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 will have a busy week
2019-11-11 • Updated
SELL 1.1110; TP 1.1050; TP 1.1125
BUY 1.1135; TP1 1.1150; TP2 1.1185; SL 1.1120
With the Federal Reserve’s meeting and the release of Nonfarm Payrolls, EUR/USD is going to have an active week. Last week, it turned down from the 100-day MA and closed below 1.11 on Friday. On Monday, we witness a recovery in the euro. However, sellers will likely re-emerge between 1.11 and 1.1117 (50-period MA on the H4). The downside targets lie at 1.1055 and 1.1035 (50-day MA). Only the rise above 1.1130 will open the way up to 1.1150 and then possibly 1.1185/1.1200.
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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!