EUR/USD exceeded weekly R1 - Technical Analysis - Dukascopy Bank

Mon, 23 Nov 2020 12:19:49 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs41%41%0.7%
Shorts59%59%-0.5%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

During Monday morning hours, the EUR/USD currency pair exceeded the weekly R1 at 1.1898.

It is likely that the exchange rate could gain support from the given level and continue to trade upwards. In this case the rate could face the resistance level formed by the weekly R2 at 1.1936.

Otherwise, a reversal south could occur, and the currency pair could decline to the support formed by the 55– and 100-hour moving averages, as well the weekly PP in the 1.1860 area.


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