EUR/USD Daily Forecast – 21 November

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Tuesday, Nov 21 2017

EUR/USD Daily Forecast – 21 November

Euro was initially pushed higher in the course of the yesterday's session but then found resistance above 1.18 handle and after news on fail of Merkel to form a coalition, fell all the way to 1.1730 level, where it found some amount of support but did not manage to break higher. We expect similar session tomorrow, as there will be no major data releases. Any type of supportive candles around 1.17 and 1.1680 area would be short-term buying signal, while resistive candles above 1.1780 and 1.18 level would be short-term selling opportunity.

In long-term trends, we would be on the sidelines for this pair especially after this decline. 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 – 21 November AUD/USD Daily Forecast – 22 November »

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