FOREX FORECAST FOR 1ST OF NOVEMBER, 2012.
Money and Finance

FOREX FORECAST FOR 1ST OF NOVEMBER, 2012.


Today on the 1 hour chart, the price of EUR/USD is within the channel 1.2947 and 1.3020. But we are going to pay attention to the support level marked with thick black line. Currently the market is moving upwards and we are expecting a rebound on the support line at price level 1.2947.

RECOMENDATION : Buy if the price rebounds on the support level line 1.2947 and is heading upwards with a stop loss place a little below the 1.2947 support level and take profit set at 1.3020 and 1.3076.

Sell if the price breaks through the support level 1.2947 and is going downwards with your stop loss place a little above the 1.2947 support line and take profit at level 1.2887 and downwards respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital. 




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