EURUSD Daily Forecast Nov 16 2018

EURO - dollar - 65985-

EURUSD: Sees Limited Gains!

As long as 1.1265/1.1315 support holds on a daily closing basis, the EURUSDremains in a recovery mode and further upside couldn’t be ruled out. But the upside above 1.1265 should be limited by 1.1368 level where fall resumption is likely. Anyway; above 1.1368 will extend the corrective recovery to 1.1455 levels, above that level aims 1.1549 level.

On the downside, a failure to break and hold above 1.1368 level could mean a return to 1.1315/1.1265 level. A cut below support will restore the downside momentum and open 1.1200 level, further down, support comes at 1.1130 level.

Conclusion: The EURUSD sees recovery threats above 1.1265 level with caution…

Support: 1.1315, 1.1265, 1.1200, 1.1130

Resistance: 1.1368, 1.1455, 1.1549, 1.1605