Forecast for EUR / USD pair for November 26, 2018

EUR / USD pair

On Friday, the euro lost 67 points on weak PMI and waiting for the decision of the EU Brexit summit while investors insured and closed positions. Business activity in the manufacturing sector of the eurozone in November fell from 52.0 to 51.5 and the PMI in the service sector fell from 53.7 to 53.1. The US PMI indices also came out with a decline but the mood of the market has already been set.

The outcome of the EU summit was predictable and all countries of the bloc accepted the treaty, and it remains to ratify it by the parliaments of the EU and the UK until December 25. There can be difficulties on the part of the British Parliament here, hence, investors continue to hold a waiting position and we are waiting for the euro to fall further.

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On the daily chart, the price turned down from the red balance line and fixed behind the balance line and the MACD line (blue) on the four-hour chart. Marlin indicators on both scales signal a declining run. The target of 1.1190 is now open. Next, we can wait for the price on the line of the price channel in the 1.1110 area.

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The material has been provided by InstaForex Company - www.instaforex.com