EUR/USD Outlook (23 November 2021)

Overall, EUR/USD is trending downwards. Recently, EUR/USD broke below the key level of 1.30.

The eurozone Consumer Confidence data (Actual: -7, Forecast: -5, Previous: -5) released yesterday indicated a worsening in the level of optimism from the surveyed consumers on the economic conditions of the eurozone.

The French flash PMI data will be released later at 1615 (SGT).

• French Flash Manufacturing PMI (Forecast: 53.1, Previous: 53.6 revised from 53.5)
  
• French Flash Service PMI (Forecast: 55.1, Previous: 56.6)
  

The German Flash PMI data will be released later at 1630 (SGT).

• German Flash Manufacturing PMI (Forecast: 56.6, Previous: 57.8 revised from 58.2)
  
• German Flash Services PMI (Forecast: 51.4, Previous: 52.4)
  

The eurozone flash PMI data will be released later at 1700 (SGT).

• Flash Manufacturing PMI (Forecast: 57.2, Previous: 58.3 revised from 58.5)
  
• Flash Services PMI (Forecast: 53.6, Previous: 54.6 revised from 54.7)
  

Currently, EUR/USD is moving towards the support zone of 1.12000 and the next resistance zone is at 1.13900.
Look for short-term selling opportunities of EUR/USD.

Yorum:

Correction:
The first line should read "Overall, EUR/USD is trending downwards. Recently, EUR/USD broke below the key level of 1.13."