|
Daily Forex Reports |
Written by iFOREX.bg |
Friday, 13 November 2009 07:26 GMT
|
EUR/USD Open 1.4857 High 1.5015 Low 1.4825 Close 1.4845
After the climb on Wednesday, on Thursday Euro/Dollar made a deep
correctional downward movement from the 1.5015 top down to 1.4825,
closing the day at 1.4845, eating all the rise from the beginning of
the week for 1 day.This indicates entering into consolidation after the
significant bullish momentum. Short term signals are expected to be
neutral, but the bullish scenario still remains intact, as seen on the
3 hour chart. The nearest support is represented by the the bottom line
of the ascending channel at 1.4825. Break bellow may deepen the
downward correction towards 1.4700 and potentially threaten the bullish
outlook. We need a clear break above yesterday's top 1.5045 to confirm
the ascending scenario towards 1.5170, followed by 1.5300. The CCI
indicator is positive on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.5045 1.5170 1.5300
Technical support levels: 1.4825 1.4700 1.4570
Trading range: 1.4880 - 1.4820
Trend: Downward
Sell at 1.4870 SL 1.4900 TP 1.4830
Yesterday we made +20 pips profit on EUR/USD from the following signal:
5:36 GMT+1 Buy EUR/USD at 1.4991 SL 1.4965 TP 1.5041 exited at 6:56 GMT
Total yesterday +103, as shown in details here.
Disclaimer: Please note that
our technical analysis is not daily/evening forecast, neither a trading
signal. Therefore the expectations shown here may differ from our
forecasts and signals, to give readers different point of view.
Written by iFOREX.bg
 |
