EUR/USD Outlook (7 November 2019)

Overall, EUR/USD has been trending upwards. Recently, EUR/USD trended lower, breaking the key level of 1.11.
Look for selling opportunities of EUR/USD but take note of the EU economic forecasts that will be released at 1800 (SGT). This report contains economic forecasts for EU member states for the next two years. Positive forecasts may cause the euro to strengthen and negative forecasts may cause the euro to weaken.
EUR/USD’s next support level is at 1.09000 and the next resistance level is at 1.11500.