02:23Forex forecast . Overview of the euro / dollar on 21/10/13
Technical, fundamental analysis of the situation and the forecast for today.
Today started with asset accumulation, which continues to this day , I recommend to focus on active purchases pair. Short positions are the major players have accumulated in the range 1.3660 - 1.3680 could easily result in an upward price channel and completely give priority bulls . The boundaries to which the price will be , actively seeks a range of strong positional resistance 1.3740 - 1.3770 .
It is this mark limits the sector increased interest in 1.3786 - 1.3800 from the rest of the secondary series of prices. Volumetric analysis indicates an active depletion of the downtrend. Candlestick analysis is also on the side of the bulls, however, the two 30-minute bearish candle , which closed at the same level and not touching 1.3665 , will lead to a correction below this price mark . In general, the market is quite dynamic follows its basic laws , which reflects the current trend of one-pointedness .
Forex forecast on the side of the bulls with the primary purpose of 1.3740 and 1.3770 priority mark . As I wrote earlier , the weakening of the American currency reflects the situation qualitatively with loose monetary policy , which states seek to continue .
STRONG BUY , you can now (if is the case , it is better to buy , below 1.3665 ) , large short positions may open in the range 1.3775 - 1.3800.
The fundamental outlook for the EUR / USD
Day is not happy colorful news releases , which indicates the continuation of the current tendency and the absence of the state of balance in the market. The only important factor that has had an impact on the world market ( indirectly with the concept of correlation ) is a statistic index of leading economic indicators released in Japan today at 9:00 am EDT. Continued dynamic growth of the European currency , objectively , although difficult to predict the near future .
Conclusion: an analytical review and forex forecast for today: medium-term priorities on the side of the bulls, the target ( 1.3740 , 1.3770 ) , the start of the growth is likely only after the downward correction , the range of 1.3660 - 1.3670 . 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 :
1.3661 , 1.3645 , 1.3588 , 1.3611 , 1.3713 , 1.3740
Attention : This analytical article is not a guide to action and reflects the personal opinion of the author.
Shikhaliyev Farid , Analytics Forex Market
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