FOREX FORECAST FOR 17TH OF JANUARY, 2013. CLICK ON THE CHART TO ENLARGE
Money and Finance

FOREX FORECAST FOR 17TH OF JANUARY, 2013. CLICK ON THE CHART TO ENLARGE


Today on the 1 hour chart, the EUR/USD is on a long term downward trend. But we are going to pay attention at the level marked with purple colour line 1.3356 (which will be our Pivot Point). Currently the market is moving downwards and we are expecting it to continue on its downwards trend towards the support level line 1.3248.

RECOMENDATION : Buy if the price break the purple colour resistance level line with stop loss place a little below the 1.3356 resistance level and take profit set at 1.3403 and upwards respectively.

Sell if the price continues on its downwards trends or rebounce on the resistance level line 1.3356 and is going downwards with your stop loss place a little above the purple colour resistance level line 1.3356 and take profit at level 1.3248 and downwards respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital.






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