empty
 
 
20.11.2019 03:47 PM
EUR/USD for November 20,2019 - Rejection of the major resistance at 1.1080, downside pressure and selling opportuntiies preferable

EUR/USD rejected of our major resistance at the

This image is no longer relevant

price of 1.1080 that we mentioned yesterday. Yesterday was the NR7 (narrowest daily range in past 7 days) and today we got down break.

Due to strong rejection of our main pivot resistance at 1.1080, we do expect further downside and potential test of the support at 1.1000. Watch for selling opportunities on the rallies on the lower frames 5/15 minute time-frames to better time your entries.

Today is the FOMC day and you should be extra careful with positing sizing.

My advice is to establish short position with the potential target at 1.1000 and max stop loss at 1.1090

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback