EURUSD is an interesting pair to watch this week. This pair made a recent high at 1.1880 on 12 Oct 2017 and retraced to 1.1550 on 7 Nov 2017.
Investors like you may be wondering this pair's movement in the following week. From a technical outlook, it had made a series of lower lows and higher lows since the pair tested 1.2100 level on 8 Sep 2017. Therefore, it seems that this pair has a near-term downward directional bias.
Based on our forecast, if the bearish momentum continues, we could potentially see this pair reach the recent high of 1.1350. On the other hand, if there is a sudden change of the directional bias on this pair, we could potentially see this pair move back to 1.1750 as our first target level, and if this level of resistance is violated, EUR/USD could potentially be testing 1.1820.
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
#EURUSD #FORECAST
Investors like you may be wondering this pair's movement in the following week. From a technical outlook, it had made a series of lower lows and higher lows since the pair tested 1.2100 level on 8 Sep 2017. Therefore, it seems that this pair has a near-term downward directional bias.
Based on our forecast, if the bearish momentum continues, we could potentially see this pair reach the recent high of 1.1350. On the other hand, if there is a sudden change of the directional bias on this pair, we could potentially see this pair move back to 1.1750 as our first target level, and if this level of resistance is violated, EUR/USD could potentially be testing 1.1820.
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
#EURUSD #FORECAST