EURUSD: The euro continues to slide

On Wednesday the 13th of November, the EURUSD pair finished down - all attempts made by bulls to develop a corrective movement failed. At the end of trading, the euro had fallen to 1.0995, amid a general strengthening of the US dollar.

The US dollar was stable on Wednesday after the Consumer Price Index results for October were unexpectedly higher than forecasted, with Fed Chairman Jerome Powell going on to speak positively about the state of the US economy.

Day’s news (GMT +3):

10:00 Germany: Gross Domestic Product (QoQ) (Q3).

10:30 Switzerland: Producer and Import Prices (MoM) (Oct).

10:45 France: Consumer Price Index (EU norm) (MoM) (Oct).

12:30 UK: Retail Sales (MoM) (Oct).

13:00 Eurozone: Gross Domestic Product s.a. (QoQ) (Q3).

16:30 Canada: New Housing Price Index (MoM) (Sep).

16:30 USA: Initial Jobless Claims (Nov 8).

18:30 USA: EIA Natural Gas Storage Change (Nov 8).

141119 H1

Current situation:

Yesterday's expectations came true. The EURUSD pair fell to 1.0995. At the time of writing, the euro is valued at 1.1005. Technically, the pair has long been ready for an upwards correction, with bulls kept in check by the background goings-on across the Eurozone and the United States.


Two supports can be identified below 1.10 - 1.0986 and 1.0964. We predict further decline to 1.0964, from where a price rebound is certainly possible. The forecast for further decline will expire when the daily candlestick closes above 1.1020.

Latest reviews

Everyone has the chance to make a profit

You don't need to trade on your own to make a profit. Make a profit by entrusting your funds to experienced traders!

Register

There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.