Euro at yesterday’s range – Technical Analysis – 11-11-2015

The EURUSD pair declined recently to touch 1.0674 level, bouncing higher from there and reduce its losses at the end of the day, to rise today and return to trade within yesterday’s range below 1.0757, this level represents 76.4% Fibonacci of the bullish wave from 1.0462 to 1.1713, with positive divergence formed by stochastic, which shows the hesitation of traders and the attempt of the domination of the buying powers now.

Therefore, we expect a correctional rise in the coming trading, conditioned by holding above 1.0757, targeting 1.0940 resistance that represents 61.8% Fibonacci of the above mentioned wave.