Main Quotes Calendar Forum
flag ★ Trading plan for EUR/USD on November 15, 2021

Forex Analysis:::2021-11-15T04:55:53

Trading plan for EUR/USD on November 15, 2021

Last week's decline of the EUR/USD pair was a strong impulse that exceeded the limits of the average move. This suggests that there is an 80% probability of continuing the downward impulse.

The current growth of this instrument should be used to find favorable prices to sell the instrument. An important pullback level is the 1.1494 mark. The probability to rise to this mark is 90%. This indicates that the search for a sell pattern should begin only after returning to this level. The determining resistance is the Weekly Control Zone of 1/2 1.1529-1.1521.

All of the above makes the area of 1.1494-1.1529 a supply zone. The upward movement of the EUR/USD pair to these levels will give us an opportunity to sell the instrument at favorable prices.

Trading plan for EUR/USD on November 15, 2021

It is not profitable to make corrective purchases since the probability of updating the monthly low is above 80%. Any resistance level can be decisive. A bearish impulse is a strong movement that will take 3 to 5 days to break.

Analyst InstaForex
Share this article:
You have watched all the best publications
We are already looking for something interesting for you...
Recently published:
More recent publications...