EUR/USD weekly chart, November 28, 2016

EUR/USD forecast for the week of November 28, 2016, Technical Analysis

The EUR/USD pair bounced back and forth during the course of this past week, as the 1.05 level has offered quite a bit of support. This is a market that is testing major support at this point, so ultimately, I feel that a bounce is probably necessary. Any exhaustive candle above year could be a selling opportunity though, as it would be building up pressure to break down to lower levels. If we can break down below the 1.05 handle before doing that, I would go ahead and start shorting and aiming for the parity level next.