EURUSD Daily Forecast Nov 21 2018

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EURUSD: Faces Pullback Threats…

The outlook in EURUSD has turned neutral with risk to the downside, resistance comes at 1.1412 ahead of 1.1452 levels. Stability below resistance levels keeps the pair exposed to the downside, support comes at 1.1358 level where a cut will open 1.1290, below that level aims 1.1200 level, further down, support comes at 1.1130 level.

Hint: A failure to hold below 1.1358 on a daily closing basis could mean a return to 1.1452, but stability below 1.1412/1.1452 will keep the pair exposed to the downside.

On the upside, resistance comes at 1.1412 ahead of 1.1452 level. Above 1.1452 will restore the upside momentum and open 1.1533 level, further upside, resistance comes at 1.1620 level.

Conclusion: The EURUSD sees pullback threats below 1.1412/1.1452 levels.

Support: 1.1358, 1.1290, 1.1200, 1.1130

Resistance: 1.1412, 1.1452, 1.1533, 1.1620

blankKey data/events which may affect EURUSD today:

  • The U.S will report on Durable Goods Orders at 13:30 GMT. The indicator is expected to fall -2.2%, from 0.7% a month earlier. Core Durable Goods Orders is expected to rise by 0.4%, from 0.1% in the last month. Above forecast will keep the pair under pressure.

MARKET DATA

UPCOMING ECONOMIC EVENTS