Post #705

TECHNICAL ANALYSIS FOR EUR/USD FOR NOVEMBER 24 ------------------------------- The EUR/USD rose yesterday after a disappointing PMI Figure was released, also the latest FOMC report meeting minutes shows that the U.S government would be slowing down Interest rate hikes over the coming months. This weakened the U.S dollar across all major currencies in the Forex market and overall direction looks bad for the U.S Dollar. However the EUR/USD seems overbought and looks to have a minor correction after meeting Resistance at around 1.04814/1.0437 area. Am expecting a slight decline to 1.0328 support or demand zone before Bullish continuation. If we get a Confirm break above 1.04377/1.04814 Resistance, then Further rise is expected.