empty
 
 
27.11.2023 04:21 PM
EUR/USD below 1.0963 key resistance

The EUR/USD pair rallied in the short term as the Dollar Index dropped deeper. Now, is located at 1.0947 at the time of writing and it maintains a bullish bias. Still, after such an impressive growth, the price action signaled exhausted buyers. Though, a sell-off needs confirmation, that's why it's prematura to talk about it.

The USD depreciated as the US manufacturing sector confirmed contraction again on Friday. Today, the New Home Sales indicator could announce a potential drop from 759K to 724K. Poor data could weaken the greenback.

EUR/USD Overbought Signs!

This image is no longer relevant

Technically, the EUR/USD pair found support on the 50% (1.0861) retracement level and now it has reached the 61.8% (1.0959) retracement level. This represents a static upside obstacle.

Also, the former high of 1.0965 represents a key resistance level. On the contrary, the immediate low of 1.0927 and the uptrend line represent downside obstacles.

EUR/USD Outlook!

A bearish closure below 1.0927 and under the downtrend line is seen as a short opportunity.

A new higher high, jumping and closing above 1.0965 activates further growth.

Ralph Shedler,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $6000 mais!
    Em Dezembro nós sorteamos $6000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback