EURUSD Daily Forecast Nov 29 2018

EURO - dollar - 65985-

EURUSD: Bearish Despite Recovery Attempts…

As long as 1.1387 resistance holds on a daily closing basis, the EURUSD remains neutral with risk to the downside. A failure to hold above 1.1387 level on a daily closing basis could mean a return to 1.1285 level. A cut would open 1.1225 level, further down, support comes at 1.1155 level.

Note: The pair may spike to 1.1423 before ending the day below 1.1387 level.

On the upside, above 1.1387 sees a recovery threat to 1.1470 level, further upside, resistance comes at 1.1150 level.

Conclusion: The EURUSD sees consolidation with downside risk below 1.1387 level.

Support: 1.1285, 1.1225, 1.1155, 1.108

Resistance: 1.1387, 1.1420, 1.1473, 1.1550

Key data/events which may affect EURUSD today:

The Fed will publish the minutes of its November meeting at 19:00 GMT

EURUSD Daily Forecast Nov 29 2018