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EUR/USD finds support at low grounds after the huge collapse yesterday to a two-month low. Today’s busy day will  provide  lots of action for the Euro. Here’s a quick update on technicals, fundamentals and community trends.
eur to usd forecast november 24

Euro/Dollar around 1.34

EUR/USD Technicals

  • Asian session:  EUR/USD stabilized between 1.3360 to 1.3420.
  • Current Range between 1.3360 to 1.3440.
  • Further levels in both directions: Below 1.3360, 1.3334, 1.3267, 1.3114, 1.2920, 1.2722, 1.2587.  Above   1.3430, 1.3640, 1.37, 1.3830,  1.3950, 1.4030, 1.4030, 1.4160, and 1.4217.
  • 1.3334 important line, after being a peak back in August.
  • 1.3830 significant higher point – far away now.

EUR/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 9:00 German Ifo Business Climate. Exp. 107.6 points.
  • 10:00 European Industrial New Orders. Exp. -2.6%.
  • 13:30 US  Unemployment Claims. Exp. 434K.
  • 13:30 US  Durable Goods Orders. Exp. +0.2%. Core figure exp. +0.7%.
  • 13:30 US  Personal Spending. Exp. +0.5%.
  • 13:30 US  Core PCE Price Index. Exp. +0.1%.
  • 13:30 US  Personal Spending. Exp. +0.4%.
  • 14:00 Belgian  NBB Business Climate. Exp. -2.7 points.
  • 14:55 US  Revised Consumer Sentiment. Exp. 69.5 points.
  • 15:00 US  New Home Sales. Exp. 311K
  • 18:00 ECB member Axel Weber talks.

EUR/USD Sentiment

  • The Irish government seems to have lost support to pass the plan – putting a big doubt over the feasibility of the bailout plan.
  • Spanish bond auction showed signs of contagion – yields are significantly higher.
  • It’s also important to note headlines from Portugal, which is already marked as the next domino.
  • North Korea fired shells at the south yesterday. This also weighs on the Euro – risk aversion.
  • Busy US calendar provides high volatility. A drop of jobless claims under 430K will be  significant.
  • Currensee Community: 53% are long , 47% are short- yesterday we had more shorts. These are 1211 open positions in real accounts trading this pair at the moment.

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free..


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