EUR/USD remains under bull control as of 01.11.2019
14:33 EUR/USD remains under bull control
The pair EUR/USD, after the growth since the beginning of trading to $1.1165, lost all the positions and fell to $1.1140. The pair continues to trade around the high of October 22 and 24. EUR/USD has risen above the MA (200) H1 ($1.1120) moving average and is trading well above MA (200) H4 ($1.1035) on the four-hour chart, remaining under bullish control. In this situation, it is worth adhering to the northern direction of trade and looking for points of exit to buy.
- Resistances are at $1.1175-80, $1.1230-50, $1.1280
- Support levels are: $1.1120-30, $1.1070, $1.1020
The main scenario of the pair’s movement is a breakthrough of resistance at $1.1175-80 (highs of October 21 and 31) and growth to $1.1230-50 (highs of August 6-13)
Alternative scenario – breakthrough of $1.1120-30 (minimum on October 31, MA (200) H1) and downward movement to $1.1170 (maximum on October 25 and 29)