EUR/USD Forecast Nov. 14th, 2011, Technical Analysis

EUR/USD rose on Friday as the EU begins to take serious steps in resolving their debt crisis. The Greeks swore in a new Prime Minister, and the Italians passing new budget reforms. The pair rose rapidly during the US session as it was a holiday, and slammed into the 1.38 handle. The area looks resistive, and we think this pair will more than likely consolidate in the previous area, with the top being just above at 1.39 – 1.40, and the pair more than likely will continue to be driven by headlines out of the continent.

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