November 16, 2012

Daily Market Rhythm, November 15 2012

Daily Market Rhythm, November 15 2012

eurusd daily market rhythm

EUR gained some strength against the greenback with strong positive correlation with EURJPY move this week. The SMA 89 spotted some significant support at around $1.2660 and the MACD show a nice round bottom pull back signal. 
The EURUSD may tested the water around EMA 21 (1.2830) before decide where to go from there. It may break higher, thus continuing its range-bound move of 1.26 - 1.31. Or, if the EMA 21 hold tight the EURUSD may go lower and lower.

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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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