Source: PaxForex Premium Analytics Portal, Technical Insight
Eurozone: Sentix confidence index deteriorated less than forecast:
Eurozone: November, Sentix Investor Confidence Index -10.0 vs. previous year -8.3 and a forecast of -15.0;
Current situation estimate -32.3 vs. the previous -32.0;
Expectations index 15.3 vs. previous -18.8 - the lowest since May;
Sentix: New lockdowns have less impact on the economy than they feared. Expectations remain in the green zone.
EUR/USD, 30 min
Pivot: 1.1830
Analysis:
Provided that the currency pair is traded below 1.1860, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1830
- Take Profit 1: 1.1795
- Take Profit 2: 1.1760
Alternative scenario:
In case of breakout of the level 1.1860, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1860
- Take Profit 1: 1.1895
- Take Profit 2: 1.1920
Comment:
RSI is bearish and indicates a downtrend within a day.
Key levels:
Resistance | Support |
1.1920 | 1.1795 |
1.1895 | 1.1760 |
1.1860 | 1.1730 |
EUR/USD, D1
Pivot: 1.1678
Analysis:
While the price is above 1.1605, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1887
- Take Profit 1: 1.2015
- Take Profit 2: 1.2200
Alternative scenario:
If the level 1.1605 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1605
- Take Profit 1: 1.1450
- Take Profit 2: 1.1330
Comment:
RSI shows the development of an uptrend in a medium term.
Key levels:
Resistance | Support |
1.2345 | 1.1605 |
1.2200 | 1.1450 |
1.2015 | 1.1330 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD – buy above 1.2980 with 1.3065 and 1.3095 targets as Take Profit. Alternative scenario - if the level 1.2980 is broken-down, sell with the TP 1.2955 and 1.2925.
GBP/USD - long positions above 1.3145 with 1.3200 and 1.3235 targets as Take Profit. Alternative scenario - if the level of 1.3145 is broken-down, sell with the targets 1.3115 and 1.3090 as Take Profit.
AUD/USD – sell below 0.7055 with 0.6975 and 0.6955 as Take Profit targets. Alternative scenario - if the level of 0.7055 is broken-out, you should consider buying with the targets 0.7075 and 0.7095 as Take Profit.