For Traders

Analytical Reviews

Technical analysis

12.11.201906:21 Forex Analysis & Reviews: Forecast for EUR/USD on November 12, 2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

Yesterday, the euro lingered on supporting the MACD line of the daily chart. The price remains above both indicator lines - balance and MACD, in this case, it is likely that a short-term consolidation will form in order to accumulate strength for a break down. The immediate target is still the Fibonacci level of 138.2% at the price of 1.0985, below it the second target of 1.0925 - the lows of September 3 and 12.

On a four-hour chart, the price remains in a downward trend - indicator lines are high above the price, the signal line of the Marlin oscillator is still in the zone of negative numbers. The most significant sign of growth here is the double convergence of the oscillator. 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 its fall on November 7.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.