EURUSD Daily Forecast Nov 09 2018


EURUSD: Faces Pullback Threats!

As long as 1.1390/1.1423 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down could be seen. Support comes at 1.1350 level. below that level aims 1.1310, further down, support comes at 1.1260 ahead of 1.1230 level.

On the upside, above 1.1423 will look for 1.1500 level, a break aims the 1.1550 levels.

Conclusion: The EURUSD sees pullback threats below 1.1423 level.

Support: 1.1350, 1.1310, 1.1260, 1.1200

Resistance: 1.1390, 1.1423, 1.1500, 1.1550

Note: a failure to hold below 1.1350 on a daily closing basis could mean a return to 1.1423 level. Anyway; below 1.1350 aims 1.1310, it may test 1.1350 before attempts to move lower…

blankKey data/events which may affect EURUSD today:

The U.S will report on producer price inflation at 13:30 GMT. The forecast is to rise 0.3%, from 0.2% in the preceding month. Above forecast will support USD.