forex analysis soegee

What is Forex Analysis?

Forex analysis is the study of determining whether to buy, sell or wait to trade a currency pair. Currencies traded in pairs, with exchange rates based on the price of one currency relative to another, for example USDEUR = USD Vs Euro

SUMMARY

  • AstraZeneca said that the COVID-19 vaccine is about 90% effective and will be prepared for delivery
  • Risk-sensitive currencies strengthened on Tuesday as investors breathed more relief after US President Donald Trump accepted the start of a transition to the Biden administration, which is expected to include former Federal Reserve Chair Janet Yellen as Treasury Secretary
  • Technically, the USD has been at the bottom for the last three months, yesterday’s movement was far from long correction, strong support areas (Euro, Pound and Aussie) became a signal, resistance areas (Yen and Swiss Franc) were a signal of weakness

EUR / USD Analysis

The 1.1854 area (MA5 & 15) is a signal for the strengthening of the Euro, if it breaks and closes above the 1.1880 area, the target is to the 1.1919 area, on the other hand the 1.1838 area will be a signal for the weakening of the Euro if it breaks and closes below 1.1811, the target is the 1.1985 area. Buy levels : 1.1765-1.1793 Cutloss : 1.1730, Sell levels : 1.1845-1.1888 Cutloss : 1.1909

Daily Forex Analysis November 24,  2020
Strong Support : 1.1831
Strong Resistance : 1.1880

GBP / USD Analysis

The 1.3312 area is a signal for the weakening of the pound, closing below the 1.3290 area target to the 1.3253 area, conversely the 1.3370 area is a signal of strengthening Pound. Buy levels : 1.3172-1.3195 Cutloss : 1.3141, Sell levels : 1.3333-1.3363 Cutloss : 1.3393

Daily Forex Analysis November 24,  2020
Strong Support : 1.3212
Strong Resistance :
1.3370

AUDUSD Analysis

The 0.7299 area (MA5 & 25) is a sign of the weakening of the Aussie, closing H4 below the 0.7293 target area to the 0.7265 area, otherwise the 0.7338 area is a signal of strengthening Aussie, closing above the 0.7338 area target to the 0.7380 area. Buy levels : 0.7260-0.7280 Cutloss : 0.7222, Sell levels : 0.7295-0.7333 Cutloss : 0.7374

forex analysis november 2020
Strong Support : 0.7310
Strong Resistance : 0.7338

USDJPY Analysis

The 50% Fibonacci chart area H4 104.41 (MA100 & 125) is a signal area for the strengthening of the Yen, if it breaks and closes below the 104.12 target to the 103.90 area, on the other hand, the 104.71 area signals a weakening of the Yen, closing above that area targets the 105.08 area. Buy levels : 104.25-104.40 Cutloss : 103.95, Sell levels : 104.89-105.19 Cutloss : 105.45

forex technical analysis 24 november 2020
Strong Support : 104.00
Strong Resistance : 104.71

USDCHF Analysis

The 0.9140 area is a signal of the weakening of the Swiss Franc, closing above the 0.9140 area to the 0.9191 target area, conversely the 0.9085 area becomes a signal of strengthening, if the closing area is below the 0.9060 area the target is the 0.9030 area. Buy levels : 0.9090-0.9120 Cutloss : 0.9060, Sell levels : 0.9156-0.9188 Cutloss : 0.9212

Daily Forex Analysis November 24,  2020
Strong Support : 0.9085
Strong Resistance : 0.9110

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