EURUSD Technical Analysis 2016, 20.11 - 27.11: bearish breakdown; 1.0567 level is the key

EURUSD Technical Analysis 2016, 20.11 - 27.11: bearish breakdown; 1.0567 level is the key

20 November 2016, 19:09
Sergey Golubev
13
130

Daily price is on bearish breakdown located below Ichimoku cloud in the bearish area of the chart. The price broke 1.0619 support level to below for the bearish breakdown to be continuing with 1.0567 target to re-enter.

If D1 price breaks 1.0567 support level on close bar so the bearish trend will be continuing.

If D1 price breaks 61.8% Fibo resistance level at 1.1019 on close bar from below to above so the reversal of the price movement from the primary bearish to the primary bullish trend willbe started.
If not so the price will be on bearish ranging within the levels.


  • Recommendation for long: watch close D1 price to break 1.1019 for close bar for possible buy trade
  • Recommendation to go short: watch D1 price to break 1.0567 support level on close daily bar for possible sell trade
  • Trading Summary: bearish
Resistance
Support
1.10191.0619
1.12991.0567

SUMMARY: bearish

TREND: breakdown



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