See also
29.11.2023 11:21 PMThe currency pair crashed after failing to stay above the historical level (former high) of 1.1144. It has ignored the minor uptrend line which represented a first downside obstacle and now it has reached the uptrend line.
Technically, the uptrend line represents a downside obstacle. As long as it stays above it, the rate could jump higher again.
Dropping and stabilizing below the uptrend line activates a deeper drop. This could help the sellers to catch a downside continuation.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The price test at 154.66 coincided with the MACD indicator just beginning to move up from the zero mark, which allowed buying the dollar in line with the trend. However
The test of the price at 1.3145 coincided with the MACD indicator just beginning to move down from the zero mark, confirming the right entry point for selling the pound
The test of the price at 1.1633 coincided with the MACD indicator rising significantly above the zero mark, which limited the pair's upward potential. For this reason
The euro, pound, and other risky assets continued to rise against the U.S. dollar. Confusion among the U.S. Federal Reserve, with significantly differing statements from policymakers, has put pressure
The price test at 154.75 coincided with the MACD indicator moving significantly below the zero mark, which limited the pair's downside potential. For this reason, I did not sell
The price test at 1.3108 occurred when the MACD indicator was beginning its downward move from the zero mark, confirming the correct entry point for selling the pound
The price test at 1.1580 occurred as the MACD indicator began to move above the zero mark, confirming the correct entry point for buying euros. As a result, the pair
InstaTrade in figures
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?
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 InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
