EUR/USD Weekly Analysis – Sunday, November 19

EUR/USD broke above the falling trend line on the daily chart and is now facing 1.1879 resistance. A breakout of this level will confirm that the downside movement from 1.2092 had completed at 1.1554 already, then further rise towards 1.2092 previous high could be seen.

Above this level could signal resumption of the uptrend from 1.0340. Near term support is at 1.1690, followed by 1.1554. Below these levels could trigger another low towards the resistance-turned-support trend line on the weekly chart now at around 1.1400.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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