Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Basin Energy
Altech Batteries LtdCERENERGY Battery 46.7M Euro German Grant...
Altech – CERENERGY Battery 46.7M Euro German Grant...
Locksley Resources LimitedStrengthens Leadership to Accelerate Growth Strategy
Earthwise Advertising & Investor Awareness Campaign
Commencement of Henbury Field Program
RCM to Acquire Webbs Consol Silver Project from...
Earthwise Advertising & Investor Awareness Campaign
Crypto Market Update: Stablecoins Top US$283 Billion in...
Tech 5: NVIDIA Results Rattle Investors, Trump Signals...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

EUR/USD & EUR/GBP: Key Support Levels Under Pressure

by admin November 13, 2024
November 13, 2024
EUR/USD & EUR/GBP: Key Support Levels Under Pressure

Overall Analysis

  • EUR/USD: After breaking the upward channel, the pair continues to fall but is now facing support at the 1.06839 level.
  • EUR/GBP: The pair failed to sustain higher levels. The price fell sharply and is currently near intraday resistance.

EUR/USD Chart Analysis

EUR/USD 15-Minute Chart (Source: TradingView)

On the 8th of November 2024 trading session, the EUR/USD pair closed at -0.88% after sustaining a sideways scenario during the first half and then falling sharply towards support in the second half of the session.

Currently, on the daily time frame, the price attempted to move upward but faced rejection and fell sharply toward the support level. The 1.06827 level serves as a crucial support area, and a price close below this level could trigger massive selling.

On the 15-minute time frame, the price can be seen retesting the 1.06874 level repeatedly. This is a crucial support level on both higher and lower time frames. If looking for an entry trigger, a few options are mentioned below:

  • Bullish Scenario: If the price again fails to close below the 1.06827 level, buyers may consider entering a trade with a stop loss below the previous swing low and a target at the 1.07213 level.
  • Bearish Scenario: If the price continues to close below the 1.06827 level, sellers may consider entering a trade with a stop loss above the previous swing high and targets at 1.06518 and 1.06271 levels. Ensure the RSI is not in an oversold scenario.

EUR/GBP Chart Analysis

EUR/GBP 15-Minute Chart (Source: TradingView)

On the 8th of November 2024 trading session, the pair showed selling pressure within the channel while forming a lower-low and lower-high pattern. The price remained in the zone for the last three trading sessions but broke the pattern downward on the 11th of November trading session.

The pair has broken the major support level of 0.83061 and sustained below it on the daily time frame, clearly indicating strong selling pressure. The pair has been closing in red for the last five trading sessions after rejecting resistance at the 0.84470 level.

As the price breaks the support level and sustains below it, it activates a selling trend. The following outlines the entry triggers:

  • Bearish Scenario: If the price consolidates below the support level and breaks out from the consolidation area, sellers may consider entering a trade with a stop loss above the previous swing high and a target at the 0.82498level.

The post EUR/USD & EUR/GBP: Key Support Levels Under Pressure appeared first on FinanceBrokerage.

previous post
Dollar Index Analysis: Strong Uptrend Faces Resistance Level
next post
Tesla Stock Hits $1T Market Cap as Musk Backs Trump Return

You may also like

Gold and silver: gold faces a new challenge...

August 8, 2024

Stock Futures Lower after S&P 500 futures ticked...

December 25, 2024

SafeMoon and Litecoin: Levels and Prices for Tuesday

October 16, 2024

Tech Regulations: The EU regulates, the US steps...

October 9, 2024

The Modern Day Forex Market

October 17, 2024

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped...

January 19, 2025

Nasdaq Slumps as CPI Data Aligns with Expectations

August 17, 2024

Oil and Natural Gas: Oil continues bullish toward...

August 8, 2024

Dollar index in anticipation of NFP and unemployment...

September 7, 2024

AUDUSD and AUDNZD: AUDUSD has an opportunity to...

August 24, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Basin Energy

      September 2, 2025
    • Altech Batteries LtdCERENERGY Battery 46.7M Euro German Grant Approval

      September 2, 2025
    • Altech – CERENERGY Battery 46.7M Euro German Grant Approval

      September 2, 2025
    • Locksley Resources LimitedStrengthens Leadership to Accelerate Growth Strategy

      September 2, 2025
    • Earthwise Advertising & Investor Awareness Campaign

      September 1, 2025
    Promotion Image

    banner ads

    Categories

    • Business (842)
    • Economy (829)
    • Investing (2,734)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved