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27.11.202017:03 Forex Analysis & Reviews: November 27, 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 27.11.2020 analysis

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

However, after such downside movement, evident signs of bullish reversal were demonstrated around the depicted 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. Since then, the pair has been failing to breakthrough below it.

That's why, another upside movement is being expressed towards 1.1930-1.1960 where price action should be watched for possible bearish rejection.

Moreover, Bearish closure below the mentioned price zone of 1.1840 is needed to turn the intermediate outlook for the pair into bearish and enhance a quick bearish decline towards 1.1750.

Trade Recommendations :-

Currently, the price zone around 1.1930-1.1960 ( backside of the broken trendline ) stand as significant Resistance-Zone to offer a valid SELL Entry. Exit level should be placed above 1.1980

Mohamed Samy
Analytical expert of InstaForex
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