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19.11.202111:28 Forex Analysis & Reviews: Trading tips for EUR/USD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 19.11.2021 analysis

EUR/USD bounced back after a strong weekly decline.

Exchange Rates 19.11.2021 analysis

And since there are three wave patterns in the pair (ABC) where wave A represents the buying pressure observed yesterday, traders can take long positions up to the 50% retracement level of 1.13150. Stop loss could be set at 1,12700, and take profit on the breakdown of 1.13900-1.14000.

This analysis is based on the Price Action and Stop Hunting strategies.

Good luck and have a nice day!

Andrey Shevchenko
Analytical expert of InstaForex
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