Technical analysis

Technical analysis

01 December 2020
  • 13:08

    EUR/USD remains above MA 200 H1

    Yesterday, the EUR/USD was trading lower and closed the day in the red around the $1.1925. Today it rallied slightly, rising to $1.1955. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1895). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

    • Resistances levels are at: $1.2000, $1.2100, $1.2200

    • Support levels are at: $1.1915, $1.1885, $1.1840

    Probably, the main scenario - is continued growth towards $1.2000 (Nov 30 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a drop to $1.1800 (Nov 23 low).

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