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Thread: EUR/USD (part 80)

     
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    2020-11-25   10:41
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    Hello, dear speculators.
    Attachment 302883
    During the Asian session, buyers managed to pull the price up, and the euro/dollar pair was able to resume its upward movement. The quotes are trading near the high of the 1.1818-1.1919 channel.
    For the euro to continue gaining in value, buyers need to drag the price up so that it can break through the 1.1900 resistance level. In this case, the euro will be able to rise above 1.1919. The level of 1.2000 can be seen as a target.
    However, let's get back to the main problem that we have been experiencing for more than two months. This is the trading resistance level of 1.1900. The euro/dollar pair tried to advance above this level, but traders resumed short positions.
    Today, I expect the price to make another attempt to reach and overcome the level of 1.1919. If buyers fail again, the euro/dollar pair will most likely go deep down. After all, the main trading channel is 1.1700-1.1900.

    The attachment
    2020-11-24   10:09
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    On the H1 chart, the euro/dollar pair fell to the level of 1.1800. Then the price started to trade upwards in the channel, breaking through its lower border - the level of 1.1849. If the price overcomes the resistance level of 1.1858, the pair is likely to continue its bullish run to the level of 1.1867. Otherwise, the pair will decline from 1.1858 to 1.1840. In case the price breaks through this level, the euro/dollar pair will most likely continue its descent to the level of 1.1825.
    On the H4 chart, the pair went down and broke through the Senkou Span B line of the Ichimoku Cloud equal to 1.1815, thereby showing the main direction of the pair's movement. Then the price rebounded from the level of 1.1800 and started to trade in an upward trend, moving towards the level of 1.1858 through the breakout of the 1.1849 pivot point. If the price rebounds from this level, the pair is expected to slip to the level of 1.1841.
    In case the price breaks through 1.1841, the euro/dollar pair is likely to continue falling to the level of 1.1825, pull back to the level of 1.1833, and decline to 1.1783 to overcome the S1 support level at 1.1792. If the price breaks through the level of 1.1858, the pair will continue rising to the level of 1.1867 and then turn around towards the downside.
    The Renko Scalper indicator points to the pair's bullish trend, and there are no signs of a reversal. The MACD indicator shows a sell signal as the histogram is above the signal line. The breakout of the 1.1883 mark will cancel the pair's downtrend, but I think this will hardly happen.

    The attachment
    2020-11-23   09:11
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    During the Asian session, the euro/dollar pair advanced moderately. Currently, the pair is trading near the highs of the last trading week. The quotes are moving up amid the weaker US dollar. Today's macroeconomic calendar includes some important releases on the eurozone's services sector. This news may put some downward pressure on the common European currency. Besides, the situation related to the coronavirus in Europe remains challenging. That is why the authorities are introducing more and more stringent restrictions on business and the movement of their citizens.
    Attachment 301849
    On the other hand, the demand for the euro remains strong on the back of the weak US dollar. The US currency continues to fall against a basket of major currencies. In the first half of the day, I expect the euro/dollar pair to make a good downward correction, but in general, I think that the pair will continue in an upward trend. The pair is trading under the complete control of bulls. A possible pivot point lies at the level of 1.1825.
    Today, I am going to buy the pair above this mark with a view to reaching the target levels of 1.1915 and 1.1965. Of course, there is an alternative scenario. The euro/dollar pair may lose ground, break through the level of 1.1825, and consolidate below it. In this case, the pair may fall to the levels of 1.1795 and 1.1765.

