EURUSD Monthly Forecast Nov 2018


EURUSD: Around Critical Support!

As long as 1.1625 resistanceĀ holds on a monthly closing basis, the EURUSD remains on the downside to 1.1220 level. A halt is likely, it may turn up before attempts to break lower. Anyway; below 1.1220 will turn the focus on 1.0865 level, further down, support comes at 1.0465 level.

On the upside, resistance comes at 1.1500 level ahead of 1.1625 level, a break would open 1.1689 level (close of May 2018) main. Above that level will turn outlook neutral for testing 1.2083 level before another fall. Above 1.2083 will extend the corrective recovery to 1.2554 level.

Hint: EURUSD is likely to dip to 1.1200 before attempts to test 1.2000 levels.

Conclusion: The ERUSD continues to face downside threats below 1.1689 level in the long-term forecast.

Support: 1.1200, 1.0850, 1.0450, 1.0155

Resistance: 1.1500, 1.1689, 1.2083, 1.2554