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EUR/USD Daily Forecast – 30 November

Friday, Nov 27 2015

Euro was pushed lower in the course of the session on Friday, but once again found support around recent lows at 1.0570 level, and by the end of the day managed to rebound slightly in order to finish the session around 1.06 handle. On Monday, we expect that traders will still be cautious ahead of very volatile week.

Pair is likely to find support around 1.0560 area, so this would be our short-term buying point and resistance above 1.0640 level which was resistive in the past two sessions. In long-term trends we have no interest in buying this market, as it is quite clear that it will at least test 1.05 handle as a support. With that being the case we would use rallies as selling opportunities, and as long as we are below 1.08 handle would not get involved in any larger buying bids.

More in this category: « GBP/USD Daily Forecast – 30 November AUD/USD Daily Forecast – 01 December »

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