ก้าวสู่โลก FOREX: 11/26/12

Weekly Forex Price Action Chart Outlook for November 26th – November 30th 2012

EURUSD – Euro/dollar surges higher on fresh bullish momentum

The EURUSD moved significantly higher on Thursday and Friday of last week after forming a bullish pin bar on Wednesday that pushed the market back into its previous trading range between about 1.3150 resistance area and 1.2800 support. This week, if the bullish momentum continues, the market will face some near-term resistance around 1.3020, beyond that we see key resistance between 1.3130-1.3170 area. In the near-term, if this market pulls back to support near 1.2825 area and forms an obvious 4 hour or daily chartprice action buy signal, we would consider a long entry to trade back up towards the resistance we just discussed and in-line with the fresh bullish momentum in this market. We would also consider selling if the market moves up into one of the resistance levels just mentioned and forms an obvious 4 hour or daily chart price action sell signal.

Credit : Forex Trading Commentary by Nial Fuller

EUR/USD Forecast November 26, 2012,By FX Empire Analyst - Christopher Lewis

The EUR/USD pair rose during the session on Friday as the Euro continues to gain. Overall, the currency looks very strong at the moment, and it appears that we are heading towards the 1.3150 level before it’s all said and done.

This is the top of the recent consolidation area, and it appeared to the 1.27 level is going to act as support based upon longer-term charts. With that being said, a breakout above the 1.3150 level seems unlikely before the New Year’s though, as there will be less and less trading going forward. Also, there is also the possibility that the United States government will choose to go over the so-called “fiscal cliff”, which ironically will cause a flood into US Treasuries, pushing the value of the Dollar higher. With that being said, we do have potential to have a strong downdraft in this pair, but more than likely we will simply see it bounce around as fears focus on one side of the Atlantic versus another, and then vice versa.