11 November 2019, EUR/USD
Technical Observation
Last week, EURUSD rallied to the lowerside and is still in an active downtrend. Since the overall trend is downwards, I expect further momentum to the lowerside. The idea is to wait for a retracement towards 1.1075 to pick a low risk sell order towards 1.109170. And in case the price breaks below this level, then further momentum even further to the lower side is expected even lower. On its way to the lowerside, the key lines to look for include 1.07740, 1.0610. As it is, only a clear breakout above 23.6% fib level will push the price to the upperside.
Trade Recommendation:
Sell EURUSD from 1.10752 to pick a sell towards 1.09170.