EUR/USD Daily Forecast – 01 November

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Tuesday, Oct 31 2017

EUR/USD Daily Forecast – 01 November

Euro was initially pushed lower in the course of the yesterday's session but found support around 1.1620 area and despite weaker than expected Eurozone CPI figures pair managed to rebound by the end of the session and finish it in a neutral tone around 1.1650 area. As for tomorrow, focus will be on FOMC interest rate decision. Any type of supportive candles around 1.16 and 1.1570 area would be short-term buying signal, while resistive candles above 1.1680 and 1.17 level would be short-term selling opportunity.

In long-term trends, we have no interest in buying the pair after recent decline. However, we expect plenty of support around 1.15 handle.

Last modified on Tuesday, 31 October 2017

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

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