EUR/USD: EUR may break a psychological low

EUR/USD: EUR may break a psychological low

2019-11-11 • Updated

Recommendation:

SELL 1.1305

SL 1.136

TP1 1.1205 TP2 1.1175 TP3 1.075

On the daily chart of EUR/USD, bulls couldn't pull the pair out of the short-term consolidation of 1.13-1.15 and to targets of the "Wolfe waves". It signals their weakness. Bears have taken the initiative. To keep moving down they need to break the support at 1.13.

eurusd_d.png

On H1, 88.6% and 113% targets determine key levels of support at 1.1325 and 1.1285. A break of the August low may cause a sharp decline. 

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