ForexPros Daily Analysis November 18, 2010
Euro Heading to Next Setup, Pound in Short, Yen In Long
Euro: On daily, bouncing off next 50% traditional long at 1.3430. with target at 1.4679.
On 15 min, next 50% at 1.3611, with target to 1.3369. If we break, then wouldn’t be unexpected to go Full Half Way Back at 1.38633, creating a short squeeze.
Pound: On daily, broke through daily long towards next full 50% traditional long setup at 1.5797.
On 15min chart, in short setup, next 50% at 1.596, with target at 1.5781.
Yen: Holding it long setups, since it bounce from near all time lows.
Currently in the next traditional 50% at 82.078. Line in sand is 83.754. Target 78.86.
In shorter term, holding its long setups. 82.97 is the next 50% that is holding the yen, with target at 83.93.
—
Forex Trading analysis written by Diana Rochford for Forexpros.
—
New on Forexpros the Forex Brokers Directory!
—
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.