EURUSD – Monthly Forecast Nov 2013

EURO-Dollar-min

Recommendations: SHORT positions below 1.3870  with 1.3472 & 1.3104 as next target.
Alternative scenario:The upside breakout of 1.3870 will call for a rebound to 1.4025/1.4375.
Description:Although the EURUSD broke above 1.3710 last month, but the pair failed to hold above the 1.3710 levels, this scenario suggests a big reversal might be on the way , support comes at the 1.3471 levels , losing this level on a monthly basis would build strong pressure on the 1.3104 levels, losing this level would open 1.2745 levels.On the upside, stability above the 1.3471 on a monthly basis could mean a return to the 1.3832 levels, break of 1.3870 would open 1.4025 /1.4375 levels ahead of the 1.5000 levels.

Support and resistance levels (Monthly) : 1.2042 , 1.2745 , 1.3104 , 1.3283 ,1.3471, 1.3710 ,1.3832, 1.3870 , 1.4025 , 1.4375 , 1.4866 , 1.4940 , 1.5140

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

2 COMMENTS

Comments are closed.