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NOVEMBER 2016 Forecasts of EUR/USD Market

NOVEMBER 2016 Forecasts of EUR/USD Market

In Germany, the IFO Expectations survey yesterday for 2014 was announced at the highest level since the month of April. In contrast, we can see that resistance level was not successful while rising toward to the 1.09 level. If the USD Index stays above the 98 level, it will be causing the pair to be under pressure. In the report of the IFO survey German exports are positively affected from China and the U.S. economy in the last period, it was stated that positive developments. Recently, many experts are waiting a positive trend in near future according to the data of EU zone at the last times.

Short Technical Overview of EUR / USD Market

As a monthly result of October , we can observe a strong negative trend on EUR/USD parity.   After rising 1.12 level at 7th October, the parity has experienced a strong decrease. At the end of the month, the parity was traded under the 1.09 level. If the 1.10 resistance level exceeds in near future, the parity may follow a positive direction for the first week of November.

Resistance : 1.0900 / 1.0950 / 1.1000
Support : 1.0840 / 1.0810 / 1.0795
Date: 26 October 2016 Wed 13:12

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