ก้าวสู่โลก FOREX: 11/19/12

Weekly Forex Price Action Chart Outlook for November 19th – November 23rd 2012

EURUSD – Euro/dollar trading just below resistance

The EURUSD is still moving lower overall, however last week we saw the market stage a modest rally after finding support at 1.2660 and then forming a bullish pin bar / fakey from that level. The market then rallied up into 1.2800 key resistance but was unable to close above that level last week. This week, if the market remains contained below 1.2800 we will expect the downtrend to remain intact. If the market rallies and closes above 1.2800 however, it would open the door up for more gains.

Credit : Forex Trading Commentary by Nial Fuller

EUR/USD Forecast November 19, 2012,By FX Empire Analyst - Christopher Lewis

The EUR/USD pair fell during the session on Friday, but did bounce off of the 1.27 support level. The resulting candle is somewhat like a hammer, and does show some support in this general vicinity. However, we think that the headline risks over the next couple of weeks will more than likely make is a very short-term traders market. We suggest that a bounce could come from here, but 1.28 will more than likely cause some type of resistance as well.

With that being said, we think that the market will be very tight, and short-term charts should be used if you feel the absolute need to be in this market. Going forward, we will need to see some type of serious breakout, and we think that the Tuesday hammer below would be an excellent selling signal if we can get below it. As far as buying is concerned, we need to clear the 1.28 level handily on a daily close.