FX.co ★ EUR/USD analysis for November 11 2020 - Potential for further downside continuation due to strong downside pressure

• Both sides need to compromise on fisheries in Brexit talks
• Some progress made on level playing field issue
• But quite possible this could fall apart, it would not shock me

This just reaffirms the earlier story that the mid-November "deadline" has now been pushed to late November instead. And so the saga continues..

Further Development

Analyzing the current trading chart of EUR, I found that EUR is heading towards our main downside target at the price of 1,1625 with strong momentum.

My advice is that you watch for selling opportunities on the rallies under this condiiton with potential stop at 1,1830 and target at 1,1625.

Additionally, there is the short-term downside trend....

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Lumber and Ethanol today and on the bottom VIX and Platinum.

EUR is negative on the list, which is another confirmation for the weakness.

Key Levels:

Resistance: 1,1830

Support level: 1,1625