ForexPros Daily Analysis November 18, 2010
Euro Heading to Next Setup, Pound in Short, Yen In Long
Euro: On daily, bouncing off next 50% traditional long at 1.3430. with target at 1.4679.
On 15 min, next 50% at 1.3611, with target to 1.3369. If we break, then wouldn’t be unexpected to go Full Half Way Back at 1.38633, creating a short squeeze.
Pound: On daily, broke through daily long towards next full 50% traditional long setup at 1.5797.
On 15min chart, in short setup, next 50% at 1.596, with target at 1.5781.
Yen: Holding it long setups, since it bounce from near all time lows.
Currently in the next traditional 50% at 82.078. Line in sand is 83.754. Target 78.86.
In shorter term, holding its long setups. 82.97 is the next 50% that is holding the yen, with target at 83.93.
Forex Trading analysis written by Diana Rochford for Forexpros.
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