InstaForex

Wednesday, November 21, 2012

Forexcast | EURUSD 11.21.2012




After the hanged man showed itself yesterday, the confirmation for a reversal has been fortified. The trend which is now on the bearish move will most probably break the first layer of support. Traders may ride the down surge for a while until before the 1.2640 mark which may be the testing ground. According to my wave interpretation, the second wave is just forming and may break the 1.2910 value before it is done.

R1: 1.2910
R2: 1.3175

S1: 1.2750
21: 1.2640

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