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:

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:

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.