11:37Forex Forecast. Overview of the euro / dollar on 29.10.13
Overview of the euro / dollar on 29.10.13|
Technical, fundamental analysis of the situation and the forecast for today .
At the moment, the Euro is trading within the accumulation of long positions to leap down to for the fall of the asset is likely to be a mark enhanced support level 1.3750 and then 1.3725 and ! Volumetric analysis bears on the side with the same objective . The candles on the 4- hour chart also indicates a strong bearish potential, which originates above marks strong resistance 1.3813 - 1.3825 . After a decline in prices in the above ranges European currency , likely to come into balance , and then activates the accumulation of short positions for short-term growth of the pair . In general, the asset has long been accumulating long positions for a future drop in price , with the primary goal for the downward trend is 1.3697 , which is evident in the analysis of the daily chart with MR. Forex forecast on the side bears the primary purpose of the main 1.3725 and 1.3750 . The fundamental background this is quite significant, at 16:30 Moscow time will be announced data on retail sales in the U.S., along with information about the level of trust consumers will be able to radically change the current situation in one way or another .
The fundamental outlook for the EUR / USD :
News background is strong enough , the statistics on the level of consumer confidence and retail sales in the U.S. will be able to move the market off the ground , slowly but surely, is formed in terms of the processes of accumulation of positions. Tactics and features on news of action are as follows:
1) The level of consumer confidence is growing - the dollar weakens.
2) Retail sales increased - the dollar weakens.
Again the end result of all information assumptions that give us the media. First of all, it is a way to move the market from a state of balance , and sometimes an extra push for action in the direction of the current trend. Today is likely to come out the reduced data with regards to the dollar and the U.S. economy. Will be reduced consumer confidence and retail sales will also fall , people will buy , and the price will fall down . But I remind you , the market environment and the dynamic it could change.
Conclusion: an analytical review and forex forecast for today: medium-term priorities on the side of the bears , the target ( 1.3750 , 1.3725 ) . The upward 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 :
1.3725 , 1.3750 , 1.3788 , 1.3820 , 1.3876 , 1.3902 .
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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