EUR/USD Outlook (2 December 2019)

Overall, EUR/USD is trending downwards. Recently, EUR/USD tested but failed to break the support level of 1.10100.
The eurozone CPI and employment data released last Friday were overall better than forecasted but the market did not react much to the good news.

CPI Flash Estimate y/y (Actual: 1.0%, Forecast: 0.8%, Previous: 0.7%)
Core CPI Flash Estimate y/y (Actual: 1.3%, Forecast: 1.2%, Previous: 1.1%)
Unemployment Rate (Actual: 7.5%, Forecast: 7.5%, Previous: 7.6% revised from 7.5%)

ECB President Christine Lagarde will be testifying before the European Parliament later at 2200 (SGT).
During this time, volatility in euro pairs is expected.
Currently, EUR/USD is testing the support level of 1.10100 and the next resistance level is at 1.11500.
Stay out of EUR/USD for now.