< img width ="450 "src="http://qkfx.com/wp-content/uploads/2016/11/intraday-technical-levels-and-trading-recommendations-for-eurusd-for-november-23-2016.png"alt ="analytics5835804b6810a.png"/ > In January 2015, the EUR/USD pair moved below the significant need level near 1.2100 where historic bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was predicted towards 0.9450. In March 2015, the EUR/USD bears challenged the regular monthly need level around 1.0570, which had been previously reached in August 1997.
Later in April 2015, a strong bullish recovery was observed around the pointed out demand level. Next regular monthly candlesticks (September, October, and November) showed a strong bearish rejection around the area of 1.1400-1.1500.
Again in February 2016, the portrayed cost levels around 1.1400-1.1500 functioned as a substantial supply zone throughout the bullish pullback.That is why, recent bearish rejection was expected around the illustrated supply levels(note the monthly candlesticks of May, August, and October 2016 ). In the longer term, the level of 0.9450
will remain a predicted bearish target when the current regular monthly candlestick pertains to close listed below the portrayed monthly need level of 1.0570. The long-lasting outlook for the EUR/USD set stays bearish as the monthly chart highlights. Bearish persistence listed below 1.0825 is had to improve this bearish scenario.In September 2016, momentary bullish breakout above 1.1250 was expressed again, however apparent bearish pressure was used on the EUR/USD pair on September 16. Bearish closure below 1.1250 (supply level 1 )preserved sufficient bearish pressure and improved the bearish momentum to the cost level of 1.1000 (crucial level 1). On November 9, obvious bearish breakdown of the 1.1000 cost level happened(Shooting Star daily candlestick). Furthermore, further bearish decline below 1.0825(
Fibonacci Growth 100% )was expressed.The existing bearish perseverance listed below 1.0825 permitted even more bearish decrease to happen towards 1.0570 (demand level)where cost action must be expected short-term bullish recovery and a possible BUY entry.The price level of 1.0825(Fibonacci Expansion 100%) makes up a current supply level to be expected a SELL entry if any bullish pullback occurs.On the other hand, bearish closure below the depicted demand level around 1.0570 enables
more bearish decrease. Preliminary bearish target would lie around 1.0220. The product has been supplied by InstaForex Business- www.instaforex.com