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Sell EUR/USD | Nov 25, 2019

Updated: Nov 29, 2019

On D1/daily time-frame:

From point C, EUR/USD has fallen way more than 61.8% of BC and closed well below it. If it was supposed to continue rallying,it should have fallen to an area around max 61.8% retracement level of BC and should have returned.

It has closed well below Trend Predictor, which shifted trend to bearish. It is not oversold until around 1.0980 area.

Therefore, now it is more likely to continue falling.

On H1/hourly time-frame: We can enter sell at 35% retracement of yesterday's fall/the recent move down. Previous lows make confluence resistance with FIB50.0 of the recent move down, so if it returns back and H1 candle closes above the confluence resistance; this sell setup will become invalid. We are just targeting round no. 1.10000 (+spreads), although price may fall to extended targets, such as ABCD61.8, target of double top & 127.2% of BC.


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