Блог NagarajaAdiga

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Analysis

As expected, yesterday's movement in euro and pound were bearish. Expecting the market to be bearish ahead of US election result. Seeing a resistance at 1.1060-1.1065 zone, Euro may test 1.095 levels and pound can test 1.2250 levels, once it start trading below 1.238 levels.
Today's support for pound is seen at 1.2345, 1.2305 and for euro it's 0.1 and 1.097 levels.
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Bullish EUR

For the long term, EUR is looking bullish with daily chart showing a strong channel and higher low trend line. By next month end EUR is supposed to test the previous highs made in the months of October and December which after breaking out turned out to be a support in April for a brief period. Currently we are expecting the market to touch a level of 1.3790 before correcting again till 1.35 or lower.
Even on a four hour chart EUR is making a symmetric triangle which breaking above would test t…
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