As we have already told you EUR/USD went down and tested the lowest low at the level of 1,09939 (61,8% Fibo correction). Right now we are dealing with the correction. EUR is rising against the USD, but we think that the potential of this growth is quite restricted.
Technical analysis (1D TF)
The currency broke 9-EMA up
MACD lines intersected each other
Williams %R left its oversold zone and now is returning back to its upper line
Linear regression line is still heading down, confirming the downtrend
Fundamental analysis
Next week several important indicators are being published
On Tuesday November 26-th - don't miss New home sales indicator for October. The forecast is +707K. We expect that the fact may be the same or even lower than the forecast (MBA Mortgage applications in October rose modestly by 0,6%)
On Wednesday November 27-th the US GDP is being published. The forecast is +1.9%.We expect GDP at this forecasted level (retail sales slightly increased in Q3; trade balance improved; Wholesales inventories increased too)
Summary: we suggest you to trade following the trend and depending on the further situation. If EUR/USD breaks 1,11000 - we might expect that Euro will rise to 1,11800. Otherwise - it is possible that EUR/USD will return to 1,10293.
Technical analysis (1D TF)
The currency broke 9-EMA up
MACD lines intersected each other
Williams %R left its oversold zone and now is returning back to its upper line
Linear regression line is still heading down, confirming the downtrend
Fundamental analysis
Next week several important indicators are being published
On Tuesday November 26-th - don't miss New home sales indicator for October. The forecast is +707K. We expect that the fact may be the same or even lower than the forecast (MBA Mortgage applications in October rose modestly by 0,6%)
On Wednesday November 27-th the US GDP is being published. The forecast is +1.9%.We expect GDP at this forecasted level (retail sales slightly increased in Q3; trade balance improved; Wholesales inventories increased too)
Summary: we suggest you to trade following the trend and depending on the further situation. If EUR/USD breaks 1,11000 - we might expect that Euro will rise to 1,11800. Otherwise - it is possible that EUR/USD will return to 1,10293.