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EUR/USD: Technical Analysis | November 20, 2020




EUR/USD: Technical Analysis | November 20, 2020

  • Update Time : Friday, November 20, 2020
  • 40 Time View
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EUR/USD: Technical Analysis | November 20, 2020
EUR/USD: Technical Analysis | November 20, 2020

MarketDeal24.Com – The euro closed at a low of 1.1816 on Thursday against the US dollar and created a hammer candle stick signal.

In the weekly time frame, demand for the EUR/USD pair continued to rise from the support of 1.1621 in early November and buyers came to the market to try to move the price to the 2016 opening level of 1.2004, followed by Quasimodo Resistance 1.2092.

The Daily Time Frame recently created a bullish candle stick. The daily chart has resistance at 1.1940, followed by Quasimodo resistance at 1.1965.

The pair found support around 1.1820 yesterday in a four-hour time frame. Quasimodo resistance will target 1.1895 and 1.19 handles if the price rises today. On the other hand, if the price falls and breaks 1.18, the price may go to Quasimodo support 1.1779.

Important Things To Consider:

  • The target level in the market today is 1.18. Below this round number is the sell stop liquidity.
  • Prices could go up to 1.1895 and 1.19 in the four hour time frame today, although there is a possibility of selling from this area.
  • A four-hour time frame is likely to have a breakout buy above 1.19, in which case the price will target September opening 1.1937.

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