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Forexpros Daily Analysis - 29/11/2010

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Nov 29, 2010.

  1. forexpros2

    forexpros2 Member

    Oct 20, 2009
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    ForexPros Daily Analysis November 29, 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

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    Forex Trend Analysis

    The EURUSD is bearish for this week and will look to move down.

    Forex Technical Analysis

    Daily Chart
    The EURUSD has moved down quite alot for the last week and has now hit the Fibonacci 0.382 support level. At the same time, this level is in confluence with a major support level.

    4 Hourly Chart
    On this time frame, the EURUSD has reached the 1.272 Fibonacci extension level after retracing to 0.618 Fibonacci level.

    Overall Forex Analysis
    There may be some upward movement due to the confluence of support of 0.382 on the daily chart and 1.272 on the 4 hourly chart.


    Forex Trading analysis written by Kelvin Lee for Forexpros.


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