The EurUsd is still falling, however, the bearish movement is losing its momentum, as the parity was gaining support around the 1.05933 support level. Breaking out 1.05685 will send the EurUsd south, where it will seek lower lows around 1.051050, with 1.05352 as a primary objective.
The Main Trend remains bearish ahead of the ECB's meeting on the 3rd of December, where a cut in interest rates and an expansion of the bond purchasing program are anticipated.
On a daily scale, a breakout of 1.06379, would send the EurUsd back towards 1.06948, with 1.06692 as a primary objective, although the ECB's meeting will result in another cycle of a weaker Euro
The daily Pivot Point is around 1.05986. The daily support levels are around 1.05592 and 1.05292. The daily resistance levels are around 1.06286 and 1.06680.
The Main Trend remains bearish ahead of the ECB's meeting on the 3rd of December, where a cut in interest rates and an expansion of the bond purchasing program are anticipated.
On a daily scale, a breakout of 1.06379, would send the EurUsd back towards 1.06948, with 1.06692 as a primary objective, although the ECB's meeting will result in another cycle of a weaker Euro
The daily Pivot Point is around 1.05986. The daily support levels are around 1.05592 and 1.05292. The daily resistance levels are around 1.06286 and 1.06680.
