EUR/USD Forecast November 7, 2016, Technical Analysis

The EUR/USD pair fell at the beginning of the session on Friday but turned around to form a slightly positive candle. The 1.1150 level above it should be resistance though, so at this point I’m not prepared to go long. I believe that exhaustive candles should appear, and once they do it could be a nice selling opportunity. Even if we break above the 1.1150 level, it’s likely that we will have a lot of noise in the market that makes the trade fairly difficult to hang onto as far as the volatility is concerned.

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