Date: 12.11.2012 Time: 17:25 Rate: 1.2713
Daily chart
Last Review
EUR/USD Forecast- the price did correct the last downtrend (small arrow on the right) and immediately went back down while finally reaching the 1.27500 price level, which is a 38.2% Fibonacci correction of the last uptrend which is marked with black broken line and in addition it is used as a significant support. Breaking of this level will probably lead the price towards the 1.2600 Fibonacci level. On the other hand, stoppage of the price on this level will probably create a deeper technical correction.
Current review for today
EUR/USD Forecast- The price is breaking the 1.2750 support level and it is possible to assume that its next target will be the 1.2600 Fibonacci level. It is possible that we will see a stoppage on its way downwards (on one of the minor levels on the way), and a correction in size of between a third and two thirds of the downtrend started from the 1.3000 price level.
You can see the chart below:
Date: 12.11.2012 Time: 17:35 Rate: 1.2714
4 Hour chart
Last Review
EUR/USD Forecast- As it was written on our last review, the price has stopped and corrected 38.2% of the downtrend marked with blue broken line, stopped and immediately descended back to the 1.2758 price level which is a 61.8% correction of the uptrend marked with black broken line. In addition, it is possible to see that a AB=CD pattern was created and stoppage of the price at this area will probably lead the price to a more significant uptrend. On the other hand, breaking of the 1.2758 price level in a proven way will probably lead the price towards the 1.2600 price level.
Current review for today
EUR/USD Forecast- The 1.2670 price level is used as a secondary support level, this is why the price can stop in this area and perform a correction of the last downtrend. On the other hand, breaking the last low on the 1.2690 price level in a proven way will probably lead the price downwards to the 1.2690 price level.
You can see the chart below:
