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EURUSD Daily Forecast: November 25

Thursday, November 24, 2016 19:49
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EURUSD Forecast    
The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias. The bias remains bearish in nearest term but from a longer term perspective, 1.0550 – 1.0450 region remains a key support and good place to buy with a tight stop loss below 1.0450. Immediate resistance is seen around 1.0585 (yesterday’s high). A clear break above that area could lead price to neutral zone in nearest term testing 1.0640 region. On the downside, a clear break and daily/weekly close below 1.0450 would activate my bearish mode.

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  • Right now, it’s better to be a spectator then a trader due to the market situation. We must not try to do trade if we are not sure, as that will only cause issues that are hard to cope with. I always trade when I am certain and it’s easier through OctaFX broker using their Islamic Account where no worries are there for me about paying overnight charges, so that’s why I feel so good and can focus entirely on long term trades.

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