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Indicator analysis. Daily review on November 6, 2019, on the EUR / USD currency pair.

Trend analysis (Fig. 1).

On Wednesday, the price, from the level of 1.1075, may continue to move down with the target of 1.1030 - a pullback level of 50.0% (red dashed line). In case of breaking through, continued work down with the target of 1.0995 is a retracement level of 61.8% (red dashed line).

analytics5dc25fb676a7a.png

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - down;

- Weekly schedule - down.

General conclusion:

On Wednesday, a downward movement is possible.

The first lower target 1.1030 is a pullback level of 50.0% (red dotted line). In case of breaking through, continued work down with the target of 1.0995 is a retracement level of 61.8% (red dashed line).

The upper scenario - from the level 1.1075, work up with the target 1.1088 - resistance line (red bold line) and further up to 1.1126 - historical resistance level (blue dashed line).

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