News

EUR/USD Technical Analysis: Euro ends November with a bounce near the 1.1000 handle

  • EUR/USD ends November with a failed bear breakout below the 1.1000 handle. 
  • The level to beat for bulls is the 1.1035 resistance in the medium term.
 

EUR/USD monthly chart

 
The Euro is ending November above the 1.1000 handle with the October’s range. The market is trading in a weak bear channel. 
 

EUR/USD weekly chart

 
The market is trading at six-week lows while trading below the main weekly SMAs. All-in-all maintaining an underlying bearish bias. 
 

EUR/USD daily chart

 
EUR/USD, on the daily time frame, is trading in a bear trend below the main daily simple moving averages (DMAs). However, the market is becoming increasingly choppy and a bounce from the 1.1000 handle appears more likely in the medium term. Resistances to the upside are seen at the 1.1035, 1.1047 and 1.1075 price levels, according to the Technical Confluences Indicator. 
  
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.