EURUSD Analysis 20.11.2018

The single currency of the European Union (EU) region rose during the US session, showing a rebound to its sixth lowest session since 27 January 2017 against the US dollar following developments and economic data that followed Monday on the economies of the Eurozone and the US economy. The meetings of the Euro group in Brussels.

The euro closed yesterday at 1.1452 after opening at 1.1411.

Today at the Asian session, the Euro opened at 1.1451 and there was little movement.

Technical analysis:

The EUR / USD pair is trading positively with attempts to break through 1.1443, which signals the direction of the price to achieve further gains in the coming period, but needs to get a daily close above it to confirm the continuation of the bullish trend towards 1.1550 as the next positive stop, noting that SMA 50 Is a negative barrier to the attempts of the current price to rise as the price is trading between the moving average 20 and the moving average 50.

We note that the Stochastic is trading in the overbought area, which may give the price more upside as it does not give any bearish signals.

Support and resistance:

Support: 1.1420-1.1360-1.1310

Resistance: 1.1500-1.1550-1.1600

The general trend of neutral trading is waiting for confirmation of any upcoming movement.