EUR/USD BUY - 14/11/2017

14 พ.ย. 2017

EUR/USD continues trading near the resistance level/upper limit of the global consolidation. It is necessary to correct this level, now it is the level of 1.1673, which was tested by the price yesterday. In addition, it is necessary to highlight the presence of large volume accumulation in this consolidation, which gives us reason to believe that large players are gaining positions in it. Thus, the best scenario will be to wait for a breakdown of this range and only after that it will be possible to consider new deals on this instrument. Given that the price is exactly below the resistance level/upper boundary of the consolidation and did not show any reaction after its test, it is worth considering the breakout of this mark as the most likely scenario. If the price drastically breaks the level and movement is supported by large volume, then this will be an excellent signal for purchases. In this case, a stop loss should be placed below the breakout volume bar. The deal's potential is more than 150 points.

The bottom line: long positions after a sure breakout of the resistance.