Euro/USD forecast…

The EURUSD closed on 2021.11.19 at 1.1285.

On the charts, an old support becomes a new resistance. The key level is marked by the red pen. It has bounced there, and the new way is down. Also the movement up is NOT supported by any momentum indicator.

If we had to bet, we would see the EURUSD lower than 1.1 and eventually crossing the parity. What we don’t consider is any big strengthening in the euro for many years.