EUR/USD Techncial Analysis of November23 , 2012 by MBCFX.com

[Nancy Maali]

MBCFX daily Market Analysis. TODAY is Friday, November 23, 2012.

 

The Euro USD prices witnessed unexpected variations due to the lack of liquidity, as the American and European markets are closed to celebrate the Thanks Giving Day.

And this is what has pushed the Euro high to reach the 1.2898 level, and we expect it would continue its rise towards the Fibonacci 23.6% on the daily chart at the area between the 1.2906 level and the 1.2916 level,

 

And this area will represent great opportunities to short the pair.

 

Then the market will change its direction to decrease to the 1.2840 level, and then towards the Fibonacci 38.2% at the 1.2790 level.

 

As for the key support level, it lays at the 1.27 level.

 

That is all for the news of this morning,

 

for more info or further technical analysis, please visit our website on:

 

www.mbcfx.com Or contact us at: [email protected]

http://www.mbcfx.com/news/news_en23_11.html

[ForexMike]

Please keep the same currency postings in one thread instead of making a new daily thread. Look how others post in this area if you have any questions.

 

Also show charts if you would, thanks!

Edited November 23, 2012 by ForexMike