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EURUSD Weekly Forex Forecast 4th November to 10th November by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 1.1300, beginning of uptrend is expected.
We make sure when the resistance at 1.1615 breaks.
If the support at 1.1300 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.15095 on 2018-05-29 and the trough at 1.13005 on 2018-08-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI bounced from the uptrend #1 and it prevented price from more losses.
The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 41.
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