Technical analysis of EUR/USD 06/11/2021

EUR/USD currency pair within the uptrend is in a narrow corridor between the support 1.2140 (MA200) and the resistance 1.2200 (MA100), trading in the area of 1.2170 on the 4H timeframe.
If the pair manages to break through the support 1.2140 (MA200), it will mean the development of a downward correction to the next nearest support level 1.2100.
If quotes go above 1.2200 (MA100), it will mean a continuation of the development of an uptrend towards the nearest target in the area of the May highs of 1.2260.
Created by Joshua Hayn

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
5.0 out of 5 based on 1 rating

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>