EUR/USD Continued To Trade, Forming A Triangle
Masterforex-V | Nov 17, 2014 03:13AM ET
The EUR/USD continued to trade in the Forex market in the range Friday-Monday, forming a triangle. Yesterday, out of the triangle does not take place, maybe it will happen today. Recommendations remain the same, slightly corrected.
"On this week is traditionally considered two options for possible price movement, basic red and green alternative," - said the expert of the Forex Broker Company (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Significant levels for today, November 13, 2014, marked on the hourly chart. AO indicator is in the negative zone and is growing, indicating correction of a possible continuation of growth. Trend indicator indicates a depreciation of the exchange rate of the euro - US dollar on the Forex market. Overcoming the level of 1.2415 will allow to sell to the objectives of 1.2395, 1.2365 and 1.2305.
Target intraday support at 1.2420 reached, in line with expectations. As can be seen, the price strayed from support, to confirm the presence of a strong level in a designated place. Euro continues to stay above the key level - 1.2384. Today, we should mark the following resistance: 1.2465, 1.2495. Securing the course of the currency pair Euro - US dollar on the Forex market higher elevation data will pave the way for further strengthening within the short term.
Current highs will target: 1.2604 and 1.2624. In the framework of the medium term is expected to continue the devaluation of the currency pair Euro - US dollar on the Forex market, the target minima are: 1.2132 and 1.2075. Significant reinforcement sellers receive after securing lower - 1.2384. Continues to build convergent horizontal triangle, according to previous assumptions. In the near future it is expected that we will see the completion of the correctional wave D, and the pair in a small zigzag E. When all wave (4) is completed, the price decline will continue in the new downward momentum (5).
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