    The attachment
    2020-11-24   09:03
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    Yesterday, the euro/dollar pair made a significant downward movement. The price fell below the level of 1.1800. However, then it started to gain ground again. As a result, bulls managed to pull the price up to the level of 1.1845. The macroeconomic calendar was bereft of any important releases. It means that something in the political arena has happened. The euro/dollar pair is currently moving upwards again. Moreover, other currencies also advanced against the greenback. Therefore, the news was fake. According to the indicators on the hourly chart, bulls still have the advantage. I suppose that today the price will slowly move in an upward trend to the top, from which it began to decline to the level of 1.1900 yesterday. As for the news, today's macroeconomic calendar includes statistics from Germany. Besides, some data on the US economy is set to be published later. Otherwise, these releases will hardly have a severe impact on market sentiment. Thus, if nothing in the political arena happens again, the euro/dollar pair is expected to continue trading upwards.

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    2020-11-25   09:05
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    As I expected, during the previous session, the euro/dollar pair was trading under the control of buyers. Bulls were able to bring the price back to just above 1.1900. The pair managed to recoup the losses suffered from its previous sharp drop. According to the indicators on the hourly chart, the euro/dollar pair is trading in an upward trend again. Today, in the early European session, the price is likely to make a slight downward pullback and then return to the level of 1.1907. However, I expect the pair to move in a sideways trend until the American session. The movement for the last two days has been quite significant, but the situation in the economic and political spheres is still unclear. Therefore, I think that the quotes will be moving sideways. Today's macroeconomic calendar includes some important releases from the United States. The data on GDP, new home sales, as well as other information will be published today. Thus, this news may have an impact on the market. At the same time, there may be no reaction. Therefore, I still expect the euro/dollar pair to trade in a sideways trend today.

    The attachment
    2020-11-26   10:11
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    Yesterday, the euro/dollar pair was trading under pressure from bulls. Buyers were able to drag the price up. Under such pressure, the pair managed to reach the level of 1.1923. However, the bullish movement was weak. According to the indicators on the hourly chart, buyers still have the advantage. At the same time, the quotes will hardly trade upwards today. The pair will most likely move in a sideways trend. The previous trading day showed that there were no strong players in the market. That is why the current movement is still sluggish. Moreover, today is a day off in the United States, so there are no drivers for the pair's significant dynamics. I expect the euro/dollar pair to move sideways, but I cannot exclude a weak downward pullback. Today's macroeconomic calendar includes some statistics from the European Union. In the United States, there is a day off because of Thanksgiving. There are no releases that can have a severe impact on market sentiment. Therefore, the pair is expected to move in a sideways trend.

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    We can safely say that the bulls very vaguely disposed of the opportunity given to them to get even closer to the round level of 1.2000. In fact, it didn't even reach 1.1950.

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    The pair is currently trading above the opening of the day which is at 1.1910. My analysis for today is that, if the price manages to reach above the level of 1.1930, then the pair will most likely move upward with the target at the level of 1.1940. If this level is broken, the upward trend may continue with the next target of 1.1970. On the other hand, if the price trades below the level of 1.1910, then a downward trend is possible with the target at the level of 1.1900. A breakdown of this level may force further decline to the level of 1.1880.

    At the moment, the pair is trading above the daily pivot level and the main trend line MA72. So far the indicators on the H1 chart suggest a possible upward trend. This, I will only look forward to if the price starts to trade above the level of 1.1930. If not, then I expect a downward pullback.

    M27.png

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    According to the H4 chart, bulls have every opportunity to continue pulling the price up and reach their intraday target levels of 1.1941, 1.1969, and 1.1997. The downtrend is limited by the lower Bollinger Band, the level of 1.1849, but this is temporary as the band is expected to rise to the MA60 and above.


    2.jpg

    According to the H1 chart, the euro/dollar pair has recently consolidated above the upper line. Therefore, the quotes are currently trading in an upward trend. In case the price consolidates below the level of 1.1896, the pair will most likely enter the area of a narrowing sideways trend.

    However, bears may drag the price down so that the price can reach their two intraday targets at 1.1885-1.1887, but the achievement of the second target remains in question.


    3.jpg

    According to the M15 chart, market sentiment is bullish, and the euro/dollar pair is also trading upwards. Buyers are taking the lead, and the downward trend is limited by the level of 1.1909.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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