TRADING TIPS FOR EUR/USD (26.11.2020)

<p>During today's Asian session, EUR / USD grew to a new 12-week high near 1.1940. However, further growth of the pair has stalled. At the moment, the pair is decreasing towards the short-term support level 1.1903 (ЕМА200 on the 15-minute chart). EUR / USD maintains long-term positive dynamics, primarily amid the continuing weakening of the dollar. Therefore, the most likely seems to be a rebound from this support level 1.1903 and a return of the pair to an uptrend. In case of a breakdown of the local resistance level 1.1940 (today's and November highs), the next nearest target will be the local resistance level 1.1960 (August highs). The next target is located at 1.2010 (annual and 30-month highs). Its achievement will increase the likelihood of further growth towards the resistance level 1.2180 (Fibonacci level 50%) and the upper border of the ascending channel on the weekly chart passing through the 1.2340 mark. In the alternative scenario, and after the breakdown of the 1.1903 support</p>