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Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
DAILY ANALYSIS FOR EURUSD
Posted 11-13-2008 at 04:13 AM by FX-Forecaster.com
Bias: I feel this will be a down day towards 1.2328-47 but resistance at 1.2615 (max 1.2720-50) must cap
The break of 1.2476 did extend losses rather messily but only to 1.2437. However, while price remains below 1.2615 I still feel that additional losses are more likely and which should then provoke follow-through to 1.2392-15 minimum. Take care here as this could cause a pullback. Breach implies direct extension to 1.1328-47 where there is one significant target that suggests a reversal higher. Only breach of the 1.2328 low would trigger stronger follow-through lower for 1.2284 en route 1.2140-75.
For full analysis please open today's full report in PDF format.
The break of 1.2476 did extend losses rather messily but only to 1.2437. However, while price remains below 1.2615 I still feel that additional losses are more likely and which should then provoke follow-through to 1.2392-15 minimum. Take care here as this could cause a pullback. Breach implies direct extension to 1.1328-47 where there is one significant target that suggests a reversal higher. Only breach of the 1.2328 low would trigger stronger follow-through lower for 1.2284 en route 1.2140-75.
For full analysis please open today's full report in PDF format.
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