EUR/USD Midday Technical Analysis November 2

The Euro spent most of the early part of Friday but ran into a lot of resistance at the 1.1450 level, an area that has been supportive and resistive in the past. I think the market is probably going to go looking towards 1.14 level, and a break down below that level opens the door to the lows again. While this has been a decent rally over the last couple of days, looking at this chart we are most certainly still in a very negative trend and I don’t think that’s going to change anytime soon. Overall, I think that the US dollar will remain strong going forward, and I would not be convinced of a Euro rally for the longer-term until we can break above the 1.15 handle.

EURUSD analysis Video 02.11.18

Looking at this chart, I think that going into the weekend a lot of traders will be wanting to take risk off as well, and this means throwing money at the US treasury markets. With interest rates going higher, it makes sense that the US dollar strengthens, and quite frankly there are far too many issues in the European Union right now for people to be comfortable throwing large amounts of money there. With the Brexit still being an issue, I think the Euro will continue to be a bit heavy.