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12.11.201913:32 Forex Analysis & Reviews: November 12, 2019 : EUR/USD Intraday technical analysis and trade recommendations.

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

Exchange Rates 12.11.2019 analysis

On October 2, a bullish breakout above 1.0940 confirmed the depicted Inverted Head & Shoulders reversal Pattern which opened the way for further bullish advancement towards (1.1000 -1.1020)

This bullish movement has been maintained above the depicted bullish trend.

On October 7, temporary sideway consolidation range was demonstrated around the price zone of (1.1000 -1.1020) before further bullish movement was resumed towards 1.1175 where significant bearish rejection was originated.

The price zone around (1.1175 - 1.1190) stood as a significant SUPPLY-Zone that demonstrated bearish rejection for two consecutive times in a short-period.

Moreover, the short-term technical outlook has turned into bearish after breakdown below 1.1090 was achieved (the depicted uptrend line and 50% Fibonacci Retracement Level).

On the other hand, a long-term Double-Top pattern was demonstrated with neckline located around 1.1075-1.1090 which offered bearish rejection upon last week's retesting.

Quick bearish decline was expected towards 1.1025 and 1.0995 provided that the bearish breakout below 1.1090-1.1070 is maintained on a daily basis.

Recently, temporary bullish rejection is being applied around 1.1015 where a short-term double bottom pattern may be demonstrated with a bullish target projected towards 1.1085.

On the other hand, Any bullish pullback towards 1.1065-1.1085 should be watched for early bearish rejection and another valid SELL entry.

Mohamed Samy
Analytical expert of InstaForex
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