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 for EUR/USD for November 6, 2018

EUR/USD pulled back towards 1.1350 and is now bouncing back above 1.14. In our previous analysis, I mentioned that a higher low towards 1.1360 is very possible and what bulls needed to see in order for a bullish pattern to be built. Now a break above 1.1440-1.1460 would confirm the bullish momentum.

analytics5be138161c4a2.png

Light blue dots - medium strength support

Dark blue dots - maximum strength support

Although the longer-term trend remains bearish, we have pointed out in previous analysis that several indicators point to a big bounce in EUR/USD. So far price seems supported at the 1.1350-1.13 area. While price was making new lows DAILY oscillators did not follow as we mentioned before. This was a warning for bears that the should be cautious as a short-term bounce could come and 1.15-1.16 could be seen. In the short-term we have a strong leg higher from 1.13 to 1.1460 area and a pull back with a higher low. This setup is bullish specially if we break above 1.1460. Then EUR/USD could push higher towards 1.15-1.1550. Key resistance area for the longer-term bearish trend is at 1.1550-1.1620. This is the level bulls need to break in order to confirm a major low in EUR/USD.

The material has been provided by InstaForex Company - www.instaforex.com