The EUR/USD pair is trading outside the average monthly zone, which significantly reduces the probability of further decline.
An upward correction and a return of the pair to the borders of the average monthly zone should be expected in the near future. The main upward target is the level of 1.1313. Most likely, the price will return to this level by the end of November. The task is to wait for the formation of the "absorption" pattern of the daily level in order to be able to enter into purchases on the corrective movement.
Sales from current levels are not profitable despite the evidence of downward momentum, since the probability of a price return to the level of 1.1313 is 90%. It is necessary to wait for the false breakdown of the weekly low and the "absorption" pattern in the upward direction.The material has been provided by InstaForex Company - www.instaforex.com