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19.11.202016:46 Forex Analysis & Reviews: November 19, 2020 : EUR/USD daily technical review and trade recommendations.

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.

Exchange Rates 19.11.2020 analysis

Recently, Two opportunities for SELL Entries were offered upon the recent upside movement towards 1.1880-1.1900. All target levels were achieved.

Evident signs of bullish reversal were demonstrated around the recent price levels of 1.1600.

Shortly after, the EUR/USD pair has demonstrated a significant BUYING Pattern after the recent upside breakout above the depicted price zone (1.1750-1.1780) was achieved.

As mentioned in the previous article, the pair has targeted the price levels around 1.1920 which exerted considerable bearish pressure bringing the pair back towards 1.1800 which constituted a prominent KEY-Zone for the EUR/USD pair.

Recently, the price zone around 1.1840 was mentioned as a prominent KeyZone to be watched for Price Action.

The current bearish closure below which will probably trigger a quick bearish decline initially towards 1.1750.

Trade Recommendations :-

Currently, the price zone around 1.1840 stand as significant Resistance-Zone to offer a high probability SELL Entry. Exit level should be placed above 1.1860.

Mohamed Samy
Analytical expert of InstaForex
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