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FX.co ★ Forecast for EUR/USD on November 29, 2023

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Forex Analysis:::2023-11-29T03:29:32

Forecast for EUR/USD on November 29, 2023

EUR/USD

Yesterday, the euro rose and settled above the level of 1.0946 on the daily chart, approaching the target level of 1.1033. Despite all this, the signal line of the Marlin oscillator cannot return to its own rising channel.

Forecast for EUR/USD on November 29, 2023

A correction will likely occur from the nearest target (1.1033). If the situation with Marlin improves, the euro may reach the upper band of the price channel around the target resistance of 1.1096 (April peak).

Forecast for EUR/USD on November 29, 2023

On the 4-hour chart, yesterday, the price once again bounced off the MACD indicator line (blue) and continued to rise at an accelerated pace. The Marlin oscillator continues its stable upward movement. We expect the price to reach the nearest target level of 1.1033.

Analyst InstaForex
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