FOREX FORECAST FOR 19TH OF NOVEMBER, 2012.
Money and Finance

FOREX FORECAST FOR 19TH OF NOVEMBER, 2012.


Today on the 1 hour chart, the price of EUR/USD is within the channel 1.2754 and 1.2691. But we are going to pay attention to the resistance level marked with thick black line. Currently the market is moving upwards towards the resistance line 1.2754 and we are expecting a rebounce on the resistance line 1.2754.

RECOMENDATION : Buy if the price break the resistance level line 1.2754 and is heading upwards with stop loss place a little below the 1.2754 resistance level and take profit set at 1.2801 and 1.2827 respectively.

Sell if the price rebounds on the resistance level 1.2754 and is going downwards with your stop loss place a little above the 1.2754 resistance line and take profit at level 1.2691 and 1.2662 respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital. 




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