EURUSD Forex Forecast (22-26 October 2012)

Forex forecast for EURUSD for next week — 22-26 October 2012

Recommended Brokers Forex with MetaTrader 4

Analyze closing the week on important price levels in the chart of the Euro-Dollar:

1) The week closed white combination with a long tail on top, but still above the blue trend line long suspected spark correction at least.

2) Friday closed the black candles, but still higher than the background gray channel.

Hence motion next week maybe down for at least retest important levels — gray + blue channel trend lines long, but the opportunities and eliminate the up, I would not!

Now let’s take a closer look at options for the price movement, both up and down, and the most significant levels of resistance to the price movement on the euro-dollar.

First of all, it should be noted that the currency pair EURUSD formed a lot of lines of resistance, although it is quite normal in the formation of correction. Based on this, I want to highlight some of the most important lines on which we are primarily concerned with the closure of the day. And depending on how close the day, most likely, and will depend on further movement considered a currency pair. And so, it is following a trend line or channel:

1) The upper and lower channel line gray background.

2) The green line is the long-term channel.

3) The blue line is the long-term trend.

4) Red long-term trend line.

6) The top line of orange background channel.

All other lines and resistance levels are just as important, but in the least!

Variants of the resistance for the price, on motion, below the closing price of the week:

1) First of all, the price went up to a level of 38.2% Fibonacci clusters of yellow and green. Lights out is quite possible for a minimum retest light brown channel.

2) The blue line is the long-term trend of + 61.8% Fibonacci red (upward movement last week) + so it could be a retest of the gray line of the channel. End call up experience as a buy signal. Break down daily close below these lines + retest these lines from the bottom-up — taken as a signal for future sales.

3) The accumulation of Fibonacci 61.8% of orange and green colors + maybe it will retest brown line upstream or gray line background channel — it all depends on the time of arrival price. Similarly perceive prices approach the top — as a signal to buy, even if temporary, breakdown and retest trend lines or channels — from the bottom-up, as a signal for the sales.

4) The red line is the long-term trend — already described above signal.

5) Lower the blue channel line — as important line, because it restricts the movement at this point all correct, and assuming that the maximum of the last week — the pinnacle of the point «B» (ABC type of correction), it would be exactly the point C on this line (although possible deviations).

Similarly perceive approach from above as a signal to buy, at least temporarily, and preferably in the presence of additional signals. Break down the line + retest the bottom-up — a signal to sell, although there is also a less important levels soprotivdeniya …

6) The upper limit of the background orange channel.

7) The lower boundary of the background gray channel.

8 ) The blue line is the long-term channel, these lines I have written in the past, forex forecast, so I will not dwell specifically.

Variants of the resistance, and hence the signal for forex transactions for buying and for sale, above the closing price of the week:

1) The upper limit of small purple channel for sale, I would not recommend using it, but in case of breakdown up and retest the top-down you might consider shopping with the immediate goal of at least — retest light brown line of the channel.

2) retest the light brown of the channel + level of 38.2 or 61.8 from Wednesday to Friday — consider options sales.

3) The upper blue line green line channel Canal + + long-term level of 38.2% Fibonacci retracement of blue — are considering sales options, especially if the day closes below these lines + retest is their bottom-up.

Break long Green Line + daily close above it and retest the top-down — considering purchase.

Although hang down when I lift the maximum census September 17, 2012, even before the turn of the trend, which is why waiting for the closing of the day!

4) The black line is the upper channel — it’s also a significant channel line, it held on the 3 important extremes: minimum 2 — 7/24/12 + + 01/13/2012 maximum of downward movement in the green channel — 29.08.2011 year.

We are interested in the closure of the day on this line, hang up and closing down of the day below the green — will pave the way to sales, at least temporarily. Break up and retest — further upward movement is most likely!

For most long-term perspective, it is necessary to wait for the closing weeks of the month and it is desirable with respect to this line.

Although I must admit, that despite the fact that I gave it more priorities sales recently on EURUSD, now do not rule out the possibility of continuing the upward movement after the breakdown of the black channel line up! With immediate objectives — 1,3490-1,3830 and even 1.40 …

This is not in any way call for long-term purchases, but just the possible prospects of EURUSD in case of breakdown of green and black channel lines long.

At this point, it is all the forex forecast for next week.

Do not forget to see the comments on the site and if you have any thoughts on the market, so also will be glad to see them on the site.

At this point until the entire forecast for the next week …

Download a template for MetaTrader 4 for EURUSD — 21_10_2012_eurusd.tpl (previously to decompress and put in the MT4 terminal or download the chart: If you «get off» trend lines, channels, reformats them according to pictures in the forecast)

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