Indicator analysis EUR/USD; daily review Nov 11, 2019
Trend analysis (Fig. 1).
On Monday, the market may begin to slide backward, with the target of 1.1041 – a retracement level of 14.6% (blue dashed line). If this level is reached, it is possible to continue the upper pullback to 1.1057 – a pullback level of 23.6% (blue dashed line).
Fig. 1 (daily chart).
Comprehensive analysis:
– Indicator analysis – up;
– Fibonacci levels – up;
– Volumes – up;
– Candlestick analysis – up;
– Trend analysis – down;
– Bollinger Lines – up;
– Weekly schedule – down.
General conclusion:
On Monday, upward movement is possible.
The upper target 1.1041 is a retracement level of 14.6% (blue dashed line). If this level is reached, it is possible to continue the upper pullback to 1.1057 – a pullback level of 23.6% (blue dashed line).
An unlikely scenario is the continuation of the downward movement with the target of 1.0995 – a retracement level of 61.6% (red dashed line).
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Indicator analysis. Daily review on November 11, 2019, for the EUR / USD currency pair.