Daily EUR USD Technical Analysis 28th November, 2016

EUR USD Technical Analysis

EUR USD Technical Analysis 28th November, 2016

EUR USD Technical Analysis Overview

Prev. Close 1.0587
Open 1.0606
Day’s Range 1.0595 – 1.0685
52 wk Range 1.0515 – 1.1616
1-Year Return 0.36%

Technical Support and Resistance

EUR USD market will be volatile in this week as there many important economic events will be published.

In terms of EUR USD Technical analysis the EUR/USD pair will find its immediate support at 1.0598. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0588 and 1.0581. On the other side the market has immediate resistance 1.0615. If, market breaks the primary resistance level then, market will go for the new resistance level 1.0622 and 1.0632.

Expected trading range for today is between 1.0595 supports and 1.0685 resistances.

Today the US traders will come back from a holiday, which will increase the liquidity and volatility. We also have the ECB President Draghi making a speech during the US session and though he normally doesn’t touch much upon monetary policy during his speeches, it is always important to be aware, in case he chooses to say something important. Expect bullishness in this pair for today, interspersed with periods of correction. Keep your stops tight.

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

Upcoming Important Economic News in EUROPE: (GMT +2)

  1. M3 Money Supply y/y
  2. Private Loans y/y
  3. ECB President Draghi Speaks