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Technical analysis of EUR/USD for November 5, 2014

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Trading recommendations:

  • According to the previous events, the EUR/USD pair has still been moving between the levels of 1.0901 and 1.0799. The level of 1.0901 is representing the double top, and the daily pivot point is set at the same level. Consequently, sell above the price of 1.0901 in the short term with the first target at 1.0830. If the trend breaks the support at 1.0830 (double bottom), it might resume to 1.0800 to test the weekly support 1.

Notes:

  • The double top will be set at the level of 1.0901.
  • The major support is going to set at 1.0799.
  • The minor support has been set at the price of 1.0833.
  • We expect a range of 102 pips in coming two days.
  • The major support is going to set at 1.0799.
  • The minor support has been set at the price of 1.0833.
  • We expect a range of 102 pips in coming two days.
  • Warning:

    • Stop Loss should never exceed your maximum exposure amounts.
    • As a rule, the market is highly volatile if the last day has huge volatility.
  • As a rule, the market is highly volatile if the last day has huge volatility.


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