EUR/USD Daily Forecast – 07 November

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Monday, Nov 06 2017

EUR/USD Daily Forecast – 07 November

Euro was initially pushed lower in the course of the yesterday's session going all the way to 1.1580 area where it found some amount of support and managed to completely rebound by the end of the session finishing it in a neutral tone above 1.16 handle. As for tomorrow, with no major data releases we expect another steadier session. Any type of supportive candles around 1.1580 and 1.1550 area would be short-term buying signal, while resistive candles above 1.1630 and 1.1660 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.

More in this category: « GBP/USD Daily Forecast – 07 November AUD/USD Daily Forecast – 08 November »

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