12:30Forex forecast . Overview of the euro / dollar on 12/09/13
|Forex forecast . Overview of the euro / dollar on 12/09/13|
Technical, fundamental analysis of the situation and the forecast for today.
The European currency went into a state of accumulation of short positions. As can be seen from the analysis of a 4- hour chart price made a small correction after trying to break strong resistance consisting of 2 major players interested price is 1.3715 and the 1.3726 mark .
I note that both clockwise and larger time periods indicate continued growth in the asset. In a flat market range 1.3700 - 1.3716 significantly increase entry into the market of large trading volumes at low prices , which means the intention to buy. Smaller players are trying to sell with growth that is fully consistent with a bull market . Candlestick analysis indicates strong buying sales when trying to reduce the price . A striking example of this is the sharp drop in prices after the news on Friday, which was immediately redeemed.
Support and resistance ranges allow us to make a simple conclusion with regards to future price prospects. If at least one candle will be the closing price above 1.3716 , it can be argued that the probability of high growth . Conversely reduction and closing the candle below the 1.3696 rate approximates to the bears .
Currently recommend sticking with a view to buying 1.3775 with a stop at 1.3680 . Sales can only activate on dips for 1.3680 .
Forex forecast for today on the side of the bulls, as a leading medium-term trend . Bears are present in the form of corrective waves .
The fundamental outlook for the EUR / USD
Newsflow not eventful and bears scant potential external liquidity , for this reason, a regular change in prices remains bullish move with small deviations in the correctional area ranges support. A strong blocking range bulls gives reason not exclude the possibility of a flat market for the day.
Conclusion: an analytical review and forex forecast for today: medium-term priorities on the side of the bulls target ( 1.3775 ) , the Bears are a priority corrective factor ( 1.3680 ) . See the proposed concept of trade and make appropriate conclusions.
Intermediate levels of support and resistance for today .
Thus, for a 30- minute analysis period :
1.3668 , 1.3680 , 1.3700 , 1.3716 , 1.3723 , 1.3775
Note: This article is not an analytical guidance and reflects the personal opinion of the author.
Shikhaliev Farid , Analysis and Market Forecasts Forex
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