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.
