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Technical analysis for the EUR/USD – 05.11.2015

The price fell to 1.0850/30 support as expected. This strong barrier triggered a slight pullback up, so trading is currently carried out at around 1.0860/70s. Indicators are still bearish, suggesting further test of the 1.0850/30 support. However, it’s worth taking into account divergence in MACD, which may indicate the beginning of a strong pullback up, followed by consolidation in a wide range of 1.1060-1.0850/30. The breakout of the 1.0850/30 support will be a signal for the upcoming decline to the next targets at 1.0660/70 and 1.0500/1.0460 lows.

EUR051115

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

The price fell to 1.0850/30 support as expected. This strong barrier triggered a slight pullback up, so trading is currently carried out at around 1.0860/70s. Indicators are still bearish, suggesting further test of the 1.0850/30 support. However, it’s worth taking into account divergence in MACD, which may indicate the beginning of a strong pullback up, followed by consolidation in a wide range of 1.1060-1.0850/30. The breakout of the 1.0850/30 support will be a signal for the upcoming decline to the next targets at 1.0660/70 and 1.0500/1.0460 lows.

EUR051115

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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