Overview:
- The resistance level was already faced at 1.0833. Furthermore, it will be very profitable to sell below this level for retesting it in the short term. Therefore, sell deals are recommended below the levels of 1.0833 and 1.0766 with a target at 1.0673 (the level of 1.3838 is representing the double bottom). If the trend is able to break the double bottom at 1.0673, then it will continue moving towards 1.0613 to reach a new double bottom.
- On the contrary, the resistance is seen at the level of 1.0833 today. Consequently, the descending movement will probably be higher than 1.0833 with a target at 1.0872. It is going to drop towards the double bottom around the level of 1.0907 in the H1 chart.
Intraday technical levels:
Date:12/11/2015
EUR/USD:
- R3: 1.0844
- R2: 1.0808
- R1: 1.0776
- PP: 1.0740
- S1: 1.0708
- S2: 1.0672
- S3: 1.0640
