Euro shrinks its positive chance – Technical Analysis – 10-11-2015

The EURUSD pair rose recently as expected, despite the continuous negative pressure of the moving average 50, affected by exiting the medium term ascending channel, depending on forming positive divergence on stochastic,  besides leaning on the key support 1.0757 that represents 76.4% Fibonacci for the medium term bullish wave from 1.0462 to 1.0713.

Therefore, the price decreases its positive chances after this closing, as it couldn’t settle above 1.0757 level, thus, we will stay aside now waiting to step above this level to target 1.0850 resistance.