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Forexpros Daily Analysis - 24/11/2010

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Nov 24, 2010.

  1. forexpros2

    forexpros2 Member

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    ForexPros Daily Analysis November 24, 2010


    Free webinar on ForexPros - How to trade during volatile markets

    Expert: Nour Eldeen M. Al-Hammouri

    Start: Tue, Nov 30, 2010, 10:00 ET
    End: Tue, Nov 30, 2010, 11:00 ET

    In this webinar we are going to give you some simple strategies and indicators which can help daily traders to profit from volatile markets. And we will talk about VIX chart and how it is an indicator for USDX bullish patterns


    Click here to join free

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    Forex Trend Analysis

    The trend for EURUSD this week is DOWN and we will be looking for SHORT trading opportunity.

    Forex Technical Analysis

    Daily Chart
    The price has crossed below the 200 EMA and is moving back up to retest the new resistance level.

    Hourly Chart
    There are several major resistance level on this time frame at around 1.34607. It consists of 2 Fibonacci and 1 Daily Pivot Level.

    Overall Forex Analysis
    I will look to go SHORT if the price is unable to break above the 1.34607 resistance levels.

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    Forex Trading analysis written by Kelvin Lee for Forexpros.

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    New on Forexpros the
    Forex Brokers Directory!

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    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex
    transactions involves substantial risk of loss and may not be suitable for
    all investors. You should carefully consider whether trading is suitable for
    you in light of your circumstances, knowledge, and financial resources. You
    may lose all or more of your initial investment. Opinions, market data, and
    recommendations are subject to change at any time.
     
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