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    Technical analysis of EUR/USD for November 16, 2014

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    Trading recommendations:

    • The resistance of the EUR/USD pair has already been set at 1.0769 on November 16, 2015. The level of 1.0758 is representing the weekly pivot point. Furthermore, it will be very profitable to sell below this level for retesting this level in the short term. Therefore, sell deals are recommended below the weekly pivot point (1.0758) with targets at 1.0687 (the level of 1.0687 is representing the support 1) and 1.0673 to reach the double bottom today. On the contrary, the resistance is going to set at the level of 1.0769 today. Consequently, the ascendant movement will probably be higher than the 1.0769 level with the targets at the price of 1.0829.

    The weekly technical analysis of the EUR/USD pair:

    eurusd_PP.jpg

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