EUR/USD Technical Analysis: Euro ends November with a bounce near the 1.1000 handle

 

 

The Euro is ending November above the 1.1000 handle with the October’s range. The market is trading in a weak bear channel. 

 

 

The market is trading at six-week lows while trading below the main weekly SMAs. All-in-all maintaining an underlying bearish bias. 

 

 

EUR/USD, on the daily time frame, is trading in a bear trend below the main daily simple moving averages (DMAs). However, the market is becoming increasingly choppy and a bounce from the 1.1000 handle appears more likely in the medium term. Resistances to the upside are seen at the 1.1035, 1.1047 and 1.1075 price levels, according to the Technical Confluences Indicator.