empty
29.11.2023 10:56 PM
November 29, 2023 : EUR/USD Intraday technical analysis and trading plan.

This image is no longer relevant

Since March 2023, the EUR/USD pair has been following an uptrend line, reaching higher peaks around (1.1080 and 1.1260) and higher valleys around (1.0520 and 1.0650).

However, in July 2023, the pair failed to maintain its bullish momentum and bounced back from the resistance zone near 1.1270, falling below 1.1050.

The pair continued to decline and broke the uptrend line in August 2023, reaching the next target near 1.0450, where it found some previous demand levels.

This triggered another bullish wave that lasted for several weeks, pushing the pair towards the current level of 1.0990.

The pair is likely to keep rising until it hits 1.1050, where it may face either a short-term or a long-term bearish correction.

Therefore, selling the EUR/USD around 1.1050 (the backside of the broken uptrend line) could be a good opportunity, with Stop Loss Levels just above 1.1170. The expected bearish target levels are 1.0840 and 1.0670.

Summary
Urgency
Analytic
Mohamed Samy
Start trade
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

Forecast for EUR/USD on August 29, 2025

On Thursday, the EUR/USD pair rebounded from the 1.1637–1.1645 zone and continued its upward move, as I expected. The rebound from the 76.4% retracement level – 1.1695 worked in favor

Samir Klishi 12:42 2025-08-29 UTC+2

Forecast for GBP/USD on August 29, 2025

On the hourly chart, the GBP/USD pair on Thursday rebounded from the 76.4% retracement level – 1.3482, which allows it to continue rising toward the 100.0% Fibonacci level – 1.3586

Samir Klishi 12:32 2025-08-29 UTC+2

GBP/USD. Indicator Analysis on August 29, 2025

On Thursday, the pair moved upward to the 14.6% level at 1.3527 (yellow dotted line), then went down, closing the daily candle at 1.3508. Today, the pair may begin

Stefan Doll 12:26 2025-08-29 UTC+2

EUR/USD. Indicator Analysis on August 29, 2025

On Thursday, the pair moved upward, tested the retracement level of 76.4% – 1.1697 (yellow dotted line), and then moved down, closing the daily candle at 1.1682. Today, the pair

Stefan Doll 12:20 2025-08-29 UTC+2

Forex forecast 29/08/2025: EUR/USD, GBP/USD, USD/JPY, Gold, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:34 2025-08-29 UTC+2

Trading Signals for EUR/USD for August 29-30, 2025: sell below 1.1700 (200 EMA - 8/8 Murray)

Early in the European session, the euro is trading around 1.1657, undergoing a technical correction after reaching the 61.8% Fibonacci retracement. It is likely to continue falling in the coming

Dimitrios Zappas 07:36 2025-08-29 UTC+2

Trading Signals for Gold (XAU/USD) for August 29-31, 2025: sell below 3,417 (21 SMA - 7/8 Murray)

If gold consolidates below the 21SMA at 3,409 in the next few hours, it will be seen as a clear signal to sell, with targets at 3,398 and the 5/8

Dimitrios Zappas 07:35 2025-08-29 UTC+2

EUR/USD Forecast for August 29, 2025

On Thursday, the euro rose by 45 pips. Formally, this rise can be seen as a continued risk-on move (S&P 500 +0.32%), but we are more inclined to interpret

Laurie Bailey 04:48 2025-08-29 UTC+2

GBP/USD Forecast for August 29, 2025

The British pound, once again after the 22nd, reached the target resistance at 1.3525. This level is strong because indicator lines on lower timeframes have approached it, so the pair

Laurie Bailey 04:48 2025-08-29 UTC+2

Trading Signals for Gold (XAU/USD) for August 28-31, 2025: sell below 3,409 (21 SMA - 7/8 Murray)

Early in the American session, gold is trading around 3,409, above the 6/8 Murray level, with the possibility of a continuation of the bullish move that could reach the 7/8

Dimitrios Zappas 17:42 2025-08-28 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.