empty
30.11.2023 10:35 AM
Technical Analysis of EUR/USD for November 30, 2023

Technical Market Outlook:

The EUR/USD pair has made a new weekly high at the level of 1.1018 and then pulled-back below the short-term trend line support. The local low was made at the level of 1.0941 (at the time of writing the analysis). The intraday technical support seen at the level of 1.0943 and the intraday technical resistance is located at 1.0963. Key short-term technical support rests at 1.0825 and only a sustained breakout above this level would change the outlook to more bearish. The momentum on the H4 time frame chart s coming off the extremely overbought area, so the bulls are temporary in control of the market and this will change when the RSI will break below the level of fifty. The larger time frame trend remains up and the next target for bulls is seen at WR3 located at 1.1099.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.1099

WR2 - 1.1033

WR1 - 1.0986

Weekly Pivot - 1.0920

WS1 - 1.0873

WS2 - 1.0807

WS3 - 1.0760

Trading Outlook:

The EUR/USD market rebounded from the weekly swing low at 1.0449, persistently ascending within the ongoing counter-trend corrective cycle. Bulls are eyeing the next target at the 61% Fibonacci retracement of the recent weekly downtrend, positioned at 1.0963. A breakout above this level and a weekly close would serve as the initial signal for a potential long-term trend reversal in favor of the Euro.

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

Trading Signals for GOLD (XAU/USD) for April 10-12, 2025: sell below $3,145 (21 SMA - 8/8 Murray)

The Eagle indicator is reaching oversold levels and is giving a negative signal, so we will look for opportunities to sell below 3,145 or below 3,131 with a target

Dimitrios Zappas 15:37 2025-04-10 UTC+2

EUR/USD. April 10. Trump Continues to Shake the Markets

On Wednesday, the EUR/USD pair made two rebounds from the resistance zone of 1.1081–1.1095, turned in favor of the U.S. dollar, and declined toward the support zone of 1.0944–1.0957

Samir Klishi 12:19 2025-04-10 UTC+2

Forecast for GBP/USD on April 10, 2025

On the hourly chart, the GBP/USD pair rebounded from the 1.2865 level on Wednesday, experienced a slight decline, and today returned to that same level. Another rebound from this level

Samir Klishi 12:12 2025-04-10 UTC+2

Forex forecast 10/04/2025: EUR/USD, SP500, NASDAQ, Dow Jones, USDX and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:35 2025-04-10 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday April 10, 2025.

From what is visible on the 4-hour chart of the Nasdaq 100 index, although there is currently a strengthening in #NDX, this is confirmed by its price movement moving above

Arief Makmur 10:14 2025-04-10 UTC+2

Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Thursday April 10, 2025.

On the daily chart, the exotic currency pair USD/IDR appears to have a fairly strong Bullish bias, which is indicated by its price movement moving above its EMA (21)

Arief Makmur 10:14 2025-04-10 UTC+2

USD/JPY: Slowing Inflation in the U.S. Could Pressure the Pair

The Japanese yen fell significantly the day before on unexpected news of a 90-day pause in trade wars. This development supported the dollar, but whether its growth will continue remains

Pati Gani 09:56 2025-04-10 UTC+2

EUR/USD Forecast for April 10, 2025

Yesterday, U.S. President Donald Trump lowered tariffs to 10% for 90 days for countries that did not retaliate to the initial U.S. tariffs (more than 75 in total). Meanwhile, tariffs

Laurie Bailey 05:08 2025-04-10 UTC+2

GBP/USD Forecast for April 10, 2025

On Wednesday, the British pound fully worked through the target range of 1.2816/47, but as expected, it failed to consolidate above that range, instead entering a consolidation phase around this

Laurie Bailey 05:08 2025-04-10 UTC+2

USD/JPY Forecast for April 10, 2025

Yesterday's heightened volatility in USD/JPY failed to change the bearish sentiment—the candle body never closed above the balance line. This morning's decline nearly engulfed yesterday's white candle. The price

Laurie Bailey 05:08 2025-04-10 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.