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 06, 2018

analytics5be169d55b7da.png

Overview:

The EUR/USD is still trading around the pivot point of 1.1422. The EUR/USD pair continues to move downwards from the areas of 1.1475 and 1.1422.

Last week, the pair dropped from the level of 1.1475 to 1.1356. Today, resistance is seen at the levels of 1.1422 and 1.1475. So, we expect the price to set below the strong resistance at the levels of 1.1475 and 1.1422; because the price is in a bearish channel now.

Also, it should be noted that the price of 1.1457 coincides with a ratio of 38.2% Fibonacci on the H1 chart. Amid the previous events, the price is still moving between the levels of 1.1422 and 1.1300.

In overall, we still prefer the bearish scenario as long as the price is below the level of 1.1422.

Furthermore, if the EUR/USD pair is able to break out the bottom at 1.1356, the market will decline further to 1.1295.

However, if the price closes above the strong resistance of 1.1475, the best location for a stop loss order is seen above 1.1475.

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