Currency market review November 27, 2019

What do we see in the foreign exchange market?

The US dollar 🇺🇸 is trading at the local maximums of a small flat formed from the second half of October 2019.

The courage of sellers decreased when the price approached the resistance level in this market. At the moment, a level test is being carried out, while there are no global changes.

From the exposure of this level will depend on the dynamics of the instrument from a technical point of view. From a fundamental point of view, there is a huge dependence of markets on the signing of the 1st phase of the US and China trade agreement, as well as on the Fed's comments at upcoming meetings.

The general market sentiment is tense.

For Euro 🇪🇺, in the second half of last week, sellers were able to sharply seize the initiative in their hands and transfer the market to a downward zone of influence.

At the beginning of this week, the ardor of sellers decreased slightly, the market is in respite. You should pay attention to the price behavior in the second half of the current week.

Current level of support is an important area holding back bears. In case of a breakthrough, access to the level of 1.0900 will open, however, with a greater probability the price will unfold.

Side consolidation continues. The price of the British pound 🇬🇧 satisfies both buyers and sellers.

Three times the price failed to break through an important resistance level. Investors are gradually unloading their long positions.

The pound price is overbought and the market requires the formation of a deep medium-term downward correction.