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flag ★ Technical analysis recommendations for the EUR/USD and GBP/USD on November 8

Forex Analysis:::2019-11-08T07:59:54

Technical analysis recommendations for the EUR/USD and GBP/USD on November 8

Economic calendar (Universal time)

Today's indicators and the news of the economic calendar are not important again and are not able to significantly affect the activity and effectiveness of the movement, and thus, closing the week is unlikely to have an unexpected result.



Lower players won back most of the opponent's October gains and returned to the day cloud. The most important supports separating the pair from the longer-term plans are now located at 1.1030 (the final border of the daily gold cross + weekly short-term trend) and 1.0984-74 (the lower border of the daily cloud). The closest resistances that will now help defend the bearish moods are 1.1065 (daily Kijun + upper border of the daily cloud) - 1.1082 (weekly Fibo Kijun + daily Fibo Kijun) - 1.1106 (daily Tenkan).


Another finding in the correction zone. Resistances that can change the balance of power and priorities of the market are at 1.1059 (central Pivot level) and 1.1105 (weekly long-term trend) today, while the downward benchmarks - S1 (1.1027), S2 (1.1003), S3 (1.0971).



Fixation at the key level of 1.2882 (daily short-term trend - weekly Fibo Kijun), as expected, led to the continuation of the decline. The support area is now quite wide which combines many strong levels of different time intervals 1.2700 - 1.2600 (daily Fibo Kijun and Kijun + monthly Tenkan + weekly Tenkan and Fibo Kijun).


Lower players continue to mark new lows and retain the advantage of technical indicators in the lower halves. The downward trends within the day, in the case of the resumption of the downward trend, will support the classic pivot levels 1.2778 - 1.2744 - 1.2694 today. The most significant resistances that affect the balance and distribution of forces are currently located at 1.2828 (central pivot level) - 1.2881 (weekly long-term trend).

Ichimoku Kinko Hyo (9.26.52), Pivot Points ( classic ), Moving Average (120)

Analyst InstaForex
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