Indicator analysis EUR/USD; daily review Nov 11, 2019

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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.

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