It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
EUR/USD broke lower
2019-11-11 • Updated
SELL 1.1030; TP 1.1000; SL 1.1040
EUR/USD has dived below support at 1.1100 and 1.1050 resuming the longer-term downtrend. The longer-term target seems to be at 1.0820 (78.6% Fibo of the 2016-2018 advance) after the pair settled below the 61.8% Fibo retracement at 1.1185. As for the near-term, the “Head and Shoulders” pattern implies that the targets are not yet reached - 1.1000 and 1.0950. The pair’s still not oversold.
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!