empty
 
 

Forex Analysis & Reviews: Trading plan for starters of EUR/USD and GBP/USD on November 24, 2021
time 24.11.2021 11:00 AM
time Rilevanza fino a, 25.11.2021 09:50 AM

Here are the details of the economic calendar for November 23, 2021:

Yesterday, speculators spent the whole day watching the statistical data on business activity indices.

Let's look at them in detail in the context of each country.

Europe published its index of business activity in the manufacturing sector at 9:00 Universal time, where it suddenly showed not a decline, but growth, which confused the markets. The euro quote locally strengthened, but then returned to its original position, resuming the downward cycle. In terms of the details of the indicator, the production index rose from 58.3 to 58.6 points, against the expected decline to 57.5 points. At the same time, the index of business activity in the service sector, which was supposed to fall from 54.6 to 54.0 points, rose to 56.6 points.

Similar data were published for the UK at 9:30 Universal time, but like in Europe, the indices showed growth instead of declining. The manufacturing index increased from 57.8 to 58.2 points, against the forecast of 57.1 points. The business activity in the service sector in the country still declined, although not as much as predicted. In fact, it decreased only to 58.6 points when it should have decreased from 59.1 to 58.3 points.

The pound sterling did not pay attention to the discrepancy in statistical data and continued to decline.

The United States reported on indices at 14:45 Universal time, where growth was predicted, but the data came out slightly worse than expected, which locally weakened dollar positions.

Here, the index of business activity in the manufacturing sector confirmed expectations for growth. It surged from 58.4 to 59.1 points. However, everything is not so smooth in the service sector. The index was expected to grow from 58.7 to 59.0 points, but instead, it fell to 57.0 points.

Analysis of trading charts from November 23:

The EUR/USD pair slowed down the downward cycle around the base of 2021. As a result, there was a price stagnation within the borders of 1.1225/1.1275. Despite the temporary stop, sellers dominate the market, as indicated by a stable downward trend from the beginning of June, the scale of which is 1000 points.

The GBP/USD pair resumed its downward movement after a slight pullback, which led to the price holding below the support level of 1.3400. As a result, the quote strengthened the downward course, piercing the local low of November 12 – 1.3350 with candle shadows.

The trading plan on November 23 considered the scenario of downward price development towards the level of 1.3350. A trading recommendation could bring us a profit in the area of 25-30 points, which is $ 25-30 with a transaction volume of 1 Installot.

This image is no longer relevant

November 24 economic calendar:

The next estimate of the US GDP for the third quarter will be published today at 13:30 Universal time, where the economic growth rate is predicted from 2.0% to 2.1%. This is considered a positive factor.

At the same time, data on orders for durable goods in the country will be published, where they are forecast to grow by 0.3%. It should be noted that this indicator is considered one of the best economic indicators of the state of consumer activity. Thus, the growth of orders for durable goods may well support the US dollar.

The data on applications for unemployment benefits in the United States will also be released, where they predict a slight reduction in their volume.

Details of statistics:

The volume of initial applications for benefits may fall from 268 thousand to 260 thousand.

The volume of repeated applications for benefits may fall from 2,080 thousand to 2,033 thousand.

The reason for the release of the filing data a day earlier is due to the Thanksgiving Day holiday in the United States on November 25 .

Trading plan for EUR/USD on November 24:

It can be assumed that the price movement in the range of 1.1225 / 1.1275 will remain on the market for some time. This will lead to an accumulation of trade forces.

In case of coincidence of expectations, the most suitable trading tactic is considered to be the method of breaking through one or another border of the established range.

Trading recommendations:

Buy positions should be considered after holding the price above the level of 1.1280.

Sell positions should be considered after holding the price below the level of 1.1220.

This image is no longer relevant

Trading plan for GBP/USD on November 24:

Since the quote touched this year's local low, there was a reduction in the volume of short positions. This led to a natural price rebound, followed by a slowdown. In order to prolong the downward cycle to new price levels, the quote needs to stay below the level of 1.3350 for at least a four-hour period. Otherwise, there may be a pullback to the previously passed level of 1.3400.

This image is no longer relevant

What is reflected in the trading charts?

A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices.

Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market.

Circles and rectangles are highlighted examples where the price of the story unfolded. This color selection indicates horizontal lines that may put pressure on the quote in the future.

