Thursday November 11, 2010 - 14:57:05 GMT
Share This Story
FXTimes - www.fxtimes.com
Intra-day Levels and Scenarios for Euro-Crosses 11-11-2010
November 11, 2010 â€“ Euro-Crosses Levels and Scenarios
Simple Moving Average(SMA) 50-period (red), 200-period (bold, gray)
RSI-14 with Simple Moving Average 5-period of RSI attached.
Elliott Wave Principles
Market and Price Action (patterns, candlesticks)
Multiple Time-Frame Analysis
Now that Euro-weakness has materialized, where will it go? Letâ€™s take a look at the EUR/USD, EUR/GBP, EUR/CAD, EUR/AUD, EUR/JPY, and EUR/CHF pairs .
EUR/USD has yet to break below 1.37 to give us a
definitive bearish signal outside of the very short-term (lower than 4H
charts). The RSI in the 4H chart also needs to break below 30. In this
scenario the market has a bearish outlook to at least 1.3350. Before
that, a strong break of 1.37 suggests a short-term swing towards 1.35.
Look for a pullback as it nears 1.35. A pullback fails to break back
above 1.39 suggests the market is ready to continue lower towards
1.3350. A break below 1.3350 suggests a slide towards 1.20 in the long
intermediate term. On the upside, if the market is supported at 1.37,
it can rally towards 1.3830. A break above that would suggest the
market is not ready to continue lower yet.
Continue...Fan Yang CMTChief Technical StrategistFXTimes
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."