empty
 
 
29.11.2022 07:38 AM
Trading plan for EURUSD on November 29, 2022

This image is no longer relevant

Technical outlook:

EURUSD rose through the 1.0496 high on Monday, inching closer to the 1.0550-1.0600 area, before finding resistance. The single currency pair is seen to be trading close to 1.0385 at this point in writing after reversing sharply from 1.0496. The near-term support is seen at 1.0222 as the bulls prepare to push through 1.0560 in the short term.

EURUSD is most likely preparing to push through 1.0600 but prices need to stay above 1.0222 to keep the bullish structure intact. A slip lower could drag prices up to 1.0000 which is close to the Fibonacci 0.618 retracement of the recent upswing between 0.9740 and 1.0481. Prices are expected to rally thereafter and break above the 1.0496 high.

EURUSD seems to be well supported around 0.9740, followed by 0.9635 and lower; while resistance is seen towards 1.0500, followed by 1.0600 and higher respectively. Also, note that an annual downtrend line is seen to be passing through 1.0600, which could lead to a potential bearish resumption. One more leg still remains on the higher side before the bears are back in control.

Trading idea:

Potential rally through 1.0550-1.0600 against 1.0220. Then lower again.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback