29.11.201808:54 Forex Analysis & Reviews: Technical analysis for EUR/USD for November 29, 2018

Long-term review

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EUR/USD bounced strongly yesterday breaking short-term resistance levels and putting bulls back in the game. However neither bulls nor bears are in control of the trend. As long as price is trading between 1.1410 and 1.1270 trend will be neutral.

Red line - resistance trend line

Green line - support trend line

EUR/USD is challenging the 4-hour Kumo. Trend is neutral. Resistance is found at 1.1410 and support at 1.1340. Most important support level is at 1.1270. However if prices get rejected at current levels and fall below 1.1340, then I would expect 1.1270 to at least be tested if not broken. Breaking below 1.1270 will open the way for 1.11-1.10. Breaking above 1.1410 will open the way for a move towards 1.15-1.16.

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