November 19, 2020 : EUR/USD daily technical review and trade recommendations.
Recently, Two opportunities for SELL Entries were offered upon the recent upside movement towards 1.1880-1.1900. All target levels were achieved.
Evident signs of bullish reversal were demonstrated around the recent price levels of 1.1600.
Shortly after, the EUR/USD pair has demonstrated a significant BUYING Pattern after the recent upside breakout above the depicted price zone (1.1750-1.1780) was achieved.
As mentioned in the previous article, the pair has targeted the price levels around 1.1920 which exerted considerable bearish pressure bringing the pair back towards 1.1800 which constituted a prominent KEY-Zone for the EUR/USD pair.
Recently, the price zone around 1.1840 was mentioned as a prominent KeyZone to be watched for Price Action.
The current bearish closure below which will probably trigger a quick bearish decline initially towards 1.1750.
Trade Recommendations :-
Currently, the price zone around 1.1840 stand as significant Resistance-Zone to offer a high probability SELL Entry. Exit level should be placed above 1.1860.
The material has been provided by InstaForex Company – www.instaforex.com