EUR/USD Daily Forecast – 16 November

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Wednesday, Nov 15 2017

EUR/USD Daily Forecast – 16 November

Euro was initially pushed higher in the course of the yesterday's session but found resistance above 1.1860 area and then pulled back in the US part of the session to a daily closing around 1.18 handle. As for tomorrow, we would pay attention to Eurozone CPI figures. Any type of supportive candles around 1.1750 and 1.1720 area would be short-term buying signal, while resistive candles above 1.18 and 1.1865 level would be short-term selling opportunity.

In long-term trends, we would be on the sidelines for this pair despite recent rebound. We expect plenty of support around 1.15 handle, but also plenty of resistance near 1.20 area.

More in this category: « GBP/USD Daily Forecast – 16 November AUD/USD Daily Forecast – 17 November »

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