EUR/USD Price Forecast – Euro Continues To Show Weakness

The Euro initially tried to rally during the trading session on Wednesday, but then turned around to reach towards the 1.10 level underneath. That is a level that of course offers a lot of interest for traders.
Christopher Lewis
EUR/USD daily chart, November 14, 2019

The Euro initially tried to rally during the trading session on Wednesday, but then saw a lot of selling pressure to turn right back around and reach towards the 1.10 level. That is a large, round, psychologically significant figure, and an area that is previous resistance. At this point, the market looks very likely to see a lot of noise, and at this point I suspect that the Euro is likely to continue going lower, but we have a lot of headlines out there that could throw the markets back and forth. At this point, the United States Congress is going through the nonsense trial, and then of course the fact that Jerome Powell is speaking won’t quiet the markets either. In other words, this is a perfect storm for a lot of noise.

Euro to Dollar Forecast Video 14.11.19

All things being equal though, I do like the idea of fading the Euro as it is very equal, and at this point it’s likely that the market will break down below the 1.10 level and go looking towards the 1.09 level underneath. If the market breaks down below there, then we could go as low as 1.0750 as it was a major gap in the marketplace. Ultimately, this is a market that continues to cause a lot of headaches but when you look at the last couple of years, it has been a “sell the rallies” type of situation time and time again. All things being equal, the markets should continue to cause major issues for those who are looking for easy moves, but short-term sellers have enjoyed this market for quite some time.

Please let us know what you think in the comments below

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US