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Technical analysis

EURUSD Buyers Need to Defend 1.1300

OctaFx | Nov. 27, 2018
EURUSD Buyers Need to Defend 1.1300

November 27, OctaFX – The euro currency is back under pressure against the US dollar after being firmly rejected from its weekly pivot point on Monday.

EURUSD Technical Outlook

The bullish inverse head and shoulders pattern on the one-hour time frame remains valid, although buyers need to defend the 1.1300 support level. In the short-term, the 1.1330 level remains the key area to watch when trading the EURUSD pair.

  • The EURUSD pair is only intraday bullish while trading above the 1.1379 level, key technical resistance is found at the 1.1400 and 1.1470 levels.
  • If the EURUSD pair trades below the 1.1330 level, key technical support is found at the 1.1300 and 1.1216 levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.