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Forex forecast . Overview of the euro / dollar on 24.10.13

Technical, fundamental analysis of the situation and the forecast for today.

Euro gradually turned into a state of the market balance at the boundary resistance 1.3786-1.3790 . In such a situation, is essential structure of open positions in the market, which is currently on the side of the bears , and this in turn will raise the price of the asset. The media today will help to move the market forward. Data will be published with regards to the index of business activity in the manufacturing and services sectors .

Such statistics will affect the market as follows , in case of positive data for the European economy - increase in the indices , the Euro will rise a few levels , and then collapses down completely opposite scenario for return statistics. Continued lidirovaniya bulls reflected in the bulk structure of the market , the downward trend is more depleted than the bull . Candlestick analysis indicates an increase in the asset.

In general, is a familiar sight bovine priority against possible downward correction . The levels and ranges , which will meet on your way bears (in the case of corrections ) : 1.3775-1.3777 , 1.3750 - 1.3760 (strong support). Resistance in the range of 1.3825 - 1.3830 ( strong resistance and the primary objective for the bulls ) , 1.3870 - 1.3880 (critical resistance) , 1.3900 - a mark of a turn , a strong accumulation of long positions at this time will lead to a strong drop in prices is likely in the corridor 1.3820 - 1.3825 .

The fundamental outlook for the EUR / USD

News background is actively promoting the fall in asset prices , which leads to its continuous growth. If today's statistics is positive asset will fall in price. Equally important is the data packet on U.S. new home sales and the trade balance will shift the asset against the trend of the evening, although it depends on the situation in which the market will be by the time ( 16:30 GMT) .

Conclusion: an analytical review and forex forecast for today: medium-term priorities on the side of the bulls, the target ( 1.3825 , 1.3880 ) . Downward trend will manifest itself as a corrective component . 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 :

1.3761 , 1.3743 , 1.3788 , 1.3825 , 1.3880 , 1.3901 .

Attention : This analytical article is not a guide to action and reflects the personal opinion of the author.

 Shikhaliyev Farid , Analytics Forex Market

Category: Forex Forecasts | Views: 799 | Added by: Tyler | Rating: 0.0/0

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