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Support Trump - level 1.1085

09 November 2016, EUR/USD

Daily chart: So far, important resistance lines have not been broken (even puncture of the first one is pointed, see the red area). Therefore, the intrigue of the day is the question if bulls will break the upper envelope on the basis of the daily closing of the inside bar? The answer depends on whether we have the signal for middle-term purchases. In the meantime, downward rollback is anticipated.

Support Trump - level 1.1085

Н4: here everything may result by the bearish inside bar, now it is too early to say. In general, we are about to get correction to the middle Bollinger band (1.1085), which will decide the fate of northern potemtial, whereas markets will show us their reaction to voting in the USA.

Support Trump - level 1.1085

Н1: key support for the day is 1.1085 (middle Bollinger band). We are waiting when the price will touch it as well as formation of a possible signal to buy.

Support Trump - level 1.1085

Expectations: a downward pullback to 1.1085, where the situation will be vague. If we gat upward signals on H1, it will anticipate the movement to north. If support is broken, then we'll wait the pair at 1.1004

Trading solutions: Catchers of corrections can try selling to 1.1085. But conservatives need to wait for the response to the level 1.1085.

Aleksey Panasenko
Analyst of «FreshForex» company
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