For Traders

Analytical Reviews

Technical analysis

24.11.202008:11 Forex Analysis & Reviews: The Central European Bank kept EURUSD from rising again

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 Bank's 1.1833 level remains the defining resistance. Until tomorrow, this mark will remain a significant barrier to the pair's growth. It is important to note that there is still no violation of the upward momentum, so conditions may be created for the EURUSD to continue growing in the near future.

The medium-term accumulation zone makes it possible to look for sales from the Bank level and purchases from the lower zone of the Central Bank at 1.1769. Working in the range implies short profit fixing at the borders.

To continue growth before the start of new operations on the open market, it will be necessary to close today's trading above the level of 1.1883. This will lead to the formation of a bullish model for the current week.

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.