EURUSD Monthly Forecast Nov 2015

“Declines On Price Failure, Eyes Key Support 1.0730!”

With a sharp sell-off around 1.1280 (Jan 2015 close) occurring in the past month, the pair faces a fall risk towards the 1.0730 levels (March 2015 close). A halt is very likely and buyers may return and dominate the market from that point, however; a cut through the 1.0730 levels on a monthly closing basis will expose the 1.0461 levels and pave the way towards the psycho level 1.000, further down support comes at the 0.9417 levels.

Alternatively, a failure to hold below the 1.0730 levels on a monthly closing basis could mean a return to the 1.1280 levels, a halt is likely but a break would open 1.2096 next, further upside, resistance comes at the 1.2570 levels.

Conclusion: The EURUSD continues to face downside threats below 1.1280 in the long term forecast, above 1.1280 faces a recovery risk towards the 1.2096 levels.

Note: Watch out of volatility around 1.0730 levels and 1.1280 levels…

EURUSD Monthly Forecast Nov 2015

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