empty
09.11.2023 10:15 AM
Technical Analysis of EUR/USD for November 9, 2023

Technical Market Outlook:

The EUR/USD pair has bounced from the technical support located at the level of 1.0668 after the pull back had been terminated. The nearest technical resistance is located at the level of 1.0757 and the intraday technical support is still seen at the level of 1.0668. In a case of a breakout lower, the next target for bears is seen at the level of 1.0649 (the intraday trend line support) and 1.0615. The momentum is now strong and positive, so the market is ready to continue the up move. The next target is the swing high located at the level of 1.0757.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.1043

WR2 - 1.0895

WR1 - 1.0813

Weekly Pivot - 1.0665

WS1 - 1.0583

WS2 - 1.0435

WS3 - 1.0353

Trading Outlook:

Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle was terminated at the level of 1.1286 which is 61% Fibonacci retracement level and the market reversed lower. The intermediate down move is 17 weeks long now, but just recently the market started an internal upwards correction. The key weekly technical resistance is seen at the level of 1.0829. The RSI 14) indicator has just come back to the level of fifty.

Summary
Urgency
Analytic
Sebastian Seliga
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

Trading Signals for GOLD for August 15-19, 2025: sell below $3,365 (200 EMA - 21 SMA)

If gold consolidates below the 200EMA at 3,350 in the coming hours, any technical rebound will be seen as a signal to sell, with targets at 2/8 of the Murray

Dimitrios Zappas 14:54 2025-08-15 UTC+2

Trading Signals for BITCOIN for August 15-19, 2025: sell below $120,000 (6/8 Murray - 21 SMA)

If Bitcoin consolidates above the 6/8 Murray level at 118,750, which has now become key support, in the coming hours, we could expect it to reach $120,000, a level that

Dimitrios Zappas 14:52 2025-08-15 UTC+2

USD/JPY. Analysis, Forecast, and Current Market Situation

From a technical perspective, yesterday's strong rebound in USD/JPY from the 146.20 level stalled at the round figure of 148.00. Sustained gains above this level could lead to a move

Irina Yanina 13:55 2025-08-15 UTC+2

Forecast for EUR/USD on August 15, 2025

On Thursday, EUR/USD returned to the support zone at 1.1637–1.1645, but the bears failed to push further. A rebound from this zone would favor the euro and a resumption

Samir Klishi 12:37 2025-08-15 UTC+2

Forecast for GBP/USD on August 15, 2025

On the hourly chart, GBP/USD on Thursday rebounded from the 100.0% retracement level at 1.3586, turned in favor of the U.S. dollar, and saw a modest decline toward the 76.4%

Samir Klishi 12:31 2025-08-15 UTC+2

GBP/USD. Indicator Analysis on August 15, 2025

On Thursday, the pair moved downward, tested the 85.4% retracement level at 1.3522 (red dotted line), and closed the daily candle at 1.3526. Today, the pair may start moving upward

Stefan Doll 11:33 2025-08-15 UTC+2

EUR/USD. Indicator Analysis on August 15, 2025

On Thursday, the pair moved down, tested the 21-period EMA at 1.1632 (thin black line), and then moved upward, closing the daily candle at 1.1646. Today, the pair may begin

Stefan Doll 11:25 2025-08-15 UTC+2

Forex forecast 14/08/2025: EUR/USD, USD/JPY, GBP/USD, AUD/USD, 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 09:07 2025-08-15 UTC+2

GBP/USD Forecast for August 15, 2025

Yesterday's U.S. producer inflation data for July showed a sharp jump: 0.9% for the month and 3.3% y/y versus 2.4% y/y the previous month. The probability of a September Federal

Laurie Bailey 05:01 2025-08-15 UTC+2

EUR/USD Forecast for August 15, 2025

The euro has now reached Fibonacci time line No. 8 — and it has arrived with a pessimistic mood. Yesterday, the support level at 1.1632 was tested, and the Marlin

Laurie Bailey 05:01 2025-08-15 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.