USD moved below 1.100 level on Wednesday amid the Strong US macroeconomic data against its rival currency Euro. The better than expected results from US economic data on Wednesday rose, the US Treasury bond yields to 1.78% and helped the US Dollar to remain stronger across the board. The US GDP showed the expansion of the economy at an annualized 2.1% during the third quarter, which surpassed the expectations of 1.9%. Besides, the Durable Goods Orders from the United States also expanded to 0.6% for October and supported US dollars. The less than expected US jobless claims also showed growth in the economy for the previous week when came in as 213K against the expectations of 223K. From the Eurozone side, at 12:00 GMT, the German Import Prices came in favor of single currency-Euro as -0.1% against the expectations of -0.2%. The stronger than expected German macroeconomic data was not enough to roll out the effect of stronger US Dollar and hence gave no effect to EUR/USD air movement on Wednesday. Apart from macroeconomic figures, the trade optimism around the news also remains in headlines after the positive comment on the Phase-one deal. It gave strength to the US Dollar and helped inn further downward movement of EUR/USD on Wednesday. Support Resistance 1.099 1.1012 1.098 1.1024 1.0958 1.1046 Pivot Point 1.1002 The EUR/USD is trading in a bearish tone as stronger U.S. fundamentals have played well to drag the EUR/USD lower. Despite this, the EUR/USD hasn't violated any support or resistance level, and it continues to trade within the expected ranges. The pair may find next support around 1.0990 level along with resistance at 1.1040. The violation of 1.0990 can lead the EUR/USD pair towards 1.0945. Besides, the EUR/USD has formed a descending triangle pattern on the 4-hour chart, which is also supporting the pair at the exact pivot point level of 1.1000. Let's keep an eye on this level as bulls can jump into capture quick trades. The GBP/USD closed at 1.28639 after placing a high of 1.29034 and a low of 1.28348. The overall trend for the GBP/USD pair remained Bearish that day. At 14:30, the High Street Lending from the United Kingdom showed a drop to 41.2K from the expectations of 43.1K and weighed on Sterling on Tuesday and gave bearish trend to GBP/USD. On the other hand, the increased New Home Sales from the United States at 733K along with Goods Trade Balance at -66.5B and increased Housing Price Index at 0.6%, gave support to U.S. Dollar, which in turn added in the downward trend for GBP/USD pair. Adding in the Bearish trend for pair was the latest trade talks between Chinese Vice President Liu He and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone on Tuesday. After the talks, it was reported by Chinese media that both sides discussed resolving core issues and has reached consensus on how to solve related problems. They also have agreed to say in contact over issues remaining for the phase-one trade deal agreement. The boosted the chances for the completion of a phase-one deal shortly and added in raised trade optimism of the market. As per the latest survey of voting, after the release of Labour Party manifest last week, the opposition has started to hold its ground in upcoming elections against the Conservative Party. For Pound, the best results would be the voting in favor of the Conservative Party In general elections. But, the rising followers of opposition has raised concerns over it. The chief currency strategist at Royal Bank of Canada said that "the currency's drop highlights somewhat complacent pricing of political risk in the U.K. It is hard to reconcile this degree of confidence with current polling results." Support Resistance 1.2857 1.2954 1.2794 1.2987 1.2698 1.3083 Pivot Point 1.2891 The trend of GBP/USD seems to be in our favor as the Cable has formed a strong bullish candle on the daily chart, which is engulfing the previous three candles, suggesting strong bullish bias among traders. With this, the GBP/USD can extend buying until 1.2975 today. Due to lack of volatility on Thanksgiving, we may see less movement, or mixed movement today, but technically bullish bias prevails. On the lower side, 1.2900 is likely to extend support. All the best for today.

