29.11.2023 05:29 AM
Forecast for EUR/USD on November 29, 2023


Yesterday, the euro rose and settled above the level of 1.0946 on the daily chart, approaching the target level of 1.1033. Despite all this, the signal line of the Marlin oscillator cannot return to its own rising channel.

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A correction will likely occur from the nearest target (1.1033). If the situation with Marlin improves, the euro may reach the upper band of the price channel around the target resistance of 1.1096 (April peak).

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On the 4-hour chart, yesterday, the price once again bounced off the MACD indicator line (blue) and continued to rise at an accelerated pace. The Marlin oscillator continues its stable upward movement. We expect the price to reach the nearest target level of 1.1033.

Laurie Bailey,
Analytical expert of InstaTrade
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