12 November 2020, EUR/USD
Technical observation
EUR has been trading with an increasing bearish momentum for several days now and it is still showing signs of declining even further today. My expectation is a rally downwards towards the supportive zone 1.1744-1.1715 followed by a clear bounce within it for a momentum to the upper side, or, a clear breakout below the same with a big red candle. In case of a bounce within the zone, pick long positions within it with your take profit at 1.2009 and stop loss at 1.1602. However, in case of a break below the same zone, wait for a correction to it confirming a possible surge to the lower side before you sell EUR.
Trade recommendation
Remain flat.