EUR/USD Forecast Nov. 30 - Dec. 4 – Euro Climbs To Three-Month High

EUR/USD Technical analysis

Technical lines from top to bottom:

  • We start with resistance at 1.2240.
  • 1.2136 is next.
  • 1.2046 is an important monthly line of resistance.
  • 1.1936 is the first level of support.
  • 1.1877 switched to support after strong gains by EUR/USD last week.
  • 1.1744 is next.
  • 1.1648 (mentioned last week) is the final support level for now.

I am bullish on EUR/USD

Despite weak economic conditions in the eurozone, the euro continues to make inroads against the US dollar. The momentum could continue this week, with the euro within striking distance of the symbolic 1.20 level.

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