Technical Analysis of EUR/USD Trading on November 25th
On Monday (November 25th), the EUR/USD was trading around 1.0480 in the European session. Fundamentally, the US dollar index has continued to rise due to risk aversion, reaching a new high since 2023 last week.
At the same time, the expectation of the Federal Reserve's interest rate cut in December has slowed down, supporting the US dollar and putting pressure on non US markets to decline. However, it should be noted that there is currently more emotional trading in the fundamentals, so we are waiting for the US economic data and the minutes of the Federal Reserve meeting this week to make our direction choices.
Beware of the fading of risk aversion sentiment, the US dollar returns to the range of volatility, and non US countries enter an upward correction mode.
From a technical perspective, after the EUR/USD accelerates to a new low, the deviation from the daily moving average is further amplified, and the daily KDJ indicator is severely oversold, mainly waiting for a rebound correction within the day. If the closing price of this trading day stabilizes at 1.0530, it is expected to form a divergence rebound, with support around 1.0330 below
EUR/USD daily chart
At the 4-hour level, it is currently only an oversold rebound, and the price has not yet broken through the 4-hour moving average pressure. In the short term, there is a possibility of a secondary retracement. If the retracement does not break the previous low point, it is expected to enter a low-level oscillation mode, with upper pressure around 1.0530 and lower support around 1.0400
EUR/USD 4-hour chart
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