EUR/USD Daily Forecast – 24 November

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Monday, Nov 23 2015

Euro was pushed lower in the course of the yesterday's session testing area around 1.06 handle as a major support. Pair in the end found this area to be supportive, but , it seems that it is only matter of time when pair will break lower. As for tomorrow, we would pay attention to US GDP figures

. Any type of resistive candles around 1.0650 level would offer short-term selling opportunity, while supportive candles around 1.0550 area would be short-term buying signal. In long-term trends, we are only interested in selling this pair, with initial target set at 1.05 handle. Buying is not an option, as long as we are below uptrend line, and it seems that we would not break above it any time soon.

More in this category: « GBP/USD Daily Forecast – 24 November AUD/USD Daily Forecast – 25 November »

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