EDGE Chart of the Day – EURUSD (November 22nd, 2023)

<div><p><div><h2 itemprop="headline">EURUSD Turn Coming? </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>We have been anticipating a reversal of the EURUSD at the longer term 61.8% Fibonacci retracement level at the 1.0960’s level on the Week Ahead video and in recent daily FACE shows. This rejection of the 61.8% retracement was pronounced this week, however, the next could days will be critical for this reversal to take place. Tomorrow, although a US holiday, will have Eurozone (German and French) PMI’s and on Friday, US PMI’s will be released. In order for the EURUSD to continue lower back below the 200dma, we will have to see continued lower European PMI’s and more specifically, the US PMI’s to remain above 50, which isn’t the case for the manufacturing data. If Eurozone data improves and the US data continues to slip below expectations, this move to the 1.0850’s may prove to be a pullback to be bought.</p>
<p>A break of the 1.0766 level would suggest the EURUSD may be ready to move back towards the 1.05XX levels.</p>
<p><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-10971" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26.png" alt="" width="1517" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26.png 1517w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26-400×221.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26-800×442.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26-768×425.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26-1500×830.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26-705×390.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/11/EURUSD_2023-11-22_10-02-26-450×249.png 450w" sizes="(max-width: 1517px) 100vw, 1517px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Blake Morrow</p>
</div></section></p>
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<p>The post <a href="https://www.forexanalytix.com/blog/chart-of-the-day-nov-22nd-2023/">EDGE Chart of the Day – EURUSD (November 22nd, 2023)</a> appeared first on <a href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>