empty
14.11.2023 07:10 AM
Trading plan for EURUSD on November 14, 2023

This image is no longer relevant

Technical outlook:

EUR/USD might have completed a potential triangle consolidation after dropping through 1.0670 on Monday. The single currency rallied thereafter and extended its intraday gains through the 1.0700-10 range before pulling back. The instrument is seen to be trading close to 1.0696 at this point in writing and ready for the next leg higher towards 1.0750.

EUR/USD could find strong support around the 1.0600-10 zone if prices break below 1.0670 from here, which looks less probable. A push above 1.0720 would confirm that a triangle consolidation is complete and the bulls are now targetting 1.0850 going forward. Immediate price support over the medium term is seen towards 1.0500.

EUR/USD has reached the 1.0755 high over the last week, which is the Fibonacci 0.382 retracement of the entire drop between 1.1275 and 1.0450. If a bottom is carved around the 1.0670-80 area, the next leg higher is ideally seen towards 1.0850 and up to 1.0930 levels respectively. Only a break below 1.0500 would confirm that the bears are back in control.

Trading idea:

A potential rally towards 1.0850 to resume soon against 1.0500

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

GBP/USD: Trading Plan for the U.S. Session on June 13th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3531 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened. A decline

Miroslaw Bawulski 12:37 2025-06-13 UTC+2

EUR/USD: Trading Plan for the U.S. Session on June 13th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.1556 level and planned to base market entry decisions on it. Let's look at the 5-minute chart and analyze what happened. A rise

Miroslaw Bawulski 12:31 2025-06-13 UTC+2

How to Trade the GBP/USD Pair on June 13? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair demonstrated a relatively strong upward movement, though the British pound did experience intraday declines. There were many

Paolo Greco 06:31 2025-06-13 UTC+2

How to Trade the EUR/USD Pair on June 13? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair on Thursday and during the night into Friday exhibited "American-style racing." Over the past two days, the U.S

Paolo Greco 06:31 2025-06-13 UTC+2

Trading Recommendations and Analysis for GBP/USD on June 13: Weak GDP Spoiled the Picture for the Pound.

On Thursday, the GBP/USD currency pair continued to move upward. However, somewhat surprisingly, the pound appreciated less this week than the euro. The British currency came under pressure first from

Paolo Greco 03:41 2025-06-13 UTC+2

Trading Recommendations and Analysis for EUR/USD on June 13: Trump Warns of Tariff Hikes

The EUR/USD currency pair continued its strong upward movement on Thursday, which began on Wednesday. A downward pullback started by the end of the day, but it was significantly weaker

Paolo Greco 03:40 2025-06-13 UTC+2

How to Trade the GBP/USD Pair on June 12? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair moved in a manner similar to the EUR/USD pair. The U.S. inflation report became a new driver

Paolo Greco 06:05 2025-06-12 UTC+2

How to Trade the EUR/USD Pair on June 12? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair resumed its upward trend, lasting more than four months. More precisely, it has continued since Donald

Paolo Greco 06:05 2025-06-12 UTC+2

Trading Recommendations and Analysis for GBP/USD on June 12: The Pound Finds a New Reason to Cheer

On Wednesday, the GBP/USD currency pair resumed its upward movement. As previously noted, the British currency currently has no valid reason to decline against the U.S. dollar—specifically, against the U.S

Paolo Greco 04:00 2025-06-12 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.