Daily Market Analysis 30.11.2023: EURUSD

Instrument: EURUSD

Bullish Preference: 
Buy position is envisaged if price trades above  1.09348  With take profit at 1.09467
Bearish Preference: 
Sell position is envisaged if price trades  below 1.09057 with Take profit at 1.08947
USD:     Core PCE Price Index m/m    2:30 PM
                 Unemployment Claims         2:30PM

EUR/USD slipped lower post-release but the pair remain within an upward channel that has held for the last two weeks. A break of the channel, around the 1.0900 level may see the pair slip lower with the 23.6% Fibonacci retracement level at 1.0864 the first level of support.

A look at the day ahead in U.S. and global markets from Mike Dolan

The best month of the year for U.S. stocks and bonds draws to a close on Thursday with investors bulled up by warm feelings about disinflation, even with one wary eye on the latest OPEC+ meet.
World stocks captured by MSCI’s all-country index are doing even better, with November gains of almost 9% marking their best month in three years. Total returns for the month on global sovereign and corporate bonds were flirting with their best four weeks since the crash of 2008.

Analysis: SCRUM Team

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