empty
 
 
27.11.2020 05:03 PM
November 27, 2020 : EUR/USD daily technical review and trade recommendations.

This image is no longer relevant

In October, Two opportunities for SELL Entries were offered upon the recent upside movement towards 1.1880-1.1900. All target levels were achieved.

However, after such downside movement, evident signs of bullish reversal were demonstrated around the depicted price levels of 1.1600.

Shortly after, the EUR/USD pair has demonstrated a significant BUYING Pattern after the recent upside breakout above the depicted price zone (1.1750-1.1780) was achieved.

As mentioned in the previous article, the pair has targeted the price levels around 1.1920 which exerted considerable bearish pressure bringing the pair back towards 1.1800 which constituted a prominent KEY-Zone for the EUR/USD pair.

Recently, the price zone around 1.1840 was mentioned as a prominent KeyZone to be watched for Price Action. Since then, the pair has been failing to breakthrough below it.

That's why, another upside movement is being expressed towards 1.1930-1.1960 where price action should be watched for possible bearish rejection.

Moreover, Bearish closure below the mentioned price zone of 1.1840 is needed to turn the intermediate outlook for the pair into bearish and enhance a quick bearish decline towards 1.1750.

Trade Recommendations :-

Currently, the price zone around 1.1930-1.1960 ( backside of the broken trendline ) stand as significant Resistance-Zone to offer a valid SELL Entry. Exit level should be placed above 1.1980

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback