empty
 
 
03.11.2020 09:38 AM
Outlook for EUR/USD on 3 November 2020

This image is no longer relevant

The EUR/USD pair has started an upward correction, and the reversal attempt has taken place at the September swing low a key support level . Moreover, the Double Bottom is forming on the D1 chart . This is a common reversal pattern when a sell climax typically leads to profit-taking.

The pair failed to breach the support level of 1.1622 after two re-tests. However, the bulls are hoping that the reversal will grow in to a swing up since the price broke the descending channel and is aiming for the October high and then above the September high. The US election will begin today. Therefore, it is impossible to predict market behavior due to potential volatility. From a technical point of view, it is possible for EUR/USD to test the next resistance at 1.170.

Long positions of the EUR/USD pair have become relevant at the moment since the price has closed above the descending trend line but without a bullish impulsive move. Moreover, a bullish divergence is formed indicating an upcoming reversal of the downtrend .

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada April kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback