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  1. Greek Crisis: 4 big issues send EUR/USD to new lows

    by , 11-13-2012 at 03:31 AM
    [COLOR=#444444][FONT=Arial]Another Eurogroup meeting ended with disagreements. Greece will not receive aid, not yet. The only good news is that some kind of solution (still unknown) could be found to avert an immediate default.[/FONT][/COLOR]
    [COLOR=#444444][FONT=Arial]However, this meeting exposed a wide range of disagreements and open questions, sending EUR/USD under 1.27. Update.[/FONT][/COLOR]
    [COLOR=#444444][FONT=Arial]Let’s start from the most burning issue: 5 billion euros of treasury bills that Greece needs to pay back on November 16th and continue to additional issues.[/FONT][/COLOR]

    [LIST=1][*][B]Magic trick for averting default[/B]: Greece wanted to receive the 31.5 billion tranche of aid, however, this ...
  2. USDJPY remains in the short term downtrend from 80.67

    by , 11-12-2012 at 09:58 PM (Free Forex Market Analysis)
    USDJPY remains in the short term downtrend from 80.67, the rise from 79.07 would possibly be consolidation of the downtrend. Another fall could be expected after consolidation, and the target would be at 78.80 area. However, the fall from 80.67 is likely consolidation of the longer term uptrend from 77.14 (Sep 13 low), one more rise to 82.00 area is still possible after consolidation. Resistance is now at 79.65, a break above this level will indicate that a cycle bottom has been formed at 79.07 on 4-hour chart, and the short term downtrend from 80.67 has completed, then the following upward movement could bring price to 81.00 zone.


    by , 11-12-2012 at 08:45 PM (The Daily Forecaster)
    [B]BIAS[/B]: While 1.0386-1.0417 supports we should begin to see firmer gains

    [B]Resistance[/B]:... 1.0440........ 1.0461... 1.0480... 1.0500-19
    [B]Support[/B]:........ 1.0407-17... 1.0386... 1.0359... 1.0329

    [B]MAIN ANALYSIS[/B]: Price hit the 1.0357-67 area that I described as important and has bounced higher. This looks constructive and overall it encourages my basic bullish view. We do still need to be aware of a correction with the 1.0386-1.0417 area appearing to be important. I cannot rule out a deeper correction to this area at this point. However, while this broad area supports there is a good bullish structure that would imply a break above yesterday's 1.0440 high to extend to the 1.0480 high ...
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  4. EUR/USD Technical Chart Update 2012-11-12

    by , 11-12-2012 at 01:26 PM
    EUR/USD Technical Chart Analysis/Patterns Euro US Dollar Day Trading Signals/Setups Forex FX Market

    EUR/USD had a quite session today and so far the Euro traded in the hourly consolidation range around the low of November 8th.

    The European session started with a shakeout/ stop fishing at 6 a.m. GMT. This false breakout led to a reversal of the EUR/USD. Market moved down to the 1.27 level and in the following market price action was capped in the range of this impulsive move during today's trading session.

    At 1.10 p.m., the EUR/USD reversed at the 1.2735 level because of the Fibonacci cluster due to the two 100 % fib extensions from the previous swings up, the daily pivot point and the recent ...
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