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EURUSD Technical Analysis For 10th November 2015

10 November 2015, EUR/USD

EURUSD Technical Analysis For 10th November 2015
Technical View:
EUR/USD is currently trading with a bearish bias. The crossed below a key support level 1.08046 and is currently trading below it, we expect the downward movement to continue up to the green support level 1.04866 in order to complete the Triangle. Traders trading this pair should observe other pairs such as AUD/HKD, EUR/HKD and EUR/GBP for positive correlation. These pairs have had a strong positive correlation of upto +0.95 and are thus expected to move in the same direction during this intraday.

Trade Recommendation:

Remain short in this pair, but with TP at 1.04866, any clear movements below this level will signal further movements to the lower side. You may look for buy positions above 1.08400, or along 1.04866

Graham Osano
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