Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
EUR/USD favored by the bullish price action
2019-11-11 • Updated
EUR/USD remains supported in favor of the bulls and as we can see in the H1 chart, the Fibonacci area of 50% and 65% have provided the enough momentum in order to help the pair to consolidate above the critical level of 1.20. Because of the rebound above such area and the 200 SMA at H1 chart, we’re expecting a bullish continuation towards the -23.6% Fibonacci retracement level at 1.2165. Corrective moves should be limited by the 38.2% Fibo zone.
RSI indicator is still in the neutral territory, calling for a bullish consolidation before any significant move.
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Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...