Top Forex Brokers – Forex Weekly news and analysis For November 18 – 24, 2024
US500, being in a long-term bullish trend, formed an ascending channel pattern and bounced off the trendline to renew ATH. CCI came out of overbought condition.
•Consider selling US500 if it drops below 5900, with a target of 5800.
USDCHF reached 61.8 Fibonacci after a rapid rise, consolidating at resistance. Stochastic indicates a solid overbought condition.
•If the price breaks through the 0.8900 resistance, it could rise to 0.9040 and potentially further to 0.9150.
•A rebound from resistance may start a correction to 0.8700.
XNGUSD, moving in a sideways pattern, hit critical resistance again and rebounded. The price dropped below the DEMA, and the %R indicator exited the overbought zone.
•Consider selling XNGUSD if it drops below 2950, targeting 2700.
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