EURUSD technical analysis 13.11.2019

The pair has formed a double top reversal pattern and is trading above 1.1000. It may continue to decline following the release of data on the US inflation which is expected to grow stronger in monthly terms from 0.1% in September to 0.2% in October.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located above the oversold zone and moves horizontally. Stoch unfold upwards.

Trading recommendations:

If the inflation data is positive for the dollar, it can push the pair down below the level of 1.1000. In this case, it will continue to drop to 1.0965.