empty
 
 
27.11.2019 01:06 PM
Trading plan for EUR/USD for November 27, 2019

This image is no longer relevant

Technical outlook:

EUR/USD is still looking to form a low before resuming its rally towards 1.1500 levels. It is seen to be trading at around 1.1000 levels at this point in writing, looking to push lower towards 1.0980 or 1.0940 levels before forming a bottom. The region marked in a square box is expected to provide support. Please also note that fibonacci convergence is seen through 1.0940 levels as shown on the chart. The overall structure still remains bullish, until prices stay above 1.0879 levels, going forward. If 1.0990 holds, bulls could enter the market from the current price, while a break lower would open doors for a test towards 1.0940 levels, before the rally could resume. It would be fibonacci 0,786 support of the previous rally and an important level for bulls to remain in control, going forward. Immediate price support is seen through 1.0930/40 levels, while resistance is at 1.1097 for now.

Trading plan:

Remain long, stop at 1.0879, the target is 1.1500

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
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 $3000 more!
    In September we raffle $3000 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