Experiences in forex trading, by a special way.

November 13, 2022

Eur/Usd Forecast for Nov 14, 2022: Down in the Asian session

This is CaPhiLe.Com's forecast for the Eur/Usd currency pair, for the first session of the week, November 14, 2022.

First, on the D1 (daily) timeframe, the pair's price closed at a critical resistance level.

The trend on the current D1 timeframe has confirmed the reversal from downtrend to uptrend, very clearly.

The fact that D1 draws 2 long and white candles shows that the buying power is very strong, the trading volume is very well absorbed.

No matter how great the upward pressure is, the market will "need and should" have a reaction to the current price area (resistance level) anyway, which is the basis for the uptrend (if it continues) more sustainable.

We continue to see the chart on the H4 time frame (4 hours). In this article, I used a bit of experience in the ichimoku kinko hyo technical indicator (read details shared in this article: https://www.caphile.com/2022/11/ichimoku-kinko-hyo-in-forex-trading.html).

Look, the current price is very far from the kumo cloud, it looks like the price is overbought, and the price needs a correction - a drop to return to the equilibrium of the market sentiment (read details in this article). article: https://www.caphile.com/2022/11/equilibrium-zone-in-technical-analysis.html).

So the H4 timeframe favors a sell order.

And finally the H1 time frame (1 hour), I see a dynamic balance area creating a downward pull in the price (green oval), before the market decides the winner will be on the side buy or sell (continue to increase or decrease further).

Of course, the price could fall back there, or there might be a pullback after that to the predicted target, but I think it's mostly happening during the Asian session, until just before the Asian session. America started.

Note: The above forecast and analysis are subjective and do not guarantee or recommend investment for readers, for reference only.

Wish you successful and successful trading.

Best regards,

CaPhile.Com

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