Wait | 07 November 2019

07 November 2019, EUR/USD

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Technical Observation

EURUSD continues to rally to the lowerside but is still bullish according to the trend indicator attached. While the price is contained above the Green moving average attached, I expect a momentum to the upperside, this bullish move is supported by the fact that we have not seen any clear retracements back to any of my fib levels, Ideally, I expect a momentum towards 23.6% fib level, and should price break above this fib level, the maximum the price should retrace back up to is 50.0% fib level.

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Imelda Maseno
Analyst of «FreshForex» company
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