The EUR/USD pair may rise in the long term, according to our technical analysis. The RSI oscillator is near 50, and the next medium-term target may be 1.1863 where is 0.50 Fibo level on the daily chart.
The stochastic oscillator indicates an uptrend in the long term for this pair. The next FOMC minutes scheduled on November 29 may give a signal for USD weakness.
The most important data of this week:
US GDP QoQ (+3.6% expectation); ( +3.5% previous)
Germany Unemployment Change (-10k expectation); ( -11k previous)
Unemployment rate (5.00% expectation); ( 5.1% previous)
Germany CPI MoM unchanged (+0.2% previous)
YoY (+2.2% expectation); ( +2.5% previous)