Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs , Monday November 06 2023.
November 6, 2023 9:27 am
Even though on the 4-hour chart Fiber appears to be moving in a strengthening condition where this is confirmed by its price movement moving within a channel that has a slope that dips upwards and above its WMA 30 shift 2 which also has a slope that dips upwards, but with deviations appearing between price movements with the RSI indicator give an indication that in the near future, EUR/USD has the potential to plunge downwards where the level of 1.0611 is the main target to be aimed at and if the volatility and momentum are strong enough then the level of 1.0558 will be the next target to be aimed at but if it is on its way to If at these target levels EUR/USD suddenly turns stronger again until it breaks above level 1.0745 then the decline scenario that has been described previously will cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Even though on the 4-hour chart Fiber appears to be moving in a strengthening condition where this is confirmed by its price movement moving within a channel that has a slope that dips upwards and above its WMA 30 shift 2 which also has a slope that dips upwards, but with deviations appearing between price movements with the RSI indicator give an indication that in the near future, EUR/USD has the potential to plunge downwards where the level of 1.0611 is the main target to be aimed at and if the volatility and momentum are strong enough then the level of 1.0558 will be the next target to be aimed at but if it is on its way to If at these target levels EUR/USD suddenly turns stronger again until it breaks above level 1.0745 then the decline scenario that has been described previously will cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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