EURUSD Daily Pivot Points Analysis 18-November-2024

EURUSD Daily Pivot Points Analysis 18-November-2024

Daily R3 - 1.0652
Daily R2 - 1.0622
Daily R1 - 1.0575
Daily Pivot Point - 1.0546
Daily S1 - 1.0499
Daily S2 - 1.0469
Daily S3 - 1.0422


✅Price Stabilization Around Daily Pivot Point - 1.0546

The price is stabilized near the Daily Pivot Point at 1.0546. Considering other factors, if the price tests the Daily R1 at 1.0575 today, it is likely to move down again near the Daily Pivot Point at 1.0546. Conversely, if the price moves down to the Daily S1 at 1.0499, it should rise again near the Daily Pivot Point at 1.0546.

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A pivot point is an intraday technical indicator that's used to identify trends and reversals in equities, commodities, and forex markets.
Pivot points are calculated to determine levels in which the sentiment of the market could change from bullish to bearish and vice-versa.
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You may find more details in the chart!
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