15.11.202405:13 Forex Analysis & Reviews: Forecast for EUR/USD on November 15, 2024

Relevance up to 22:00 2024-11-15 UTC--5

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.

The euro is ahead of schedule, nearing the price channel lines on the weekly chart. A corrective rebound may occur from the red channel line (1.0420) or the green channel line (1.0385).

On the daily chart, the price is approaching the target range of 1.0449/83 (the October 2023 low). Successfully breaking through this range will unlock targets on the weekly chart. The Marlin oscillator on the daily chart is already deep enough to slow the price's decline but has not yet entered the oversold zone. A battle seems to be shaping up near the target range.

On the four-hour chart, the Marlin oscillator's wedge has undergone another modification, maintaining the potential for a downward breakout. In the long term, the wedge may evolve into a range—broad sideways movement. For now, we anticipate the price to reach the 1.0449/83 target range.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.