In long-term trends, we would be on the sidelines for this pair despite this rebound. We expect plenty of support around 1.15 handle, but also plenty of resistance near 1.20 area.
EUR/USD Daily Forecast – 23 November
Euro formed support around 1.1730 level in the course of the yesterday's session and was then pushed higher after weaker than expected US figures going all the way to 1.1820 area where it found some amount of resistance but managed to finish the session above 1.18 handle. As for tomorow, focus will be on PMI figures. Any type of supportive candles around 1.1750 and 1.1730 area would be short-term buying signal, while resistive candles above 1.1850 and 1.1880 level would be short-term selling opportunity.
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