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

NZD/USD. Analysis and Forecast

Today the NZD/USD pair continues to attract buyers, though it still remains below the 0.6050 level. Oscillators across all timeframes are firmly in positive territory and far from overbought zones

Irina Yanina 12:03 2025-06-05 UTC+2

Forecast for EUR/USD on June 5, 2025

On Wednesday, the EUR/USD pair rebounded from the support zone of 1.1374–1.1380 and reversed in favor of the euro. A new upward move toward the 76.4% retracement level at 1.1454

Samir Klishi 11:22 2025-06-05 UTC+2

GBP/USD. June 5th. Labor Market Sends Negative Signals

On the hourly chart, the GBP/USD pair on Wednesday consolidated above the weak 161.8% retracement level at 1.3520. This consolidation allows for expectations of continued growth toward the next retracement

Samir Klishi 11:14 2025-06-05 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday June 05, 2025.

With the condition of the Stochastic Oscillator indicator at the Overbought level and a Divergence appears between the indicator and the Nasdaq 100 index price movement, so that

Arief Makmur 09:53 2025-06-05 UTC+2

Trading Signals for EUR/USD for June 5-9, 2025: sell below 1.1474 (21 SMA - 6/8 Murray)

The eagle indicator is showing a negative signal for the euro, suggesting a possible fall in the coming days. Therefore, our outlook remains bearish as long as the price consolidates

Dimitrios Zappas 06:38 2025-06-05 UTC+2

Trading Signals for GOLD (XAU/USD) for June 5-9, 2025: sell below $3,387 (21 SMA - 7/8 Murray)

On the other hand, if bullish strength prevails, we could expect a technical rebound around 3,355. This area has provided gold with a good rebounding point in the past

Dimitrios Zappas 06:36 2025-06-05 UTC+2

EUR/USD Forecast for June 5, 2025

After three days of struggle, the euro has broken through the 1.1420 resistance level. Now, the target at 1.1535 is open. A breakthrough above this level would allow the growth

Laurie Bailey 04:55 2025-06-05 UTC+2

GBP/USD Forecast for June 5, 2025

The British pound is climbing with such difficulty that it looks close to abandoning its plan to reach 1.3790 — the upper boundary of the price channel. The daily Marlin

Laurie Bailey 04:55 2025-06-05 UTC+2

Silver Forecast for June 5, 2025

After a strong move on June 2, the price formed a small triangular pattern over the following two days, with yesterday's candlestick closing at the opening level. This

Laurie Bailey 04:55 2025-06-05 UTC+2

GBP/JPY. Analysis and Forecast

The GBP/JPY pair continues to gain positive momentum for the second day in a row. From a technical standpoint, GBP/JPY has once again demonstrated resilience below the 200-day Simple Moving

Irina Yanina 14:05 2025-06-04 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.