EUR/USD Outlook (16 November 2020)

Overall, EUR/USD is ranging across. Recently, EUR/USD broke the resistance zone of 1.17900.

The eurozone flash employment change data released last Friday indicated a strong recovery in employment while economic growth during the third quarter continued to grow at the same pace as the previous quarter.

• Flash Employment Change q/q (Actual: 0.9%, Forecast: 0.7%, Previous: -2.9% revised from -2.8%)
  
• Flash GDP q/q (Actual: 12.6%, Forecast: 12.7%, Previous: 12.7%)
  

European Central Bank President Lagarde will be speaking later at 2100 (SGT). During this time, there may be volatility in EUR.

EUR/USD’s next support zone is at 1.17900 and the next resistance zone of 1.19800.
Look for buying opportunities of EUR/USD.