Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD reached buy target 1.1270
2019-11-11 • Updated
- EUR/USD reached buy target 1.1270
- Next sell target - 1.1160
EUR/USD recently reversed down from the powerful, long-term resistance level 1.1270 (which reversed the pair sharply in November and May and which was set as the buy target in our earlier forecast for this currency pair). The downward reversal from this resistance level stopped the earlier minor impulse wave (v) – which belongs to the C-wave from the middle of April. Considering the clear bearish divergence on the daily RSI indicator - EUR/USD is expected to fall to the next sell target at the next support level 1.1160. Strong resistance remains at 1.1270.
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