EUR/USD Analysis 19/11/20 – Trade Forex Online | Best Forex Broker | CFD Trading | CF Merchants

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November 18, 2020

GBP/USD Analysis

November 19, 2020

Oil And Gold

November 18, 2020

GBP/USD Analysis

November 19, 2020

Published by CF Merchants on November 19, 2020

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EUR/USD

EUR/USD is trading around 1.1850, marginally lower. ECB President Lagarde reiterated her commitment to monetary stimulus. AstraZeneca published promising results from its covid vaccine trial, while cases continue rising on both sides of the Atlantic.

EUR/USD consolidates near the day’s low, currently down 0.13% on a day around 1.1840, amid early Thursday. The pair’s latest losses could be traced to the break of an upward sloping trend line from November 04 as well as the fresh risk aversion wave taking clues from the coronavirus (COVID-19), Brexit and global angst versus China.

Considering the normal RSI conditions, backed by the clear break of the previous support line, EUR/USD sellers eye a 21-day SMA level of 1.1788 during the further declines. However, the 1.1800 can act as an intermediate halt.

EURUSD Support & Resistance Table – 19/11/2020

Support & Resistance	Level	Explanation
Resistance 2	1.1884	Daily R2
Resistance 1	1.1869	Daily R1
Support 1	1.1828	Daily S1
Support 2	1.1813	Daily S2

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