empty
14.11.2023 07:10 AM
Trading plan for EURUSD on November 14, 2023

This image is no longer relevant

Technical outlook:

EUR/USD might have completed a potential triangle consolidation after dropping through 1.0670 on Monday. The single currency rallied thereafter and extended its intraday gains through the 1.0700-10 range before pulling back. The instrument is seen to be trading close to 1.0696 at this point in writing and ready for the next leg higher towards 1.0750.

EUR/USD could find strong support around the 1.0600-10 zone if prices break below 1.0670 from here, which looks less probable. A push above 1.0720 would confirm that a triangle consolidation is complete and the bulls are now targetting 1.0850 going forward. Immediate price support over the medium term is seen towards 1.0500.

EUR/USD has reached the 1.0755 high over the last week, which is the Fibonacci 0.382 retracement of the entire drop between 1.1275 and 1.0450. If a bottom is carved around the 1.0670-80 area, the next leg higher is ideally seen towards 1.0850 and up to 1.0930 levels respectively. Only a break below 1.0500 would confirm that the bears are back in control.

Trading idea:

A potential rally towards 1.0850 to resume soon against 1.0500

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Pair on March 26? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair traded with a slight increase, but the overall movement of recent weeks increasingly resembles a flat market

Paolo Greco 05:55 2025-03-26 UTC+2

How to Trade the EUR/USD Pair on March 26? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued its weak downward movement. This is visible on any illustration of any timeframe, after

Paolo Greco 05:55 2025-03-26 UTC+2

Trading Recommendations and Analysis for GBP/USD on March 26: The Pound Continues to Swing

The GBP/USD currency pair showed growth again on Tuesday. "Again," because recently, all movements of the British currency resemble a "swing" or a "roller coaster" – first up, then down

Paolo Greco 02:40 2025-03-26 UTC+2

Trading Recommendations and Analysis for EUR/USD on March 26: The Euro Continues Its Sluggish Decline

The EUR/USD currency pair traded with only minimal gains on Tuesday, but the overall trend on the hourly timeframe remains bearish following the price's exit from the ascending channel

Paolo Greco 02:40 2025-03-26 UTC+2

GBP/USD: Trading Plan for the U.S. Session on March 25th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.2948 level and planned to make trading decisions from it. Let's look at the 5-minute chart and see what happened

Miroslaw Bawulski 18:15 2025-03-25 UTC+2

EUR/USD: Trading Plan for the U.S. Session on March 25th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.0779 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and examine what happened there

Miroslaw Bawulski 18:13 2025-03-25 UTC+2

How to Trade the EUR/USD Pair on March 25? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD The EUR/USD currency pair continued its weak downward movement on Monday. The dollar failed to show any significant gains

Paolo Greco 06:29 2025-03-25 UTC+2

How to Trade the GBP/USD Pair on March 25? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD The GBP/USD pair traded both up and down on Monday. The uptrend remains intact thanks to the ascending trendline, which has been

Paolo Greco 06:29 2025-03-25 UTC+2

Trading Recommendations and Analysis for GBP/USD on March 25: The Roller Coaster Continues

The GBP/USD currency pair managed to move both upward and downward on Monday. We can't say that these movements were triggered by macroeconomic data, because they weren't. The UK's business

Paolo Greco 02:41 2025-03-25 UTC+2

Trading Recommendations and Analysis for EUR/USD on March 25: The Dollar Strengthened Against the Odds

On Monday, the EUR/USD currency pair initially showed an upward move, followed by a decline, making the entire trading day somewhat contradictory. Volatility remained low despite the release

Paolo Greco 02:41 2025-03-25 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.