EUR/USD Daily Forecast – 26 November

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Wednesday, Nov 25 2015

Euro was pushed lower in the course of the yesterday's session, going all the way to below 1.06 handle, but found area around 1.0570 level to be supportive enough in order to rebound and broke once again above 1.06 handle.

With holiday in USA tomorrow, we expect a bit steadier session in which pair is likely to find support around 1.0560 level and resistance above 1.0670 area so these would be our short-term buying and selling points. On a long-term basis we have no interest in buying this pair as we believe it is only matter of time when pair will test 1.05 handle as a major support based on a long-term charts. Buying is not an option as long as we are below uptrend line.

More in this category: « GBP/USD Daily Forecast – 26 November AUD/USD Daily Forecast – 27 November »

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