Forecast for EUR/USD on November 11, 2019

EUR/USD

The euro fell by 28 points on Friday – the closest target, and it is the signal level – the MACD line on the daily chart, has been reached. Now the price has an open target at the Fibonacci level of 138.2% at the price of 1.0985. Going below the price opens the second target 1.0925 – September 3 and 12 lows. This is our main scenario.

analytics5dc8e2ff24a07.png

A weak convergence formed on the four-hour chart on the Marlin oscillator, but the line structure fits into the wedge, which speaks in favor of continuing to reduce this line. A possible correction is probably limited by the level of 1.1063 – the high of October 11, because it was after overcoming this level that the euro accelerated the fall on November 7th.

analytics5dc8e3147d620.png

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