FX.co ★ The forecast for EUR / USD for November 12, 2018

EUR / USD

The Euro continues to decline. Not much remains to the target level of 1.1300. Fixing the price under it will open the next target which is 1.1200, followed by 1.1100. Today is a public holiday in the USA and Canada. The Euro is likely to remain in consolidation above 1.1300. The Marlin oscillator signal lines on the daily and four-hour charts are intended to turn up. Tomorrow, the Italian government should submit a revised budget to the European Commission. If Italy goes to the aggravation with the EU, there will be applied penalties. However, if the budget is presented, a lot of budget areas will then be cut back, which will also have a negative impact on the euro.

At this point, we are waiting for the completion of consolidation and price reduction to the designated goals.