Yesterday, the EUR/USD traded lower and closed the day in the red zone around the price of 1.0695. Today, the pair traded in a narrow range of 1.0685–00, remaining close to yesterday's closing price. On the hourly chart, EUR/USD trades above the moving average lines MA (200) and H1 (1.0630). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading, and while the pair remains above the MA 200 H1, you may need to look for entry points to buy when a correction is formed.
The main scenario is probably a resumption of growth to 1.0710 (the high of the European session on November 7).
The alternative scenario involves consolidation below MA 200 H1, followed by a decline to 1.0515 (November 1 low).
- Resistance levels are at 1.0710, 1.0755–65, and 1.0800–10.
- Support levels are at 1.0665, 1.0640, and 1.0620.
The main scenario is probably a resumption of growth to 1.0710 (the high of the European session on November 7).
The alternative scenario involves consolidation below MA 200 H1, followed by a decline to 1.0515 (November 1 low).
