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26.11.202008:39 Ανάλυση και κριτικές Forex: Indicator analysis. Daily review on the EUR/USD currency pair for November 26, 2020

Trend analysis (Fig. 1).

Today, from the level of 1.1915 (closing of yesterday's daily candle), the market can continue to move upward with the goal of 1.1945 - the historical resistance level (blue dotted line). When testing this level, there should be further work upward with the goal of 1.1999, which is the upper limit of the Bollinger line indicator (black dotted line). From this level, downward work is possible.

Exchange Rates 26.11.2020 analysis

Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Fibonacci levels - up;
  • Volumes - up;
  • Candlestick analysis - up;
  • Trend analysis - up;
  • Bollinger bands - up;
  • Weekly chart - up.

General conclusion:

Today, from the level of 1.1915 (closing of yesterday's daily candle), the market can continue to move upward with the goal of 1.1945 - the historical resistance level (blue dotted line). When testing this level, there should be further work upward with the goal of 1.1999, which is the upper limit of the Bollinger line indicator (black dotted line). From this level, downward work is possible.

Alternative scenario: when moving upward and testing the historical resistance level of 1.1945 (blue dotted line), the price may start moving downward with the target of 1.1897 – a 14.6% pullback level (red dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Stefan Doll,
Αναλυτικός εμπειρογνώμονας της InstaForex
© 2007-2022
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