The market proceeds to trade the risk-on sentiment in the wake of optimistic news from the U.S. China trade war. The latest trade talks between Chinese Vice President Liu He and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone on Tuesday remained in headlines. After the talks, it was reported by Chinese media that both sides discussed resolving core issues and has reached consensus on how to solve related problems. They also have agreed to say in contact over issues remaining for the phase-one trade deal agreement.Today, the U.S. Prelim GDP remains in the highlights. Economic Calendar Recalling the previous forecast, the BTC/USD gained support above the 6500 levels, which let its prices towards 7230 resistance level and even higher to 7370 levels. Today, the BTC/USD is likely to find a hard time breaking above 7400 levels as it's extended by the 50 periods EMA and a bearish trendline on the hourly timeframe. Below this, the BTC/USD may find support around 7150 and 6770. During the last week, the BTC/USD closed the week at $6,900, having lost nearly $1,400 or 18.72%. Monday went off to a calamitous start for the buys, with a selloff in the Asian trading session, dropping further 5.5%, gaining lows of $6,500 where the bulls returned with a 13% swing back above $7,300. Support Resistance 6,776.81 7,691.46 6,329.26 8,158.56 5,414.61 9,073.21 Pivot Point 7,243.91 The BTC/USD hasn't changed much since yesterday in the wake of thin volatility. The BTC/USD is now gaining support above 7,000 level below which the BTC/USD can take a further bearish turn until 6700 and 6535. Conversely, the bullish breakout of 7200 can lead the BTC/USD towards the 7665 area. Overall, the bitcoin trades with a bearish sentiment today. The EUR/USD closed at 1.10194 after placing a high of 1.10255 and low of 1.10072. Overall the trend for the pair remained Bullish that day. At 12:00 GMT, the German Gfk Consumer Confidence came in as expected 9.7 in November but showed growth from October's 9.6. The Euro moved back and forth in the trading session on Tuesday and stuck to 1.10 level. The improved German Consumer Confidence gave the impression that the slowdown in the domestic economy could have been paused or decreased, which gave EUR/USD support and helped it to move in an upward direction on Tuesday. On the American front, the C.B. consumer Confidence from the United States was dropped to 125.5 from expected 126.9 and weighed on U.S. Dollar, which also supported the Bullish trend of EUR/USD. The latest trade talks between Chinese Vice President Liu He and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone on Tuesday remained in headlines. After the talks, it was reported by Chinese media that both sides discussed resolving core issues and has reached consensus on how to solve related problems. They also have agreed to say in contact over issues remaining for the phase-one trade deal agreement. Though the EUR/USD pair closed its market on Tuesday with Bullish Trend, the upward movement was very consolidated and pressurized. Support Resistance 1.1012 1.1031 1.1 1.1038 1.0981 1.1057 Pivot Point 1.1019 The EUR/USD is consolidating in a tight range due to a lack of market-moving economic indicators. The EUR/USD may stick with the same technical levels today. Thus it may find next support around 1.0990 level along with resistance at 1.1040. Overall, the EUR/USD is likely to continue trading in a bearish tone today. The GBP/USD closed at 1.28639 after placing a high of 1.29034 and a low of 1.28348. The overall trend for the GBP/USD pair remained Bearish that day. At 14:30, the High Street Lending from the United Kingdom showed a drop to 41.2K from the expectations of 43.1K and weighed on Sterling on Tuesday and gave bearish trend to GBP/USD. On the other hand, the increased New Home Sales from the United States at 733K along with Goods Trade Balance at -66.5B and increased Housing Price Index at 0.6%, gave support to U.S. Dollar, which in turn added in the downward trend for GBP/USD pair. Adding in the Bearish trend for pair was the latest trade talks between Chinese Vice President Liu He and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone on Tuesday. After the talks, it was reported by Chinese media that both sides discussed resolving core issues and has reached consensus on how to solve related problems. They also have agreed to say in contact over remaining issues for the phase-one trade deal agreement. This boosted the chances for the completion of a phase-one deal in the near future and added in raised trade optimism of the market. As per the latest survey of voting, after the release of Labour Party manifest last week, the opposition has started to hold its ground in upcoming elections against the Conservative Party. For Pound, the best results would be the voting in favor of the Conservative Party In general elections. But, the rising followers of opposition has raised concerns over it. The chief currency strategist at Royal Bank of Canada said that "the currency's drop highlights somewhat complacent pricing of political risk in the U.K. It is hard to reconcile this degree of confidence with current polling results." Support Resistance 1.2794 1.29 1.2756 1.2967 1.2651 1.3073 Pivot Point 1.2862 The GBP/USD is consolidating below its pivot point level of 1.2866 as the market hasn't traded much this week. The cable is now facing resistance below 50 periods EMA around 1.2880. Moreover, the bearish marabou candle on the 4-hour chart is suggesting chances of further selling in the GBP/USD pair. At the moment, the GBP/USD can proceed to trade with a bearish bias beneath 1.2866, with the subsequent resistance bear 1.2900 and 1.2970. Alternatively, the bearish trend is likely to target 1.2822 and 1.2790. All the best for today.

