empty
 
 
29.11.2019 04:10 PM
EUR/USD for November 29,2019 - Key short-term support at the price of 1.0980 on the test, watch for potential rotation around it

EUR/USD did reach our main downward target at the price of 1.0994 but it found buyers there, which is sign that selling must be over for today. The level of 1.10980 is very important support and you should watch for potential reaction back to the upside.

This image is no longer relevant

Stochastic oscillator is showing rising highs and bullish divergence, which is sign that sellers are losing the power.

Support levels are seen at the price of 1.1094 $ and 1.1080. Resistance level is set at 1.1018, 1.1028 and 1.1050.

My advice is to watch for potential buying opportunities due to support on the test but anyway if you see the breakout of 1.1080 with high volume, there is potential for further downside and test of 1.0950 or 1.0915.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback