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26 November 2021, EUR/USD

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Technical observation

Last week EUR went down with a big red candle same as this week it has been declining further and expect it to close bearish. Next week I expect possible bullish movements to the zone 1.1511-1.1469 followed by a rejection it. However, I would advise that you wait for a second retracement to the same zone then sell this pair within it with your take profit at 1.0813 and stop loss at 1.1754. In case of a clear penetration below the key level 1.0813 with a big red candle, you can anticipate a further surge to the lower side. On the other hand if price is not sustained below the zone mentioned above bullish movements of price can be expected.

Trade recommendation

Wait for a correction to the zone 1.1511-1.1469 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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