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09.11.202112:58 Forex Analysis & Reviews: Technical analysis recommendations of EUR/USD and GBP/USD on November 9, 2021

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

EUR/USD

Exchange Rates 09.11.2021 analysis

The pair returned to the attraction and influence zone of the levels 1.1576 - 1.1602, where uncertainty was previously observed. Another consolidation in this area may delay the development of the situation again for a long time. Moving beyond the limits of this attraction zone and beyond the daily Ichimoku cross (1.1624) will allow us to rise to a more fortified and significant resistance zone of 1.1680 - 1.1695 - 1.1717 (weekly Tenkan + monthly Fibo Kijun + daily cloud).

But if the bulls fail to do this and the bears begin their new activity will most likely allow us to test the accumulation of support levels at 1.1492 - 1.1474 - 1.1447 (monthly Ichimoku cloud + monthly medium-term trend).

Exchange Rates 09.11.2021 analysis

Bullish traders managed to consolidate above key levels in the smaller timeframes and take the main advantage and support of the analyzed technical indicators. At the moment, the resistance level of 1.1604 (R1) is being tested. The next pivot points of 1.1622 (R2) and 1.1648 (R3) are located above. In this situation, much depends on the result of interaction with the daily attraction zone (1.1576-1.1602-24). The key support levels here, which can change the balance of power, are now joining forces around 1.1574-78 (central pivot level + weekly long-term trend). The supports for the classic pivot levels are currently set at 1.1560 - 1.1534 - 1.1516.

GBP/USD

Exchange Rates 09.11.2021 analysis

The bulls, using the potential of Friday's deceleration, rose to the attraction zone of the historical levels 1.3571 - 1.3601 yesterday. Next are the resistance lines of 1.3619-29 (daily cross + lower border of the daily cloud) and 1.3661 (weekly short-term trend). A consolidation above will allow leveling the bearish potential of last week, after which a new assessment of the situation will be required. The inability of the bulls to break through the designated levels may lead to consolidation or to the end of the rise, with the return of a bearish scenario.

Exchange Rates 09.11.2021 analysis

There is a struggle for key levels in the smaller timeframes. It should be noted that the breakdown of the weekly long-term trend (1.3567) and the reversal of the moving average will serve as the basis to further strengthen the bullish positions. The next upward targets are located at 1.3610 - 1.3659 - 1.3740 (classic pivot levels). In turn, the end of growth and the formation of a rebound from the key levels 1.3567-29 (weekly long-term trend + central Pivot-level) in the same timeframes will return the bears in the market, whose main target will be to restore the downward trend (1.3424).

***

Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.

Evangelos Poulakis
Analytical expert of InstaForex
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