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EURUSD analysis 19.11.2019

19.11.2019

Market Review

The resistance level of 1.1091 holds back buyers. Also, buyers did not overcome the 50% Fibonacci level. A Bearish divergence formed on the Awesome Oscillator indicator, while the Stochastic Oscillator indicator showed an exit from the overbought zone. The formation of a descending pattern will result in the formation of a Head and Shoulders reversal model.

Trading recommendations:
But strictly while the descending pattern is forming, where the wave AU breaks through the inclined channel of the ascending pattern, thereby completing it. 
Stop Loss at the resistance level 1.1091.
Target levels - 1.1000; 1.0920 (level 138.2% Fib from A D1).

Author: admin
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