EURUSD Daily Forecast Nov 11 2014

euro-dollar-594

The EURUSD continued its bearish momentum yesterday , printed resistance at the 1.2508 levels .This development leaves the pair targeting the 1.2357 levels , a halt is likely , but a cut would open 1.2215 next , further downside will aim the 1.2030 levels.

On the upside , resistance comes at the 1.2469 levels ahead of the 1.2508 levels (main) , a clear break above the 1.2508  levels will turn outlook neutral for retesting the 1.2576/1.2630 levels before the next fall.

In all , as long as resistance 1.2508 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2357 levels ahead of the 1.2215 levels. Above 1.2508 will bring limited gains towards  1.2576/1.2630 levels before the next fall.

 

EURUSD Daily Forecast Nov 11 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS