13 November EUR/USD outlook

Stochastic oscillator stays flat in extremely oversold zone, MACD oscillator shows mixed signals. It is hard to determine the long term trend at the moment, but traders should take into account that the pair is very sensitive to fundamental factors. Currently the pair stands on the following critical levels: R2- 1.2756 R1- 1.2731 P- 1.2715 S1- 1.2689 S2- 1.2672 As long as the pair stands below the daily pivot at 1.2715, the pair stands on bearish bias down to 1.2647. However breaking above 1.2715 traders could expect targets towards 1.2773 level. R=Resistance P= Daily Pivot S= Support