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EUR/USD: Outlook More Negative

Published 11/26/2013, 04:20 AM
Updated 07/09/2023, 06:31 AM

<span class=EUR/USD Technicals" title="EUR/USD Technicals" height="315" width="906">
EUR/USD fell just short of our selling opportunity at 1.3565/70 and topped at 1.3560. If we revisit 1.3560/70 today we can exit longs and try shorts with stops above 1.3595 for the next selling opportunity at 1.3625/30.

Today's outlook is more negative with immediate support at 1.3530/20 but below here signals further weakness to 1.3495/90. A good chance of a low for the day here but longs need stops below 1.3475 for the next buying opportunity at 1.3460.

Weekly outlook: More chance of a move to the downside this week and perhaps a test of last week's low at 1.3399. Only above 1.3595 is positive this week and can target October highs at 1.3832.

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