Bearish pin bar | 06 November 2017
06 November 2017, EUR/USD
Technical Observation:
After the NFP news release yesterday, Eur declined significantly in price and is still showing signs of falling even further. This week, I expect a general decline in price towards 1.1452 or even a breakout to continue lower towards 1.04259 or even lower. according to the weekly chart above, I can only recommended a sell position. In fact, if you didn't go short around 1.1640, you could still go short now towards 1.1452 or even lower.
Technical Levels
Resistance levels
R1: 1.1829
R2: 1.2007
R3: 1.2313
Pivot
1.1673
Support Levels
S1: 1.1089
S2: 1.1395
S3: 1.1522
Trade Signal
Remain short
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
