In long-term trends, we would be on the sidelines for this pair especially after recent decline. We expect plenty of support around 1.15 handle, but also plenty of resistance near 1.20 area.
EUR/USD Daily Forecast – 22 November
Euro went back and forth in the course of the yesterday's session finding support around 1.1710 area and resistance above 1.1750 level, essentially doing nothing with a daily closing around 1.1730 area. Tomorrow, we would be more focused on US Durable Goods and Unemployment Claims figures. 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.
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