EURUSD – Weekly Forecast 25-29 Nov 2013

EURO-Dollar-min

Recommendations: LONG positions around 1.3475  with 1.3650 & 1.3740 as next target.
Alternative scenario:The downside breakout of 1.3400 will call for a slide to 1.3295/1.3104.
Description: The EURUSD  was rejected from 1.3400 levels 61.8% retracement of (1.3295/1.3578), printed a new support at this level, with this level intact , further upside couldn’t be ruled out, break of 1.3578 will accelerate the bullish move towards 1.3650 ahead of 1.3740, further out will aim the 1.3870 levels.On the downside , main support comes at 1.3400, losing this level on a daily basis will have large bearish implication towards 1.3295 ahead of 1.3104. NOTE that the pair is likely to top around 1.3650/1.3740 and 1.3870 levels so selling around those levels is recommended after rejection !

Support and resistance levels (daily chart) : 1.3104 , 1.3190 , 1.3295 , 1.3400 (main),1.3475, 1.3578 , 1.3650,1.3740 , 1.3832 , 1.3870 , 1.4025

Support and resistance levels (weekly chart) : 1.2042 , 1.2287 , 1.2660 , 1.2754 , 1.3104 , 1.3325 , 1.3546 , 1.3832 , 1.4280 , 1.4400, 1.4940

 

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  1. Just wondering, before I consider subscribing… is that this an actual, individually composed letter to each and every subscriber, or does each and every writer compose a single letter each individual week and send the same composition to all from the subscribers they’re assigned to write to?

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