{"id":14679,"date":"2024-11-18T13:48:12","date_gmt":"2024-11-18T13:48:12","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14679"},"modified":"2025-02-16T10:55:25","modified_gmt":"2025-02-16T10:55:25","slug":"forex-market-analysis-18-november-2024","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-18-november-2024\/","title":{"rendered":"Forex market analysis: 18 November 2024"},"content":{"rendered":"\n<p>Monday trading may start cautiously, with investors focusing on retail earnings, housing market signals, and global economic updates.<\/p>\n\n\n\n<p>Energy and interest-sensitive sectors may experience early-week volatility as traders await critical midweek data and Federal Reserve signals. Expect a steady buildup in market activity as the week progresses.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>KEY INDICATORS<\/strong><\/h1>\n\n\n\n<p><strong>European market open<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>European markets will likely react to upcoming Eurozone economic reports and any developments over the weekend.<\/li>\n\n\n\n<li>Investors may position themselves ahead of key manufacturing and consumer data later in the week.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Oil prices and energy markets<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Volatility in oil prices remains a theme as geopolitical factors and OPEC production signals continue to influence energy markets.<\/li>\n\n\n\n<li>Crude price movements on Monday could impact inflation-sensitive sectors and broader market sentiment.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>US housing market in spotlight<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Investors will prepare for housing market data scheduled later in the week, such as housing starts and existing home sales.<\/li>\n\n\n\n<li>Sentiment on Monday may reflect early positioning in sectors like real estate and home construction, given the continued impact of elevated interest rates.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"654\" height=\"450\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113.jpg\" alt=\"\" class=\"wp-image-14680\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113.jpg 654w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113-300x206.jpg 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113-436x300.jpg 436w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113-400x275.jpg 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113-350x241.jpg 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/20241118-144113-200x138.jpg 200w\" sizes=\"auto, (max-width: 654px) 100vw, 654px\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>MARKET MOVERS<\/strong><\/h1>\n\n\n\n<p><strong>EUR\/GBP<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-1024x584.png\" alt=\"\" class=\"wp-image-14681\" srcset=\"https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-1024x584.png 1024w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-300x171.png 300w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-768x438.png 768w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-500x285.png 500w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-400x228.png 400w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-350x200.png 350w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1-200x114.png 200w, https:\/\/www.vtmarkets.com\/tr-mena\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_1.png 1038w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Possible long preference<\/strong><br>The upside prevails as long as 0.83416 is support.<br><strong>Alternative scenario<\/strong><br>Below 0.83416, expect 0.83350 and 0.83150.<br><strong>The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case).<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Pound to euro rate week ahead forecast: Inflation, PMIs to dominate<\/strong><\/p>\n\n\n\n<p>Pound Sterling could lose further value against the euro in the coming week if UK inflation and PMI data undershoot expectations.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The pound to euro exchange rate (GBP\/EUR) fell 0.65% last week despite initially rallying to its highest level in two years at 1.21 on Monday.<\/li>\n\n\n\n<li>Near-term, GBP\/EUR is in the process of consolidating its recent gains, which means strength will be capped at the 1.21 2024 highs.<\/li>\n\n\n\n<li>UK inflation is expected to have risen to 2.2% year-on-year in October from 1.7% in September, indicating an acceleration in inflation.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>EUR\/JPY<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_2.png\" alt=\"\" class=\"wp-image-14682\" \/><figcaption class=\"wp-element-caption\"><strong>Possible long indication<\/strong><br>The upside prevails as long as 163.019 is support.<br><strong>Alternative scenario<\/strong><br>Below 163.019, expect 162.728 and 162.353.<br><strong>The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive.<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>GBP\/CHF<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/tr\/wp-content\/uploads\/sites\/9\/2024\/11\/dma_20241118_3.png\" alt=\"\" class=\"wp-image-14683\" \/><figcaption class=\"wp-element-caption\"><strong>Possible short preference<\/strong><br>The downside prevails as long as 1.12164 is resistance.<br><strong>Alternative scenario<\/strong><br>The upside breakout of 1.12164, would call for 1.12316 and 1.12485.<br><strong>The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case).<\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>TODAY\u2019S NEWS HEADLINES<\/strong><\/h1>\n\n\n\n<p><strong>Dollar sitting pretty, yen bears wary of Bank of Japan hawks<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The dollar was looking to extend its bull run on Monday as lofty Treasury yields and a more restrained outlook for US rate cuts burnished its attractiveness, though the risk of intervention had caused a pullback against the yen.<\/li>\n\n\n\n<li>Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on 19 December.<\/li>\n\n\n\n<li>Japanese Finance Minister Katsunobu Kato on Friday put the market on warning of possible intervention if the yen fell too far and fast, sending the dollar down 1.3% to 154.30 yen.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Oil prices tick higher as Russia-Ukraine tensions escalate<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China and forecasts of a global oil surplus weighed on markets.<\/li>\n\n\n\n<li>Brent crude futures were up 55 cents, or 0.8%, to USD 71.59 a barrel at 9:54 AM GMT.<\/li>\n\n\n\n<li>US West Texas Intermediate crude futures were at USD 67.45 a barrel, up 43 cents, or 0.6%.<\/li>\n\n\n\n<li>Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to the country\u2019s power system.<\/li>\n\n\n\n<li>China\u2019s refinery throughput fell 4.6% in October from last year and the country\u2019s factory output growth slowed last month, government data showed on Friday.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Gold gains 1% as dollar rally stalls<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold prices rose on Monday after last week\u2019s sharp declines, as a rally in the dollar paused, while market participants awaited comments from Federal Reserve officials this week for more clues on the US interest rate path.<\/li>\n\n\n\n<li>Spot gold firmed 1% to USD 2,587.49 per ounce by 1:50 AM GMT, after falling to its worst week in more than three years on Friday.<\/li>\n\n\n\n<li>US gold futures inched 0.9% higher to USD 2,592.00.<\/li>\n\n\n\n<li>Spot silver rose 1.1% to USD 30.53 per ounce.<\/li>\n\n\n\n<li>Platinum was up 1.1% at USD 948.95<\/li>\n\n\n\n<li>Palladium climbed 1.2% to USD 962.44.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noopener\" title=\"here\">here<\/a> to open account and start trading.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Monday trading may start cautiously, with investors focusing on retail earnings, housing market signals, and global economic updates. Energy and interest-sensitive sectors may experience early-week volatility as traders await critical midweek data and Federal Reserve signals. Expect a steady buildup in market activity as the week progresses. KEY INDICATORS European market open Oil prices and <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/analysis\/forex-market-analysis-18-november-2024\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14679","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=14679"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/14679\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=14679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=14679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=14679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}