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101.970

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1.08671

0.22%

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EURUSD : Potential Forecast For November

Forex MarketTraders' Opinions
Summary:

The EUR/USD broke the falling resistance last week and went up, but is now pulling back to retest it before forming a new bullish leg.

Buy EURUSD
End Time
CLOSED

0.99000

ENTRY PRICE

1.02000

TGT PRICE

0.98000

SL PRICE

1.08671 -0.00238 -0.22%

1000

Points

Loss

0.98000

SL PRICE

0.97998

CLOSING

0.99000

ENTRY PRICE

1.02000

TGT PRICE

EURUSD : Potential Forecast For November_1
There is a chance that EUR_USD will retest the broken downward channel at the confluence of 50% fibonacci , a resistance level that could become support, and an upward trendline acting as diagonal support. In my opinion, the pair is going to rebound and move upward to the 0.27% fibonacci extension zone, which will make me bullish on the pair.
A recent rally may have changed the direction of the EUR/USD, which has been in a long-term bear market since February.  Euro traders may be able to reach the 1.035 level from August if the Euro takes out the September highs of 1.0200.

TRADE RECOMMENDATION

BUY EURUSD
ENTRY PRICE  :0.9900
STOP LOSS : 0.9800
TAKE PROFIT :1.0200
EXP : 14 NOVEMBER
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

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Warren Takunda

Analyst

Warren Takunda is the chief analysts and trading mentor of Forexway. He is a professional trader specializing in gold, cryptocurrencies, and forex. Familiar with the market and equally able to succeed in times of upswing and downturn. Skilled in training other personnel in methods of Forex trading and developing educational materials to assist in training.

Rank

11

Articles

63

Win Rate

38.64%

P/L Ratio

1.26

Focus on

XAUUSD, EURUSD, EURCAD

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