empty
 
 
08.11.2019 08:34 AM
Indicator analysis. Daily review on November 8, 2019, on the EUR / USD currency pair.

Trend analysis (Fig. 1).

On Friday, the market, moving down, will try to reach a pullback level of 50% - 1.1031 (red dashed line) and, if successful, can continue to move down with the target of 1.0995 - a pullback level of 61.8% (red dashed line), but this is most likely to happen only after lunch. Before lunch, there will be a rolling movement up or the side channel.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - down.

General conclusion:

On Friday, a downward movement is possible.

The lower target is a retracement level of 50% - 1.1031 (red dashed line) and, if successful, can continue to move down, with a target of 1.0995 - a retracement level of 61.8% (red dashed line), but this is most likely to happen only after lunch. Before lunch, there will be a rolling movement up or the side channel.

An unlikely scenario - all day moving up to the target 1.1084 - retracement level of 38.2% (blue dashed line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback