EURUSD Forecast November 12-16

EURUSD Forecast: The Congress was divided as a result of the US mid-term elections. The US dollar lost a bit of land on the Democrats’ victory, but it has been cured quickly enough. The Fed left unchanged rates and in December left the door wide open to increase rates.

Meetings of the Eurozone group There was some optimism about the conflict between the Italian and European Commission regarding the Italian budget. However, the issue is far from resolved. A break site deal seems closer and it provides a little support to the common currency.

 EURUSD - Technical Lines

EUR/USD Technical Analysis

EURUSD started the week on the back foot but got support at 1.1365 (mentioned last week). It was then moved high

Technical Lines from Top to Bottom:

1. 1.1815 was the high point in September. 1.1750 did not keep the pair less than four times in July and remained a powerful level.

2. 1.1720 is an experienced line that works in both directions and it captures the pair in mid-September. At the end of August 1.1650, the swing was low and after 1.1615 very closely followed, which played an important role.

3. 1.1500 is a very round level and at the beginning of November pair of advance has also been installed. 1.1430 different categories during October.

4. 1.1365 temporarily reduced the fall in Euro / US Dollar 1.1300 is a round number that holds the couple in the middle of August and late October. Double-Floor) and June 2017 laid down the pair too.

5. Bottom, we’re back at the last seen level in 2017. 1.1220 and 1.1100 are notable.

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