The up/down arrows are the reference points of the possible price direction in the future.

:

Gven Podolsky,
Esperto analista di InstaForex
© 2007-2022
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

  • 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
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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

Impariamo e analizziamo, un piano di trading per i trader principianti su EURUSD e GBPUSD 02.12.22

Il tasso di disoccupazione nell'UE a ottobre è sceso inaspettatamente al 6,5%, dicono i dati dell'agenzia statistica europea Eurostat. Vi ricordo che tutti si aspettavano che l'indicatore rimanesse al livello

Gven Podolsky 09:16 2022-12-02 UTC+2

Impariamo e analizziamo, un piano di trading per i trader principianti su EURUSD e GBPUSD 30.11.22

Ieri sono stati pubblicati i dati sul mercato dei prestiti nel Regno Unito, dove i dati sono risultati peggiori del previsto. Così il numero di mutui approvati ammonta a 58.000

Gven Podolsky 09:20 2022-11-30 UTC+2

Impariamo e analizziamo, un piano di trading per i trader principianti su EURUSD e GBPUSD 29.11.22

Il lunedì era tradizionalmente accompagnato da un calendario macroeconomico vuoto. Statistiche importanti in Europa, Regno Unito e Stati Uniti non sono state pubblicate. La coppia di valute EURUSD ha mostrato

Gven Podolsky 09:19 2022-11-29 UTC+2

Impariamo e analizziamo, un piano di trading per i trader principianti su EURUSD e GBPUSD 28.11.22

La scorsa settimana si è conclusa non solo con un calendario macroeconomico vuoto, ma anche con volumi di scambio ridotti. La ragione di ciò è il Ringraziamento negli Stati Uniti

Gven Podolsky 10:41 2022-11-28 UTC+2

Piano di trading per EUR/USD e GBP/USD il 24/11/2022

Tutto indicava l'inevitabilità di una correzione. Sia l'evidente ipervenduto del dollaro che le previsioni delle statistiche macroeconomiche hanno chiaramente favorito un notevole rafforzamento del dollaro. Ma non appena sono state

Mark Bom 11:09 2022-11-24 UTC+2

Previsioni e segnali di trading per GBP/USD il 18 novembre. Rapporto COT. Analisi dettagliata del movimento della coppia e transazioni di trading. La sterlina britannica è sopravvissuta molto rapidamente al piano di Jeremy Hunt.

La coppia di valute GBP/USD ha mostrato due buoni movimenti giovedì. Nel bel mezzo della sessione di negoziazione europea, la coppia ha iniziato un calo piuttosto netto, che, dal nostro

Paolo Greco 06:42 2022-11-18 UTC+2

Previsioni e segnali di trading per EUR/USD il 18 novembre. Rapporto COT. Analisi dettagliata del movimento della coppia e transazioni di trading. L'inflazione nell'UE è aumentata leggermente meno del previsto.

Durante il quarto giorno di negoziazione della settimana, la coppia euro/dollaro ha continuato a scambiarsi con riluttanza. Se al mattino si è verificato un movimento correttivo (non forte), nel pomeriggio

Paolo Greco 06:06 2022-11-18 UTC+2

Piano di trading per EUR/USD e GBP/USD il 10/11/2022

A quanto pare, i Democratici otterranno la maggioranza al Senato e i Repubblicani alla Camera, il che non è il peggior risultato in termini di mercati, e ora tutta l'attenzione

Mark Bom 08:38 2022-11-10 UTC+2

Previsioni e segnali di trading per EUR/USD il 9 novembre. Rapporto COT. Analisi dettagliata del movimento della coppia e transazioni di trading. La valuta europea continua a crescere senza motivo.

La coppia euro/dollaro ha continuato il suo movimento al rialzo martedì e ha aggiunto altri 80 punti in un giorno. Ancora una volta, senza motivo. Per la maggior parte della

Paolo Greco 06:52 2022-11-09 UTC+2

Piano di trading per EUR/USD e GBP/USD il 08/11/2022

A quanto pare, fino a quando non appariranno i primi risultati preliminari delle elezioni di medio termine negli Stati Uniti, il mercato si fermerà letteralmente, poiché anche il movimento

Mark Bom 08:27 2022-11-08 UTC+2
In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.