FX.co ★ Trading Signal for EUR/USD for November 26 - 27, 2020: Sell Below 1.1915

EUR/USD has formed a descending triangle, this pattern indicates that there may be a bearish movement of the pair for the next few hours.

This morning of the American session, it is trading below the EMA 21 around 1.1916, a key area, because below this level we can sell this pair.

On the other hand, it is likely that there will be a pullback towards that area of the 21-period moving average, if it fails to stay above this level, our recommendation is that you can sell this pair with targets at the 200-day Ema (magenta color).

The eagle indicator is showing a bearish signal after having touched the 95 zone, an overbought zone, and it is likely that there will be a bearish continuation of the euro in the next few hours.

Analyzing the dollar index we note that since the European session it has recovered from the lows of 91.80 and has a bullish force, which could weaken the euro and take it to the support zone of 1.1840 (2/8 of murray).

Market sentiment for this morning of Thursday, November 26, shows that there are 70% of investors who are selling this pair, this represents a decrease compared to yesterday, which is likely to be a downward correction for the next few hours.

Therefore, we recommend that you sell this pair, below 1.1915, targeting 1.1870 (200 EMA) and 1.1840 (2/8 murray).