What is foreign exchange trading system? and how it affects to EUR USD?
On the EUR / USD and USD / CHF follow the local structure of 7 November. For the GBP / USD continue to monitor local structure descending from 7 November. The pair dollar / yen upward movement until we regard as correct. On the EUR / Yen follow the descending structure of 1 November. For the GBP / Yen follow the descending structure of 2 November, upward movement is considered as a correction.
Forecast for November 12:
On the EUR / USD important levels are 1.2876, 1.2827, 1.2806, 1.2786, 1.2701, 1.2649, 1.2626 and 1.2588. It further development of the descending structure of 7 November expect after breaking 1.2701, in this case the target is 1.2649, in the corridor 1.2649 - 1.2626 price consolidation. Potential value for the low level of 1.2588 believe at which rolled forward up. Short-term upward movement is possible in the hallway 1.2786 - 1.2806, break of the latter will lead to a deeper motion, the target here is 1.2827, the breach of which, in turn, will have to develop bottom-up, in this case, the potential target 1.2876.
Buy: 1.2786 Take profit: 1.2805
Buy: 1.2807 Take profit: 1.2826
Sell: 1.2700 Take profit: 1.2650
Sell: 1.2625 Take profit: 1.2590