The EUR/USD currency pair concludes the trading week within a downward trend and a descending channel. At the time of this forecast, the EUR/USD exchange rate stands at 1.1065. Moving averages indicate a bearish trend for the pair. Prices have broken below the area between the signal lines, pointing to pressure from sellers of the European currency and a likely continuation of the decline from current levels. For the upcoming trading week, we may see an attempt at a bullish correction, with a test of the resistance area near the 1.1105 level. From there, a downward rebound is expected, leading to a continued decline in the EUR/USD pair throughout the week. The potential target for this downward movement is the area below 1.0565.
EURUSD Weekly Forecast November 16 – 20, 2026
An additional signal supporting a decline in the EUR/USD pair is a test of the resistance line on the Relative Strength Index (RSI) indicator. A second signal would be a rebound from the upper boundary of the bearish channel. The bearish scenario for the week of November 16–20, 2026, would be invalidated by a strong rally and a breakout above the 1.1265 level; this would signify a breach of the resistance area and a potential rise toward levels above 1.1475. Conversely, a breakdown of the support area—confirmed by a close below 1.0975—would indicate a breach of the lower boundary of the descending channel, serving as a strong signal for further decline.
EURUSD Weekly Forecast November 16 – 20, 2026 suggests a potential bearish correction, with a test of the support area near the 1.1105 level. From there, a rebound is expected, leading to a continuation of the pair’s upward movement toward levels above 1.0565. An additional signal supporting this rise would be a test of the resistance line on the Relative Strength Index (RSI) indicator. The bullish scenario for EUR/USD would be invalidated if the price falls and breaks below the 1.1265 level; in that case, a continued decline could be expected, with a potential target at 1.1475.
