CloseOption Knowledgebase

An overview of the EUR/USD status on 15.11.2023 -An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

• First key support level of EUR/USD: 1.0783
• Second Key support level of EUR/USD: 1.0757
• Third Key support level of EUR/USD: 1.066464
• First key resistance level of EUR/USD: 1.088669
• Second Key resistance level of EUR/USD: 1.0947
• Third Key resistance level of EUR/USD: 1.1

• First key support level of USD/CHF: 0.885469
• Second Key support level of USD/CHF: 0.881614
• Third Key support level of USD/CHF: 0.878783
• First key resistance level of USD/CHF: 0.888768
• Second Key resistance level of USD/CHF: 0.895
• Third Key resistance level of USD/CHF: 0.9

• First key support level of GBP/USD: 1.240302
• Second Key support level of GBP/USD: 1.238101
• Third Key support level of GBP/USD: 1.230884
• First key resistance level of GBP/USD: 1.245307
• Second Key resistance level of GBP/USD: 1.249885
• Third Key resistance level of GBP/USD: 1.259014

• First key support level of USD/JPY: 150.696
• Second Key support level of USD/JPY: 150.152
• Third Key support level of USD/JPY: 149.339
• First key resistance level of USD/JPY: 151.217
• Second Key resistance level of USD/JPY: 151.7
• Third Key resistance level of USD/JPY: 152

 

An overview of the EUR/USD status on 15.11.2023

As noted in the previous analysis of EUR/USD on 19.10.2023, the price was predicted to increase. The trend has now been successfully reversed from downward to upward by buyers. During the substantial rise of the previous day, buyers have obtained the highest price level of 1.08878 so far.

There is no apparent reason for the currency pair’s price reduction in long-term intervals like monthly and weekly. If the current resistance level is broken, the price may rise further and reach the target of 1.09600. After that, it has the potential to reach up to 1.10100.

In shorter timeframes, such as daily and 4-hour charts, the recent significant price increase and some buyers’ departure from their trades have weakened the trend slightly and caused a correction.

Based on the price movements observed between the price floor of 1.04491 and the price ceiling of 1.08878, there is a harmonic pattern of AB = CD type with ratios of 61.8 and 161.8. This indicates a potential for a decrease in price as point D is formed.

Due to the strong rise of the price on the previous day and the fact that the price is entirely oversold in the 4-hour period, there will be a potential to correct the upward trend.

In this regard, the price will potentially decrease to the level of 1.08000 and, in a more severe form, up to 1.07600 (The price floor breaking at 1.08452 signals the need for correction and price reduction).

 

CloseOption Team

www.closeoption.com

Join Us to Learn How to Succeed in Your Trading person_addRegister

Related Posts

An Overview of Bitcoin Status on 28/02/2024

An Overview of Bitcoin Status on 28/02/2024

An Overview of Bitcoin Status on 28/02/2024 – An overview of important support and resistance levels of the four major currency pairs of the ongoing week. • First key support level of EUR/USD: 1.07969 • Second Key support level of EUR/USD: 1.07223 • Third Key support level of EUR/USD: 1.06310 • First key resistance level …

Bitcoin – Ascend or Descend?!

Bitcoin – Ascend or Descend?!

Bitcoin – Ascend or Descend?!- An overview of important support and resistance levels of the four major currency pairs of the ongoing week. • First key support level of EUR/USD: 1.07617 • Second Key support level of EUR/USD: 1.072363 • Third Key support level of EUR/USD: 1.063614 • First key resistance level of EUR/USD: 1.082795 …

An Overview of the EUR/USD Status on 14/02/2024

An Overview of the EUR/USD Status on 14/02/2024

An Overview of the EUR/USD Status on 14/02/2024.An overview of important support and resistance levels of the four major currency pairs of the ongoing week. • First key support level of EUR/USD: 1.06983 • Second Key support level of EUR/USD: 1.06655 • Third Key support level of EUR/USD: 1.06351 • First key resistance level of …

An Overview of the Bitcoin Status on 06/02/2024

An Overview of the Bitcoin Status on 06/02/2024

An Overview of the Bitcoin Status on 06/02/2024 – An overview of important support and resistance levels of the four major currency pairs of the ongoing week.   • First key support level of EUR/USD: 1.0723 • Second Key support level of EUR/USD: 1.0638 • Third Key support level of EUR/USD: 1.0515 • First key …

Add your Comment

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comments