CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

EUR/USD loses momentum

16:53 28 November 2022

Today's session is being marked by a deterioration in market sentiment which is supporting the recovery of the US dollar against the major currencies.


EUR/USD - Daily time frame chart

Start investing today or test a free demo

Open real account Try demo Download mobile app Download mobile app

During the morning, bulls tried to break above the resistance zone marked by 1.045, but without success.

 


EUR/USD, D1 time frame chart. Source: xStation 5

 

However, it is important to note that the bulls managed to break the downtrend line that has been putting pressure on the EUR against the US Dollar throughout this year.

The current pullback could still give room for the formation of the right shoulder of the chart pattern - inverted head and shoulders.

EUR/USD, Daily time frame chart. Source: xStation 5


JPY is leading the gains this session.

Heatmap. Source: xStation 5

Henrique Tomé, XTB Portugal

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back