[KostiaFM]

Forecast for EUR/USD on November 11, 2021

The euro fell by 113 points yesterday, which confirmed the variant with the formation of convergence before, as expected, a reversal into medium-term growth. The target of the movement is the 1.1448 level - the high on March 17, 2019. The price may move below the level, for example, to 1.1420, this is the level of the peaks of June 2020 and June 2019.

Of course, the strengthening of the dollar across the market was associated with a strong increase in the CPI in October estimates to 6.2% (forecast 5.8%), but the Federal Reserve needs to get data on the real sector to change its sentiment, and such data as retail sales, growth industrial production, the volume of civil construction will be next week. Investors also need this data, and therefore, after yesterday's rally, they can take a break.

On the four-hour scale, the price settled under the balance and MACD indicator lines, the Marlin Oscillator has already deeply entered the downtrend zone, so we expect the decline to slow down. We are waiting for the formation of technical reversal signs.

Forecast for GBP/USD on November 11, 2021

The British pound fell by one and a half figures yesterday, reaching the Fibonacci level of 123.6% with the formation of convergence with the Marlin Oscillator. But more precisely, the convergence has not yet formed, only the conditions of its probable formation have been fulfilled, in order to return the price to the initial levels in the area of the Fibonacci level of 100.0%. The price may still continue to decline and reach the next level of 138.2% at the price of 1.3313.

On the four-hour chart, the convergence of the price with the oscillator is also ready to form. This circumstance tilts the probability of a price reversal up from approximately current levels to 60%. But you need to wait at least a day for the market to cool down and give clearer indications of its intentions.