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19.11.202415:57 Forex Analysis & Reviews: Trading Signals for EUR/USD for November 19-21, 2024: buy above 1.0540 (2/8 Murray - 21 SMA)

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Exchange Rates 19.11.2024 analysis

Early in the American session, the EUR/USD pair is trading around 1.0563, making a technical correction after having reached the level of 1.0605 yesterday during the American session.

On the H4 chart, we can see that the euro broke the bearish trend channel on November 15. Since then, we have seen a recovery of the instrument, which would confirm a bullish movement in the short term until reaching the 200 EMA around 1.0791.

If the euro consolidates above the 21 SMA located at 1.0554 in the next few hours, it will be seen as an opportunity to buy with targets at 3/8 Murray and 4/8 Murray.

Technically, the eagle indicator is giving a positive signal. So, we believe that as long as EUR/USD settles above 2/8 Murray in the coming days, located around 1.0498, any technical rebound will be seen as an opportunity to buy.

Dimitrios Zappas
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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