EURUSD Awaiting European Manufacturing Data


November 23, OctaFX – The euro currency is trading close to the 1.1400 support level against the US dollar, ahead of the release of key November PMI Manufacturing data from the eurozone.

The EURUSD pair has had a muted reaction to the news surrounding a potential soft Brexit deal between the UK and the EU.

EURUSD technical prediction

A clear technical break from the wedge pattern on the four-hour time frame will likely prompt the next directional move.

  • The EURUSD pair is only bearish while trading below the 1.1400 level, key technical support is found at the 1.1355 and 1.1330 levels.
  • If the EURUSD pair trades above the 1.1465 level, key technical resistance is found at the 1.1500 and 1.1553 levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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