EUR/USD Forecast November 28, 2016, Technical Analysis

EUR/USD daily chart, November 28, 2016

The EUR/USD pair bounced on Friday, as the 1.05 level offered support. This is an area that’s massively supportive on longer-term charts, so I think we must rally from here to roll back over and build up enough momentum to smash through the level. If we break down below the level ahead of time though, that of course is a reason enough to start selling as well. I think that the EUR/USD pair could drop to the parity level if we break down below 1.05 anytime soon. I have no interest in buying this pair.