EUR / USD. Forecast for November 21, 2012

Written by Tim T.

At the meeting of the Euro Group, as expected, the decision on Greece was not formed and the issue moved to November 26.

Data for the laying of new homes in the U.S. in October showed an increase 0.89 million vs. 0.84 million
Fed Chairman Ben Bernanke in investor sentiment brought confusion, saying he did not have the means to neutralize the effects of "fiscal cliff."
Today at 16:00 MSK published index requests for mortgage lending in the U.S. last week. At 17:30 out weekly data on initial applications for unemployment benefits: the forecast 423 thousand against 439 thousand index of business activity in the manufacturing sector in November (18:00 MSK) is expected to rise to 51.2 versus 51.0 in October. Consumer confidence in the final estimate for November expected 84.9.
Good statistics on the expected local and pessimism may close shopping, because tomorrow in U.S. output holiday.
Technical objectives defined trend lines on the four slots: expect decline to 1.2785, followed by 1.2764 (technically reduction can also be expressed by a local reversal of the zero line on the daily oscillator Marlin scale). In the case of consolidation under the level may fall to 1.2716. Positive scenario assumes growth to 1.2842 and in case of consolidation to rise above 1.2868.

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