The favorable news on the U.S. China trade deal boosted market sentiment on Monday, pushing the U.S. dollar to a one-week high versus the safe-haven yen, British prime minister Boris Johnson on Sunday pledged that he would take Britain out of European Union by January 31 and presented his Conservative Party's general election manifesto. With Britain heading to the polls on December 12, the PM Johnson's Conservative Party rolled out election manifesto, which promised more public sector spending and no extensions to the extended departure of the U.K. from E.U. Today, the U.S. Consumer Confidence remains in the highlights.   The Bitcoin traders have had their hopes of a return to bitcoin's all-time-high in 2019, all but destroyed following the latest immediate selloff. The bitcoin price slipped to a six month low to trade at $6,515, and that's almost a 6% drop over the previous 24-hour trading period, wiping billions of dollars from the value of the world's biggest cryptocurrency. During the last week, the BTC/USD closed the week at $6,900, having lost nearly $1,400 or 18.72%. Monday went off to a calamitous start for the buys, with a selloff in the Asian trading session, dropping further 5.5%, gaining lows of $6,500 where the bulls returned with a 13% swing back above $7,300. Support Resistance 6,776.81 7,691.46 6,329.26 8,158.56 5,414.61 9,073.21 Pivot Point 7,243.91 Recalling the previous forecast, the BTC/USD gained support above the 6500 levels, which let its prices towards 7230 resistance level and even higher to 7370 levels. Today, the BTC/USD is likely to find a hard time breaking above 7400 levels as it's extended by the 50 periods EMA and a bearish trendline on the hourly timeframe. Below this, the BTC/USD may find support around 7150 and 6770. The EUR/USD closed at 1.10182 after placing a high of 1.10875 and a low of 1.10144. Overall the trend for EUR/USD remained Bearish that day. At 12:00 GMT, the German Final GDP for quarter remain flat at 0.1%. At 13:15 GMT, the French Flash Services PMI remained flat for November at 52.9 but came in less than expectations of 53.0. However, the French Flash Manufacturing PMI came in as 51.6, which was higher than the expectations of 50.9. At 13:30 GMT, the German Flash Manufacturing PMI also came in favor of Euro as 43.8 against the expectations of 42.9. But the German Flash Services PMI did not support Euro because it decreased to 51.3 in November against the expectations of 52.0 from the October's 51.6. The Manufacturing PMI for the whole Eurozone increased to 46.6 in November from October's 45.9 and the expectations of 46.4 and supported the single currency Euro on Friday. However, the Services PMI for zone decreased to 51.5 from the October's 52.2 and expectations of 52.4 and came in against Euro. Euro on Friday raised in the beginning session with the robust PMI data from France, but after the release of mixed data from Germany and the Eurozone, Euro traders got confused with setting the trend for EUR/USD. The weaker than expected and drop in the services sector from Eurozone was alarming. However, the Manufacturing sector's performance was satisfactory. Support Resistance 1.1067 1.1087 1.1056 1.1095 1.1036 1.1115 Pivot Point 1.1076 The EUR/USD is still trading sideways, following mostly the same technical levels as suggested before due to a lack of fundamentals. Even today, the market isn't expected to offer anything that can directly influence the Euro pairs. The pair may find next support around 1.0990 level along with resistance at 1.1040 The movement in the EUR/USD mostly depends upon the C.B. Consumer Confidence, which is due to come out during the European session today. The GBP/USD closed at 1.28981 after placing a high of 1.29117 and a low of 1.28404. Overall the movement of GBP/USD remained Bullish that day. At 16:00 GMT, the Confederation of British Industry (CBI) Realized Sales came in as -3 against the expectations of -10 and supported the single currency – Pound. On the news front, British prime minister Boris Johnson on Sunday pledged that he would take Britain out of European Union by January 31 and presented his Conservative Party's general election manifesto. With Britain heading to the polls on December 12, the PM Johnson's Conservative Party rolled out election manifesto, which promised more public sector spending and no extensions to the extended departure of the U.K. from E.U. Johnson's Party also pledged no new taxes, this decision contrasted with the opposition Labour Party's manifesto, which has promised to raise taxes on the rich and business to fund a significant expansion of the state. In response to the release of the Conservative Party's manifesto, Britain's former E.U. ambassador, Sir Ivan Rogers, said that Johnson was repeating Theresa May's Strategy errors and would soon find himself unwisely boxed in by his campaign promises. He further added that Johnson was sowing the seeds of the "Biggest crisis of Brexit to the data." He said that the pressure to get Brexit done would mean that if Johnson returned as Prime Minister, he would make a lot of concessions to secure his deal. Rogers accused the European Union of failing to think through the strategic consequences of its relationship with the U.K. He added that E.U. politicians have long insisted that the U.K. must make up its mind. That what kind of post-Brexit relationship it wants when E.U. should also have thought about collective preference about the relationship which Hugely matters to them. He concluded that it was the time for E.U. to think more clearly and strategically about the future relationship with the U.K. because they could grow a lot worse than this yet. The GBP/USD rose to 1.29117 on Monday after the release of Johnson's Conservative Party's manifesto on Sunday. Support Resistance 1.2794 1.29 1.2756 1.2967 1.2651 1.3073 Pivot Point 1.2862 The GBP/USD extends to trade above the pivot point level of 1.2860 level. The 50 periods EMA is now resisting the pair around 1.2890, and besides that, the three black crows candlestick on the 4-hour chart is suggesting chances of a further selling in the cable. The GBP/USD can continue to trade with a bearish bias below 1.2860, with the next resistance around 1.2900 and 1.2970. Conversely, the bearish breakout below 1.2850 can lead to GBP/USD towards 1.2790. All the best for today.