MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of EUR/USD for November 21, 2016

1479724647_EURUSDH1.png

Overview:

  • The EUR/USD pair continues to move downwards from the level of 1.0741, which represents the double top on the H1 chart. Last week, the pair dropped from the level of 1.0741 to the bottom around 1.0568 to close at the point of 1.0630. Today, the first resistance level is seen at 1.0652 followed by 1.0741, while daily support is seen at the levels of 1.0564 and 1.0493. According to the previous events, the EUR/USD pair is still moving between the levels of 1.0741 and 1.0500. Hence, we expect a range of 241 pips in coming days. The first resistance stands at 1.0654, for that if the EUR/USD pair fails to break through the resistance level of 1.0654, the market will decline further to 1.0564. This would suggest a bearish market because the RSI indicator is still in a negative area and does not show any trend reversal signs. The pair is expected to drop lower towards at least 1.0500 in order to test the second support (1.0493). On the contrary, if a breakout takes place at the resistance level of 1.0741 (the double top), then this scenario may become invalidated.
The material has been provided by InstaForex Company - www.instaforex.com