Online Forex broker
2019-11-11 • Updated
Trade idea
SELL 1.1370; TP 1.1340; SL 1.1380
As we pointed out at the start of the week, EUR/USD failed to pursue upside and returned the levels, at which it has been trading since the end of October.
It looks like the downside is still not finished. Although the pair managed to close above the 50-day MA at 1.1380 yesterday, it’s now testing lower levels. The support line from November lows at 1.1340 will attract the pair. There’s scope for such move: the lower daily Bollinger band is at 1.1320, daily Alligator is declining.
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!
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