EURUSD Technical Analysis For 12th November 2015
12 November 2015, EUR/USD
EUR/USD is currently trading with a slight bullish bias. Following the massive downward movement witnessed on 6th October, Euro market is reluctant to continue short, instead the Euro market is making minor upward movements. We are waiting for the current upward movements to go above 1.08008 before we can continue long, however, should the pair move down below 1.06705, then short positions will be ideal but with our target at 1.04866. Traders trading this pair should observe other positively correlated pairs such as EUR/HKD, EUR/JPY, EUR/CAD and EUR/CHF for similar price movements. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.
Buy above 1.08008, with targets at 1.0891, and the next target at 1.1011. Sell below 1.06705 with target at 1.04866,
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