Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Technical analysis for EUR/USD for November 2, 2018

November 3, 2018 Analytics

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EUR/USD bounced today above short-term resistance at 1.1380 and reached the next important resistance at 1.1420. Trend remains bearish as long as price is below 1.1620.

analytics5bdb79fa8149d.png

Red dots -maximum strength resistance

Black dots – medium strength resistance

Light blue dots – medium strength support

If EUR/USD bulls manage to break above 1.1420-1.1430, then we should expect a bigger bounce towards 1.1570-1.1630. Support is at 1.1340. If broken we should expect price to move towards 1.1250-1.12.

The material has been provided by InstaForex Company – www.instaforex.com

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