Nov 17 EURUSD: precise forecast and easy 40 pips

Serious plunge yesterday on worries about European debt crisis. Daily oversold, H4 oversold and pointing upwards, H1 neutral. Expecting some correction or consolidation at least before weakening below yesterday's low. As long as strong resistance @ 3660 holds, we are going south, targeting 3350-3300 during the next couple of days. Immediate resistance is 3520-30 area, a confirmation above this level may push the price higher towards 3560-70. Expect sellers here. (Issued at 2010-11-17 06:35 GMT. )

SHORT @ 3560, SL 3580, TP1 3540, TP2 3520, TP3 3505.

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Nov 16 EURUSD trade

Still looking weak, pair needs a convincing confirmation below 3560 to reach next target 3500. On the upside, immediate resistance @ 3650, followed by 3680-3700. If we manage to stay above this level, more upside correction is expected towards 3750. (Issued at 2010-11-16 06:21 GMT.)

SHORT @ 3550, SL 3570, TP1 3535, TP2 3515. 

Our signal precisely covered the entire body of the hourly candle. Closed position with a comfortable 35 pips. Notice that the forecast yielded 60 pips (3560>3500).

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