Since 4h %R indicator is overbought, and price couldn't break Fibonacci resistance @·1,12491 we most probably may see a decline in EURUSD till 1,12250, however all timeframe trends show uptrend including 1-5-15-30-60-240 & D. It means we'll see 1,12789 and 1,13270 till 8 November.
1st trade: SHORT
After the supreme court's decision about the exterritoriality USDTRY dropped significantly.
I expect a small roundup* to 2,91 and testing 2,89 support. In case it breaks 2,89, 2,85 is the next station.
* RSI 20 buyers
Geo - Political News;
Due to Turkish Armed Forces trespassed the Syrian border without parliamentary approval, USDTRY has increased.
By the way, there are some rumours that presidency election is planning to be held in June 2016
In case, it gets covered by the strong red trend's bottom line as a ...
Scenario 1 (Green arrow)
In case it turns up from the bottom of the dark blue parallel channel (2,944), it will eventually move to 3,10. Strong resistence points are (2,988-3,06)
Scenario 2 (Red arrow)
In case it breaks the support of the turquiose channel, it will eventually test the 2,909 Fibonacci support. If ...