11-24-2010, 09:20 AM
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 Forexpros.com Daily Analysis - 24/11/2010
ForexPros Daily Analysis November 24, 2010
Free webinar on ForexPros - How to trade during volatile markets
Expert: Nour Eldeen M. Al-Hammouri
Start: Tue, Nov 30, 2010, 10:00 ET
End: Tue, Nov 30, 2010, 11:00 ET
In this webinar we are going to give you some simple strategies and indicators which can help daily traders to profit from volatile markets. And we will talk about VIX chart and how it is an indicator for USDX bullish patterns Click here to join free
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Forex Trend Analysis
The trend for EURUSD this week is DOWN and we will be looking for SHORT trading opportunity.
Forex Technical Analysis
Daily Chart
The price has crossed below the 200 EMA and is moving back up to retest the new resistance level.
Hourly Chart
There are several major resistance level on this time frame at around 1.34607. It consists of 2 Fibonacci and 1 Daily Pivot Level.
Overall Forex Analysis
I will look to go SHORT if the price is unable to break above the 1.34607 resistance levels.
--- Forex Trading analysis written by Kelvin Lee for Forexpros.
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