EUR/USD Outlook (15 November 2019)

Overall, EUR/USD is ranging across. Recently, EUR/USD’s downtrend took a turn after failing to break the key level of 1.10 downwards.
The eurozone employment change data released was worse than forecasted and the GDP data released was as forecasted. The market did not react much to the data release.

Flash Employment Change q/q (Actual: 0.1%, Forecast: 0.2%, Previous: 0.2%)
Flash GDP q/q (Actual: 0.2%, Forecast: 0.2%, Previous: 0.2%)

EUR/USD’s next support level is at 1.09000 and the next resistance level is at 1.11500.
Look for selling opportunities of EUR/USD if it breaks the key level of 1.10 downwards.