EUR/USD Price Forecast – Euro looking for bids

The Euro initially fell during Wednesday, but then turned around to show signs of support and made a run towards the 1.13 level. This is a market that I think continues to be very jittery, but it is most certainly negative overall. I think that selling rallies continues to work, with the 1.15 level above being a bit of a “ceiling” in the market. In general, I think that the currency pair will be influenced by the Federal Reserve more than anything else right now, at least over the next couple of days. But please don’t forget that there are a lot of economic headwinds in the European Union right now, so any headline could come into punish the Euro.

Euro to Dollar Forecast Video 29.11.18

Beyond that, we don’t really know how the Brexit’s going to affect the European Union but it can’t be good. With that being the case, it’s likely that Europe will continue to struggle. That doesn’t necessarily mean that we need to break down drastically, but I’m not expecting some type of massive rally that changes the overall trend is probably the take away. At this point, it looks as if the market could grind down to the 1.11 handle, an area that is massive in its implications on the longer-term charts. That being said, you probably need this market to rally a bit to start shorting again.