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General EURUSD Chart Analysis

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In the analysis from the last week I said that the market does not look too bullish that would move the price easily up to $1.19000. The market overview shows just that.

The pip range this week was 80 pips and it means that the price was in the indecision area. The middle of the range area between $1.17000 and $1.19000 is still holding the price from large movements.

I am expecting the price will try to break above $1.19000, but before doing that it could make a pullback to the area between $1.18150 – $1.18200 which is the current support that held the price two times this week.

EURUSD Daily Forecast 21_11_2020.png
 
thank you much for your very simple chart to look at. btw I'm buying EU now - is it ok?
You are welcome.

I cannot tell you what to do. You should do your own analysis and make a decision based on that.

If the chart and analysis can help that is great. I am not a financial advisor so I cannot suggest what to do. Sorry.
 
The market week behind us has done a huge move forward. The price has done two things I have mentioned in the previous week forecast.

The price:

Made a pullback to $1.18150 – $1.18200 area
Bounced back above $1.19000

New highs for EURUSD are in this order.
First high is around $1.20800 where the price will probably stop and make a pullback. This level acted in the past as a strong resistance.

On the chart it is visible that the uptrend channel resistance line is making a confluence of resistance at that area together with the horizontal resistance line.
EURUSD Daily Forecast 28_11_2020.png
 

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