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EURUSD Technical Analysis For 9th November 2015

FX:EURUSD   Euro / U.S. Dollar
50 0 1
09 November 2015, EUR/USD            

EURUSD             Technical Analysis For 9th             November 2015
Technical View:
EUR/USD             is currently trading with a very slight Bullish bias. From the H4 chart, it is clear that, while the market fell like a brick, upward movements have been accompanied by weak bullish candles. Following the NFP results, the EUR markets fell significantly, and even close below are very significant support level 1.084, but is currently on a weak upward movements. Following the unanticipated results, we are still reluctant to go long on this pair. We however choose to remain short, but with a TP at 1.055. This downward movement is highly anticipated since another positively correlated pair, EUR/JPY             is already trading below a very significant weekly support 132.64.
Trade Recommendations:

Remain short in this pair but with TP at 1.055

Check the website for more information: https://freshforex.com/analitics/fresh-forecast/forex-correlation-and-Elliott-wave-analysis/issue_70182.html
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