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Technical analysis

EURUSD Struggling for Intraday Direction

OctaFx | Nov. 22, 2018
EURUSD Struggling for Intraday Direction

November 22, OctaFX – The euro is currently struggling to find an intraday directional bias against the US dollar, as the Italian budget issue and Brexit negotiations create uncertainty for traders and investors.

The EURUSD pair is also suffering from low trading volumes, as the United States is observing Thanksgiving Holiday. Overall, a clear break from the 1.1355 to 1.1470 price range is currently needed before a short-term trend can once again be established.

EURUSD Technical Analysis

  • The EURUSD pair is only bearish while trading below the 1.1355 level, key technical support is found at the 1.1330 and 1.1300 levels.
  • If the EURUSD pair trades above the 1.1470 level, key technical resistance is found at the 1.1500 and 1.1553 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.