Volumetric analysis on November 09

EUR/USD

Yesterday’s US session showed that the initiative was in the market for buyers, and the area of ​​support we assumed was not such. The picture is worsened by the fact that in the older time periods the pair is in a side space, and according to the volumetric analysis it moves from the volume edge to the edge altogether, reducing the chances of our assumptions being correct. However, at yesterday's decline in quotations, it is possible to distinguish the price range of 1.1400-1.1445, where sellers were active and the interim balance was 1.1370-1.1385. And therefore, we have two ideas. The first one is more risky - wait for correctional growth in a small range of 1.1370-1.1385 and sell there for the purpose of 1.1340. And the second is to wait for a more substantial correctional growth of 1.1400-1.1445 and from there sell to 1.1340. The probability of updating the 1.1300 minimum is not laid this week, and the appearance of a price above 1.1445 cancels all our scenarios and returns a pair to the outset structure.

USD/JPY

On this pair, you can try to implement the second part of yesterday's scenario. The fact is that the breakdown of the maximum was a matter of time, since there was almost no volume there, respectively, this breakdown occurred yesterday. At the time of the update of the maximum, we saw accumulation in the price range of 113.75-113.45. Today we can perceive this balance as support, and in the event of a corrective decline we will buy there, and count on continued growth to the level of 114.25. This idea fits well with the general background of the growth of the US dollar. But the price reduction below 113.45 will speak about the end of the trend. In this case, further forecasting of price movement is best left for next week.

 


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