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NZD/USD Intraday technical levels and trading recommendations for November 8, 2017

November 8, 2017 Forex analysis review 0

Daily OutlookA recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.This resulted in a quick bullish advance towards next price zones around 0.7150-0.7230 (Key-Zone) and…

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Intraday technical levels and trading recommendations for EUR/USD for November 8, 2017

November 8, 2017 Forex analysis review 0

Monthly OutlookIn January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.In March 2015, EUR/USD bea…

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Analysis of Gold for November 08, 2017

November 8, 2017 Forex analysis review 0

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Recently, Gold has been trading upwards. The price tested the level of $1,282.40. Anyway, according to the 15M time – frame, I found successful rejection from pivot resistance 1 at the price of $1,280.70, which is sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,270.90 (pivot support 1) and at the price of $1,266.48 (pivot support 2).

Resistance levels:

R1: $1,280.70

R2: $1,286.24

R3: $1.290.64

Support levels:

S1: $1,270.90

S2: $1,266.48

S3: $1,260.85

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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