EURUSD Daily Forecast Nov 20 2015

Short term outlook in EURUSD has turned neutral with risk to the downside, resistance comes at the 1.0757 levels, a failure to hold above the 1.0757 levels on a daily closing basis could mean a return to the key support 1.0657 levels, a halt is likely and buyers may try longs around this level, however; sustained breakout-daily closing- below the 1.0657 levels will expose the 1.0615 levels and open the 1.0565 levels, further down, support comes at the 1.0470 levels.

On the upside, a failure to hold below the 1.0657 levels could mean a return to the 1.0757 levels, a halt is likely, but a break would open 1.0829 before the next fall, to reverse risks completely to upside, 1.0829 should be taken out, otherwise; any rises is an opportunity to short the pair near resistance levels…

Conclusion: The EURUSD continues to face downside threats below the 1.0829/1.0757 levels even in the case of a recovery………..

EURUSD Daily Forecast Nov 20 2015