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EURUSD Technical Analysis For 3rd November 2015

03 November 2015, EUR/USD

EURUSD Technical Analysis For 3rd November 2015
Technical View:
EURUSD is currently trading with a bearish bias. The pair traded long for the better parts of Yesterday but could not close above a significant resistant level 1.10704, instead, the pair turned around from 1.10499 and is currently headed short. We will remain short in this pair as long as other positively correlated pairs such as EUR/HKD and EUR/GBP trades short. Our short positions will however be accompanied buy stops at 1.0975, and the next stop at 1.09432.

Trade Recommendations:

As long as the pair trades below 1.10179, short positions are recommended but with stops at 1.0975, and the next stop at 1.09432. Buy positions are only recommended above 1.1035.

Support levels: S3: 1.1005 S2: 1.1008 S1: 1.1012 Resistance Levels: R1: 1.1019 R2: 1.1022 R3: 1.1026

Graham Osano
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