empty
27.11.2023 10:50 AM
EUR/USD and GBP/USD: Trading plan for beginner traders on November 27, 2023

Details of the Economic Calendar on November 24

The Business Activity Index in the United States services sector rose from 50.6 to 50.8, while a decline to 50.5 was expected. The manufacturing index, instead of the expected stable level of 50.0, fell to 49.4, indicating a potential slowdown in the American industry. The composite business activity index remained unchanged, although a decline from 50.7 to 50.6 was expected.

These data indicate that the economy is gradually entering a recession despite efforts to prevent it. Therefore, the Federal Reserve may begin to stimulate the economy by reducing interest rates in the face of an economic downturn.

This image is no longer relevant

Analysis of Trading Charts from November 24

The EUR/USD currency pair increased the volume of long positions around the level of 1.0900. This led to an increase in quotes within the local high of the previous week, indicating a prevailing bullish sentiment among market participants.

The GBP/USD pair continued its current upward cycle. Quotes rose above the level of 1.2600, indicating a step-by-step recovery of the English currency after the period from July to September, when a decline occurred.

Economic Calendar on November 27

Today, the macroeconomic calendar is practically empty, and the only thing to note is the data on new home sales in the United States, where a decrease is forecasted.

EUR/USD Trading Plan for November 27

In this situation, maintaining the price above the level of 1.0950 may indicate future growth in the volume of long positions on the euro. In perspective, this movement may lead to a shift in quotes in the range of 1.1000/1.1050.

This image is no longer relevant

GBP/USD Trading Plan for November 27

Subsequent growth could well lead to a movement in price towards the resistance level of 1.2700. This movement not only leads to an increase in the volume of long positions but also indicates the possibility of a movement towards the local high set in July.

This image is no longer relevant

What's on the charts

The candlestick chart type is white and black graphic rectangles with lines above and below. With a detailed analysis of each individual candle, you can see its characteristics relative to a particular time frame: opening price, closing price, intraday high and low.

Horizontal levels are price coordinates, relative to which a price may stop or reverse its trajectory. In the market, these levels are called support and resistance.

Circles and rectangles are highlighted examples where the price reversed in history. This color highlighting indicates horizontal lines that may put pressure on the asset's price in the future.

The up/down arrows are landmarks of the possible price direction in the future.

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Pair on April 15? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair continued its upward movement without any trouble. There were no macroeconomic reasons for this, and even

Paolo Greco 06:29 2025-04-15 UTC+2

How to Trade the EUR/USD Pair on April 15? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair traded more sideways than upward, although it still gained value

Paolo Greco 06:29 2025-04-15 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 15: The Pound Sees No Reason to Stand Still

The GBP/USD currency pair traded higher on Monday without any "buts." While the euro showed some gains by the end of the day, they weren't significant — in contrast

Paolo Greco 03:57 2025-04-15 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 15: No Boring Monday

The EUR/USD currency pair attempted to extend its growth during Monday's session but eventually pulled back in the second half of the day. In essence, we didn't see any substantial

Paolo Greco 03:57 2025-04-15 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 14th (Review of Morning Trades)

In my morning forecast, I highlighted the level of 1.3139 and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened

Miroslaw Bawulski 18:50 2025-04-14 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 14th (Analysis of Morning Trades)

In my morning forecast, I highlighted the level of 1.1393 and planned to make entry decisions based on it. Let's look at the 5-minute chart and analyze what happened there

Miroslaw Bawulski 18:47 2025-04-14 UTC+2

How to Trade the GBP/USD Pair on April 14? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD On Friday, the GBP/USD pair also continued its upward movement. The reasons are the same as for the EUR/USD pair. The entire

Paolo Greco 06:08 2025-04-14 UTC+2

How to Trade the EUR/USD Pair on April 14? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD On Friday, the EUR/USD currency pair generally continued upward movement. And why would it stop? The trade war between the U.S

Paolo Greco 06:08 2025-04-14 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 14: The Pound – The Silent Leader

The GBP/USD currency pair continued trading higher on Friday, although the dollar avoided substantial losses this time. Even though one day without a complete dollar collapse may seem significant

Paolo Greco 03:33 2025-04-14 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 14: The Dollar Continues to Collapse

On Friday, the EUR/USD currency pair continued its ultra-strong rally—something no one was surprised by anymore. U.S. and China reciprocal tariffs continue to rise, while all other news remains irrelevant

Paolo Greco 03:33 2025-04-14 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.