EURUSD Forex Forecast (October 29 — November 2, 2012)

Dealing Center NordFX

Forex forecast for EURUSD for next week — October 29 — November 2, 2012

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

1) The week closed the black candles, body absorbing the previous candle.

2) The week closed below the blue trend line and long brown below the channel.

Therefore we can assume that the priority of sales that are still in the correction of movement with a minimum of 07/24/2012, that is, within the background channel.

But given that this movement is still correcting for this moment, and then continued upward trend is also possible …

It should also be borne in mind that the environment will be a month! Hence on its closure will be judged on the further movement.

At this point, like a candle in the same month to retest dark blue trend line and if the month is so close, then move down the most likely!

Now I will try to describe the most significant levels of resistance, from which possible otboi both up and down.

Variants of the resistance, the price moves above the closing price of the week:

1) At this point, I would recommend to consider options for shopping only in the breakdown and closing hours, and better H4 or D1 candle above the dark blue + brown + long gray line of the descending channel, and even better at retest down the highest, with each other.

In the approach to these lines from the bottom and the formation of topping combinations or sliding door stop candle down, you can try to sell, if you have data confirmation.

For example the price may go up to the gray + brown and fight off her down.

The same signal is the price to approach the line of dark blue + brown retest channel upwards.

2) The level of 61.8% of the move down from a maximum of 17 October 2012.

3) The green line channel long-term (I wrote about it in detail in the past, forex forecast).

4) The black line channel (upper) — similarly described this level in the past forex forecast and talk in detail about it in the video projection.

Next resistance levels do not consider …

Variants of price below the closing price of the week:

1) Purple Line Canal and retest the bottom-up — consider options for further sales down. Up until the purchase of the options under consideration, purple, because I believe that the need to buy higher accumulation lines of (1 — see above).

2) Pink trendline + level of 161.8% Fibonacci brown + is quite possible it will be the bottom line of gray downlink. Break pink line down and retest the bottom-Move U— further sales.

3) The red line is the long-term channel — consider options purchases (interested in the same day concerning the closure of the line) + maybe it will be a gray line channel. Break the red trend line and a daily close below this line + retest its bottom-up — consider options input for sale.

4) Bottom line background blue channel — possible hang up, but it is better to purchase an option to consider when will retreat from the 38.2% Fibonacci brown orange background below + channel below and return up in the background of this channel + retest same line background blue channel.

Break down the channel background — consider selling is possible, but to the level of 38.2 and an orange background channel.

5) The level of 38.2% brown channel

6) The upper limit of the channel orange background — an approach from the top level of + 38.2% Fibonacci — consider buying! Break down, closing the day below the orange channel and retest the bottom-up — are considering selling.

7) The 61.8% Fibonacci Brown

8 ) The upper limit of the blue channel (already described this policy in the past, forex forecast for EURUSD).

  • Download a template for MetaTrader 4 for EURUSD — 28_10_2012_eurusd.tpl (in the archive. If «get off» trend lines, channels, then reformats them according to pictures in the forecast)
  • Share/Bookmark

If you liked this Forex strategy - You can subscribe to receive new materials on the site Strategy4forex.com by RSS or by e-mail:

Post a Comment