21.11.201808:13 Forex Analysis & Reviews: Forecast for EUR / USD for November 21, 2018

Long-term review

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EUR / USD

On Tuesday, the Euro fell steadily from the technical resistances - the graphic trend line of the price channel and the indicator balance line on the daily graph. The data on construction in the USA for October came out at the level of expectations: the number of new housing bookmarks was 1.23 million and the number of permits issued for the construction of a new house was 1.26 million. More so, September data was revised upwards.

On the daily and four-hour charts , technical conditions are not yet fully in favor of the dollar; on the day it is the finding of the signal line of the Marlin oscillator above zero, on the four-hour scale, it is the finding of the price above the indicator lines. But probably, the price departure is below 1.1348 (Krusenstern line and 50% correction) is a matter of the near future. The purpose of the reduction is the Fibonacci reaction level 110.0% (1.1190). Next, we wait for the price to reach the subsequent price channel line in the 1.1110 area.

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