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Daily EUR USD Technical Analysis 22nd November, 2016

EUR USD Technical Analysis

EUR USD Technical Analysis 22nd November, 2016

Technical Analysis Overview:

Prev. Close 1.0630
Open 1.0637
Day’s Range 1.0625 – 1.0650
52 wk Range 1.0538 – 1.1616
1-Year Return – 0.08%

Technical Support and Resistance:

In terms of Technical analysis the EUR/USD pair will find its immediate support at 1.0586. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0543 and 1.0510. On the other side the market has immediate resistance 1.0637. If, market breaks the primary resistance level then, market will go for the new resistance level 1.0644 and 1.0651.

Expected trading range for today is between 1.0625 supports and 1.0650 resistances.

there is no hot news to be released from the Euro or the US regions and so we might expect some more consolidation in this pair between 1.0600 and 1.0700.

Along with technical analysis following economic event is very important to analyze the financial market properly.

Upcoming Important Economic News in EUROPE: (GMT +3)

1. Consumer Confidence at 6.00 pm