01.11.201915:56 Forex Analysis & Reviews: EUR/USD for November 01,2019 - Weekly analysis for EUR

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EUR price is still trading inside of the 2- week trading range between the price of 1.1176 (top of the range) and 1.1073 (bottom of the range).Most recently, EUR did test and reject of the resistance at 1.1176.

Horizontal lines – Important pivot levels

Last week left us almost inside week relative to 2-weeks ago and seems like this week will close inside of the previous week range. This is signal that market is waiting for new information from outside and that EUR is in the contracting regime.

For the buying opportunities you can watch potential breakout of the 1.1180 to confirm test of 1.1229.

For the selling opportunities you can watch potential rejection of the resistance and test of bracket low at 1.1073.

Middle Bollinger line is set at 1.1133

Trading recommendation:

Watch for potential breakout or rejection of the multi-week bracketing zone to confirm further direction.

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