FOREX FORECAST FOR NEXT WEEK MONDAY 5TH OF NOVEMBER, 2012.
Money and Finance

FOREX FORECAST FOR NEXT WEEK MONDAY 5TH OF NOVEMBER, 2012.


Today on the 5 hour chart, the price of EUR/USD is within the channel 1.2804 and 1.2884. 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 resistance line at price level 1.2884.

RECOMENDATION : Buy if the price break the resistance level line 1.2884 and is heading upwards with a stop loss place a little below the 1.2884 resistance level and take profit set at 1.3016.

Sell if the price rebounds on the resistance level 1.2884 and is going downwards with your stop loss place a little above the 1.2884 resistance line and take profit at level 1.2804 and 1.2755 respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital. 






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