EUR/USD Technical Analysis | EUR/USD Trading: 2023-11-29 | IFCM UK
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EUR/USD Technical Analysis - EUR/USD Trading: 2023-11-29

EUR/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 1.1016

Buy Stop

Below 1.0895

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2425
RSI Sell
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

EUR/USD Chart Analysis

EUR/USD Chart Analysis

EUR/USD Technical Analysis

The technical analysis of the EURUSD price chart on daily timeframe shows EURUSD, D1 has hit three-month high above the 200-period moving average MA(200) following a rebound after falling to 11-month low eight weeks ago. RSI indicator is in overbought zone. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 1.1016. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.0865. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD

Germany’s consumer confidence recovered slightly in November. Will the EURUSD price rebound persist?

Germany’s consumer confidence recovered slightly in November: the GfK Institute reported German Consumer Climate index reached -27.8 in November from -28.3 in October, when an increase to -28.2 was forecast. Readings above 0 indicate optimism, below indicate pessimism. This is bullish for euro and hence the EURUSD currency pair.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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