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Forex Analysis & Reviews: Forecast for EUR/USD on November 28, 2022
time 28.11.2022 04:34 AM
time Relevance up to, 29.11.2022 04:32 AM

Last Friday, the euro touched the lower shadow of the support at 1.0360, this morning it did the same thing. The price needs to settle under this level so it can reach 1.0205, and it will form a double top on the daily chart. But the price is not in a hurry to do so. Therefore, if today closes with a white candle, then there is a high probability of a breakout of 1.0470 and a divergence may form with the Marlin oscillator.

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The situation on the weekly chart contributes to the divergence option - here we see that the MACD indicator line still hasn't been reached. But whether it will be reached or not, remains an intrigue.

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On the four-hour chart, the price crossed the MACD line on the descending Marlin oscillator. There was a similar transition on Friday, it was not reliable. Now, when the Marlin oscillator is involved, the price has a chance of settling under 1.0360. Watch the situation, for a signal for a short-term growth or a medium-term fall.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2023

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