29.11.202407:49 Forex Analysis & Reviews: EUR/USD Forecast for November 29, 2024

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The euro closed yesterday with a slight decline, indicating the start of a potential consolidation phase below the 1.0590 resistance level.

The price may attempt to break this level, move toward 1.0636, and rise above it. However, for this to happen, the Marlin oscillator needs to move into positive territory first. If either the price or oscillator reverses at resistance, the price could retreat to the 1.0449/83 range, with the possibility of breaking below it.

On the four-hour chart, the upward trend remains intact as the price holds above the indicator lines, with the Marlin oscillator rising in positive territory. If the price consolidates above 1.0590, it is likely to advance further toward 1.0636.

Back to the list

Open trading account

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.