EURUSD Daily Forecast Dec 05 2018


EURUSD: Consolidates Below 1.1393 With Downside Bias…

The EURUSD remains neutral with risk to the downside as long as trades below 1.1393 level on a daily closing basis. Support comes at 1.1285 level. A daily closing below that level will restore the downside momentum, and aim 1.1215 level. A halt is likely, it may test 1.1285 before attempts breaking below 1.1215. Anyway; below 1.1215 will open 1.1155, further down, support comes at 1.1080 level.

On the upside, resistance comes at 1.1393 (low Nov 19, 2018). A daily closing above that level will open 1.1455, further upside, resistance comes at 1.1537 level.

Conclusion: The EURUSD continues to consolidate below 1.1393 level with risk to break lower…

Support:1.1285 (main), 1.1215, 1.1155, 1.1080

Resistance: 1.1393, 1.1455, 1.1537, 1.1617

EURUSD Daily Forecast Dec 05 2018