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Forexpros Daily Analysis - 10/11/2010
ForexPros Daily Analysis
November 10, 2010
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On daily, testing its
extension long at 1.3808. Line in sand is at 1.3696. If we break below, longs
On 15 min chart, in measured moves short. Cannot go long,
until shorts are broken.
Next 50% short, an extension short, at 1.3822,
which coincides with Daily Pivot at 1.3832.
Line in sand at 1.3845. Must
remain short until shorts are
On daily chart, the pound
pulled back to its next traditional setup at 1.5975. Line in the sand for longs
On 15 min chart, also in measured moves short. Reacting to
extension short at 1.6013. Line in sand is full 50% at 1.6068, with 61.8% at
Testing its next
extension short at 81.50 and looks ready to break through. If breaks, we will
look for next long setup.
Forex Trading analysis written by
Diana Rochford for Forexpros.
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Futures and Options on Futures and Cash Forex
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