Wednesday, November 25, 2020 6:20 AM EDT
The euro currency managed to recover from the declines on Monday. Price action made a quick recovery after testing the lower support near 1.1800.
However, the upside gains are stalling near the trend line. This could keep price action contained for the moment.
Only a strong breakout above the trend line will see further gains coming.
But the resistance level of 1.1900 is also weighing on the common currency.
As a result, we could expect the EURUSD to hold on to its sideways range for the moment between 1.1900 and 1.1800.
Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). ...
more
Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). Orbex LIMITED is licensed to provide Investment Services (Reception & Transmission, Execution and Dealing on own account) and Ancillary Services.
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, the level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
less
How did you like this article? Let us know so we can better customize your reading experience.