View Single Post
Old 11-10-2016, 05:09 AM   Nav to Top 
Superforex
Senior Trader
 
Superforex's Avatar
 
Join Date: Feb 2016
Location: Belize City
Posts: 599
Favorites: ___________________________
Rep Power: 68
Reputation: 10
Superforex is on a distinguished road
Default

Technical analysis of the currency pair EUR/USD on 10/11/2016. The daily chart

General analysis.

On the background the latest news from the presidential election in America currency pair EUR/USD started to decline sharply
At the time when Clinton was in the lead dollar began to fall but when it became known that Trump is likely to win this rally market turned around and started to increase.

Right now Decreasing formation is formed on the chart and yesterday's daily candle has a very high volatility almost 420 points which itself could lead to short-term price correction today.

Stochastic indicator show us the prevalence of decline in EUR / USD and gives a clear signal to sell.

The closest support level for the price reduction will be the level 1.0800 and with penetration of which new target to fall will open (1.0720 and 1.0680).

Next few days
We expect continuation of decrease in this currency instrument Most likely we will see the testing support level 1.0800 next week.

There is a possibility of short-term correction but after the results of the latest news from the Americas region general direction for the currency pair EUR / USD is falling.

Superforex is offline   Rate this post Yes | No Reply With Quote