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Forex Analysis
by ForexNewsNow Team on November 18th, 2010

EUR/USD forex technical analysis round-up: Nov. 18

NEW YORK (Forex News Now) – The euro is continuing the upward trajectory it commenced vis-a-vis the U.S. dollar yesterday trading at 1.3640 as of around 9:55 A.M. GMT on Thursday. The euro’s renewed momentum comes as the Irish bailout takes shape and moves towards becoming a reality.

The euro is up 0.82% from its open of 1.3529 and has reached a session high of 1.3658 with a low of 1.3526 so far.

Here is what the major realtime forex news outlets had to say about the EUR/USD pair in the short-term:

FXstreet predicted EURUSD “might find resistance at 1.3655/65 (Nov 17 high/intraday resistance) and 1.3685 (Daily Pivot Point R3)” with support “at 1.3570 (intra-day support), and below here, 1.3525 (session low) and 1.3505 (Sept 22 high).”

Forexpros for its part featured forex analysis from Commerzbank which posited that the euro would not be able to get much higher than the 1.3600 level against the U.S. dollar and risks falling to 1.3365/35 and then to 1.3138.

The analysis added that the euro will face interim resistance at 1.3645 and 1.3765/75.

By ForexNewsNow Team

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