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FOREX: Technical analysis 11/09/12

07.11.2012

Market Review

EUR / USD

News background:

The results of the elections in the United States provided good support to the pair. Obama's victory shows that the policy stimulus will not be changed, which means that the dollar will remain under pressure.

Technical picture:

Pair rebounded from the values of September. The pair continues to remain in the downward short-term trend, but it came out in the upper limit of the Bollinger borders and is above the EMA 5 and 21, but still below the SMA 100 and 200.

LED Stoch. points to the possibility of suspension growth. RSI is above 50%.

Trading recommendations. Buy a pair if it will overcome the probable level of 1.2880 to 1.3000 LAN.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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