For Traders

Analytical Reviews

Technical analysis

25.11.202012:27 Forex Analysis & Reviews: EUR/USD Forecast, 25 November

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Euro buyers are now trying to hold a break above the 9 November high of 1.1920.

However on the 4 hourly chart, we can see that a shooting star occurs after an advance and indicates the price could start falling. The long upper shadow represents the buyers who bought during the day but are now in a losing position because the price dropped back.

Traders typically may wait to see what the next candle does following a shooting star. If the price declines during the next period they may short. On the downside, there are many important supports, starting with 1.1830. There is also a key bullish trend line forming with support on the same chart. If there is a downside break below the ascending trend line support and forming a new low, the pair could test 1.1800. Any further losses may perhaps lead EUR/USD towards the 1.1750 support zone.

On the flip side, if the price rises after a shooting star, the price range of the shooting star may still act as resistance. The price may consolidate in the area of the shooting star. If the price ultimately continues to rise, the uptrend is still intact and traders should favor long position. A firm push above that to see little in the way of the pair heading towards some daily resistance around 1.1966 and then the 1.2000 level.

Back to EUR/USD, this could be buyers starting to test the waters a little so just be mindful that there could be more follow through momentum in US trading later.

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.