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Sell EURUSD from 38.2% fib level with your first take profit at 23.6% fib level.

Sell EURUSD from 38.2% fib level with your first take profit at 23.6% fib level. | 06 November 2019

06 November 2019, EUR/USD

Technical Observation

After a 50.0% retracement, EURUSD could not hit the 60.8% fib level, we expect the bounce from around 1.11690 to culminate into a rapid move to the lowerside and should break below the 23.6% fib level or even lower. Ideally, we expect the price to continue downwards towards the swing low 1.08965, if this low is broken, then further momentum to the lower side is expected towards 1.08660 or even lower towards 1.0751. On this chart, only a break above the previous week's highest high will attract a buy.

Trade Recommendations:

Sell EURUSD from 38.2% fib level with your first take profit at 23.6% fib level.

Imelda Maseno
Analyst of «FreshForex» company
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