**Monthly Chart**
EURUSD *long-term directional bias* has been bearish since 2008. The pair bounced higher from Sept 2022 at around 0.9500 level and then remained in a range from Jan 2023 till date between 1.05000 and 1.12700. As expected Nov2023 candle closed as an engulfing candle (it also called Ring low) after the doji candle of Oct2023. Therefore, the directional bias for this coming month is bullish. I expect the price to reach at least to 1.2100 level. However, I will be looking at NFP by end of this week which will also determine the direction for this month.
**Weekly Chart**
Last week candle closed slightly lower after creating a new high and low from the previous week's candle. I am still expecting that the directional bias of this pair is bullish above 1.1000 level.
**Daily Chart**
The daily candle closed as a bullish pin (or hammer formation) after bouncing from the previous support level, which indicates the directional bias is bullish.
EURUSD *long-term directional bias* has been bearish since 2008. The pair bounced higher from Sept 2022 at around 0.9500 level and then remained in a range from Jan 2023 till date between 1.05000 and 1.12700. As expected Nov2023 candle closed as an engulfing candle (it also called Ring low) after the doji candle of Oct2023. Therefore, the directional bias for this coming month is bullish. I expect the price to reach at least to 1.2100 level. However, I will be looking at NFP by end of this week which will also determine the direction for this month.
**Weekly Chart**
Last week candle closed slightly lower after creating a new high and low from the previous week's candle. I am still expecting that the directional bias of this pair is bullish above 1.1000 level.
**Daily Chart**
The daily candle closed as a bullish pin (or hammer formation) after bouncing from the previous support level, which indicates the directional bias is bullish.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.