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11.11.201905:45 Forex Analysis & Reviews: Forecast for EUR/USD on November 11, 2019

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EUR/USD

The euro fell by 28 points on Friday - the closest target, and it is the signal level - the MACD line on the daily chart, has been reached. Now the price has an open target at the Fibonacci level of 138.2% at the price of 1.0985. Going below the price opens the second target 1.0925 - September 3 and 12 lows. This is our main scenario.

A weak convergence formed on the four-hour chart on the Marlin oscillator, but the line structure fits into the wedge, which speaks in favor of continuing to reduce this line. A possible correction is probably limited by the level of 1.1063 - the high of October 11, because it was after overcoming this level that the euro accelerated the fall on November 7th.

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