empty
25.11.2021 10:43 AM
Trading plan for beginners on EURUSD and GBPUSD for November 25, 2021

Details of the economic calendar of November 24

The negative indicator for durable goods orders did not hinder the U.S. dollar. The data on orders came out worse than expected, declining by 0.5% in the period of October, which forecasts expected to grow by 0.3%.

At the same time, United States unemployment claims declined significantly in volume.

Details of statistics:

Initial claims for benefits decreased from 270,000 to 199,000.

Continuing claims for benefits decreased from 2.1 million to 2 million.

Finally, the published data on new home sales in the United States saw an increase of 2% in October, which forecasts expected to decline by 0.4%.

As a result, indicators on the labor market and new home sales overcame the negative side of orders for durable goods. The U.S. dollar has moved to strengthen.

Analysis of trading charts from November 24

After a short stagnation in the range of 1.1225 / 1.1275, the EURUSD currency pair broke through its lower border. As a result, the downward trend cycle was prolonged, which strengthened short positions in the market.

The chart of the daily period shows an inertial course, where the euro weakened by 3.5% in two weeks. Such a large-scale price change in a short period of time signals that the asset is oversold, which can lead to a technical correction.

The trading plan of November 24 considered the tactics of breaking one or another boundary of the established range of 1.1225 / 1.1275. As a result, a sell position was opened, which brought profit.

The support level of 1.3350 for the GBPUSD pair was successfully broken by speculators. This step led to the subsequent construction of a downward trend. Unlike the EURUSD pair, the British pound is not so much oversold yet. Looking ahead, everything is just beginning for sellers.

The trading plan of November 24 considered the possibility of entering a sell position at the time of holding the price below the support level of 1.3350.

This image is no longer relevant

Economic calendar for November 25

Today is a non-working day in the United States due to Thanksgiving, and in Europe and Britain, the macroeconomic calendar is completely empty, so the market will stand still or show low activity.

Trading Plan for EURO/DOLLAR on November 25

Taking into account the scale of the decline and the absence of a corrective move, we can assume a temporary slowdown in the downward cycle. This will lead to price stagnation or a 100-point correction.

The price area 1.1160 / 1.1180 serves as a pivot point on the path of sellers.

This image is no longer relevant

Trading Plan for POUND/DOLLAR on November 25

It can be assumed that traders are in the stage of price fiction relative to the level of 1.3350, where the breakout-rollback pattern was formed. Stable price retention below 1.3350 increases sellers' chances of a subsequent decline in the pound sterling.

An alternative scenario will be considered by traders in the event of a correction stage. A buy signal will appear from the market when the price holds above 1.3360 in a four-hour period.

This image is no longer relevant

What is reflected in the trading charts?

A candlestick chart is represented by white and black graphic rectangles with lines at the top and bottom. With a detailed analysis of each individual candle, you can see its characteristics relative to a particular time period: open price, close price, maximum and minimum prices.

Horizontal levels are price coordinates, relative to which a stop or price reversal may occur. In the market, these levels are called support and resistance.

Circles and rectangles are highlighted examples where the price of history has reversed. This highlighting in color indicates horizontal lines that may put pressure on the quote in the future.

The up/down arrows are indications of the possible direction of the price in the future.

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

How to Trade the GBP/USD Pair on May 23? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD The GBP/USD pair didn't even attempt a correction on Thursday. While the euro faced bearish pressure from weak business activity indices

Paolo Greco 05:58 2025-05-23 UTC+2

How to Trade the EUR/USD Pair on May 23? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD On Thursday, the EUR/USD currency pair corrected to the nearest support level on the hourly timeframe, which was at 1.1267. Multiple factors

Paolo Greco 05:57 2025-05-23 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 23: Pound Prepares for a Historic Breakout

The GBP/USD currency pair broke out of its sideways channel through the upper boundary, but it is in no hurry to continue rising. Traders appear to be gathering momentum

Paolo Greco 03:43 2025-05-23 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 23: The Euro Couldn't Withstand the Pressure

On Thursday, the EUR/USD currency pair traded lower, which can be considered an exception to the general trend. Nearly all macroeconomic reports during the day were unfavorable for the euro

Paolo Greco 03:43 2025-05-23 UTC+2

How to Trade the GBP/USD Pair on May 22? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair maintained its upward trend on Wednesday, a movement that has developed over the past two weeks. Recall that

Paolo Greco 06:31 2025-05-22 UTC+2

How to Trade the EUR/USD Pair on May 22? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair continued its upward movement calmly and steadily. The price broke through the 1.1267 level, which

Paolo Greco 06:31 2025-05-22 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 22: The Pound Breaks Through Key Levels

The GBP/USD currency pair also resumed its upward movement on Wednesday. The rise of the British pound, which in reality still reflects the fall of the US dollar, began overnight

Paolo Greco 03:30 2025-05-22 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 22: Reasons Don't Matter and Aren't Needed

The EUR/USD currency pair resumed its upward movement on Wednesday, and it is now safe to say that the uptrend is present not only in the hourly timeframe but also

Paolo Greco 03:30 2025-05-22 UTC+2

How to Trade the GBP/USD Pair on May 21? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair mainly traded sideways on Tuesday, but early Wednesday morning it surged upward. On the 4-hour timeframe, it's clear that

Paolo Greco 06:17 2025-05-21 UTC+2

How to Trade the EUR/USD Pair on May 21? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair traded sideways, but it resumed its upward movement early Wednesday morning. This indicates that the ongoing

Paolo Greco 06:17 2025-05-21 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.