EUR/USD, Monday forecast, November 25
Today, there is no important news for the market, so trading is going to be purely technical.
Forecast and technical analysis
Downtrend
The downtrend may be expected to continue, while the EUR/USD pair is trading below resistance level 1.1031, which will be followed by reaching support level 1.0987.
Uptrend
An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1031, which will be followed by moving up to resistance level 1.1051 and 1.1072.
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Weekly forecast: November 25 - 29
Downtrend
The downtrend may be expected to continue in case the market drops below support level 1.1015, which will be followed by reaching support level 1.0987 and if it keeps on moving down below that level, we may expect the EUR/USD pair to reach support level 1.0940.
Uptrend
An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1096, which will be followed by moving up to resistance level 1.1169.
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Monthly forecast, November - December
Downtrend
The downtrend may be expected to continue, while the EUR/USD pair is trading below resistance level 1.1200, which will be followed by reaching support level 1.1072 and if it keeps on moving down below that level, we may expect the EUR/USD pair to reach support level 1.0940.
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 1.1200, which will be followed by reaching resistance level 1.1370.
(Click on image to enlarge)
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