EURUSD Daily Forecast Nov 18 2014

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Outlook in EURUSD remains neutral at the moment وwith the key support 1.2393 intact , further upside couldn’t be ruled out , but upside gains should be limited by 1.2638 levels where fall resumption is strongly suggested .However ; a clear break above the 1.2638 levels on a daily closing basis will extend recovery towards the 1.2770/1.2886 levels , further upside will aim the 1.2994 levels.

On the downside , support comes at the 1.2393 levels , losing this level on a daily closing basis is needed to restore the downside momentum , If seen , focus will be on the 1.2300 levels , further losses will pave the way towards the 1.2200 levels , a cut will aim the 1.2041 levels.

In all the EURUSD is likely to consolidate within 1.2393/1.2638 range , below 1.2393 will resume the bearish trend towards the 1.2300/1.2200 levels while above the 1.2638 levels will extend recovery towards the 1.2770/1.2886 levels.

 

EURUSD Daily Forecast Nov 18 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS