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FX.co ★ Trading Signal for EUR/USD for November 26 - 27, 2020: Sell Below 1.1915

Trading Signal for EUR/USD for November 26 - 27, 2020: Sell Below 1.1915

Trading Signal for EUR/USD for November 26 - 27, 2020: Sell Below 1.1915

EUR/USD has formed a descending triangle, this pattern indicates that there may be a bearish movement of the pair for the next few hours.

This morning of the American session, it is trading below the EMA 21 around 1.1916, a key area, because below this level we can sell this pair.

On the other hand, it is likely that there will be a pullback towards that area of the 21-period moving average, if it fails to stay above this level, our recommendation is that you can sell this pair with targets at the 200-day Ema (magenta color).

The eagle indicator is showing a bearish signal after having touched the 95 zone, an overbought zone, and it is likely that there will be a bearish continuation of the euro in the next few hours.

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Analyzing the dollar index we note that since the European session it has recovered from the lows of 91.80 and has a bullish force, which could weaken the euro and take it to the support zone of 1.1840 (2/8 of murray).

Market sentiment for this morning of Thursday, November 26, shows that there are 70% of investors who are selling this pair, this represents a decrease compared to yesterday, which is likely to be a downward correction for the next few hours.

Therefore, we recommend that you sell this pair, below 1.1915, targeting 1.1870 (200 EMA) and 1.1840 (2/8 murray).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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