empty
 
 

Forex Analysis & Reviews: Short-term technical analysis on EURUSD for December 2nd, 2022.
time 02.12.2022 03:41 PM
time Relevance up to, 03.12.2022 03:41 PM

This image is no longer relevant

Green lines- Fibonacci retracements

Red line- RSI bearish divergence

EURUSD is trading above 1.05. Short-term trend remains bullish as price is approaching the first important Fibonacci resistance level at the 38% retracement at 1.0590. The RSI however provides an important warning in the Daily chart. The RSI has not made a higher highs, instead it provided a bearish divergence. This is not a reversal signal but an important warning bulls should not ignore. With non-farm Payrolls due out today, volatility is expected to rise and we should not be surprised if price gets rejected at the 38% retracement and a pull back starts. Major support is at the 1.0290 low and below that level we will be talking about a short-term trend reversal.

EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • 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 $10000 more!
    In January we raffle $10000 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

FILUSD Potential For Bullish Rise to previous swing high

Looking at the H4 chart, my overall bias for FILUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking

Dean Leo 08:57 2023-01-30 UTC+2

Analysis of Gold for January 30,.2023 - Sideways regime

Technical analysis: Gold has been trading in sideways regime for many days in a row and I see potential for the rejection of the support and rotation play today. Trading

Petar Jacimovic 08:50 2023-01-30 UTC+2

EUR/USD analysis for January 30, 2023 - Potential for the upside movement

Technical analysis: EUR/USD has been trading sideways at the price of 1.0860 inside of the downside channel. I see potential for the breakout mode in the next period. Trading recommendation

Petar Jacimovic 08:42 2023-01-30 UTC+2

Technical Analysis of Daily price movement of GBP/USD Main Currency Pairs, Monday January 30, 2023

If we look at the daily chart for the main GBP/USD currency pair, then there will be some interesting things: 1. The appearance of the Double Top Pattern (Yellow circle)

Arief Makmur 04:09 2023-01-30 UTC+2

Technical Analysis of Intraday Price Movement of EUR/GBP Main Currency Pairs, Monday January 30, 2023

Even though the EUR/GBP currency pair is currently being dominated by sellers who aim to bring this currency pair down to a level of 0.8743 on the 4-hour chart

Arief Makmur 04:09 2023-01-30 UTC+2

Forecast for EUR/USD on January 30, 2023

Last Friday, the euro was down 22 points. The trading volume was below the average, which suggests that big players have a wait-and-see attitude ahead of the Federal Reserve meeting

Laurie Bailey 04:03 2023-01-30 UTC+2

Forecast for GBP/USD on January 30, 2023

The pound continues to settle before the resistance at 1.2420. On the daily chart, the signal line of the Marlin oscillator is slightly inclined downward, which may indicate the price's

Laurie Bailey 04:03 2023-01-30 UTC+2

Forecast for USD/JPY on January 30, 2023

The yen has not chosen a particular direction over the past three days, but it continues to move sideways. However, it was followed by the price moving

Laurie Bailey 04:03 2023-01-30 UTC+2

Technical analysis of EUR/USD for January 28, 2023

The bullish bias will be suggested for today, supported by the EMA100 that carries the price from above, taking into consideration that breaking 1.0819 will stop the expected rise

Mourad El Keddani 18:53 2023-01-28 UTC+2
Can't speak right now?
Ask your question in the chat.