EUR/USD for December 02,2019 – Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029

EUR rejected of our main multi pivot resistance at 1.1109. As I mentioned, after the price reached Pitchfork median line, we would form several smaller swings before new direction.

Full focus is now on the support at 1.1066. The potential downside breakout of support may lead for test of 1.1029.

MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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