EURUSD Weekly Forecast Nov 16 2015

Medium term outlook in EURUSD remains on the downside as long as 1.0829 resistance holds on a weekly closing basis, support comes at the 1.0560/1.0460 levels, a halt is likely and a reversal may occur, however; a cut through the 1.0460 levels will pave the way towards the 1.0100 levels, further down support comes at the 0.9965 levels.

On the upside, minor resistance comes at the 1.0829 levels, sustained breakout- weekly closing- above the 1.0829 levels will open 1.1014 levels before the next fall, further upside, will extend recovery towards the 1.1385 levels.

Conclusion: The EURUSD continues to face downside threats in the medium term below the 1.0829 levels, above 1.10829 faces a recovery risk towards the 1.1014 levels and possibly higher towards the 1.1385 levels.


EURUSD Weekly Forecast Nov 16 2015