Market analysis on EUR/USD, NZD/USD, and USD/CHF: 31st October – 4th November

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Market analysis on EUR/USD, NZD/USD, and USD/CHF: 31st October – 4th November

Postby kreslik.news » Mon Oct 31, 2016 7:33 am


EUR/USD: 31st October – 4th November

The EUR/USD pair has broken the triangle support line and is currently trying to retrace back to the broken support line which turned into a strong resistance level. The near term resistance is at the 1.10420 level.

Professional traders are waiting patiently for the price to retrace back to the critical resistance level in order to enter short. But last Friday the pair corrected with a strong bullish candle which created fear amongst sellers about the validity of the critical resistance level at 1.10420. Traders are advised to enter short at that level with a bearish ... (read more)

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