EUR/USD Daily Forecast – 01 December

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Monday, Nov 30 2015

Euro was pushed lower in the course of the yesterday's session, testing 1.0560 area as a support. This level has been supportive for quite some time now, but it seems that there is plenty of bearish potential at the moment and that pair is heading towards 1.05 handle.

As for tomorrow, any type of supportive candles around 1.0520 level, in a case of further of decline, would offer short-term buying opportunity, while resistive candles around 1.06 handle would be short-term selling signal. On a long-term basis, though there is plenty of bearish potential at the moment, and we are quite sure that pair will test 1.05 handle as next major support, however, we would wait for ECB Meeting in order to see if pair can break even lower and head towards parity level given enough time.

Last modified on Monday, 30 November 2015

More in this category: « GBP/USD Daily Forecast – 01 December AUD/USD Daily Forecast – 02 December »

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