Technical Analysis
20.11.2020, 12:09

EUR / USD is trading above MA (200) H1

Today, the EUR / USD pair is trading in the range of $1.1850-90 and remains above the moving average line MA (200) H1 ($1.1835). On the four-hour chart, the pair is trading above MA (200) H4 ($1.1785). A strong resistance level of $1.1895 is still keeping EUR / USD from further growth. If it breaks through, the pair may rise to $1.1920. The session low of $1.1850 represents the support level. If this level is passed, the pair may follow a correction to $1.1815. The most likely range of movement of the pair today can be hidden within the range of $1.1850-95.

Resistance levels are at: $1.1895, $1.1920, $1.1965

Support levels are at: $1.1850, $1.1815, $1.1745

The main scenario for promoting the pair  - breakout of the resistance  $1.1895 (November 17 -18 high) and maybe the pair's growth to $1.1920 (November 9 high)

An alternative scenario -if the session low of $1.1850 and MA (200) H1 ($1.1835) are broken, the pair is likely to decline to $1.1815 (November 16 and 19 low)

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