Friday, November 4, 2011

Good view on Euro (2011-11-04 EUR analysis)
















Above is the 4-Hour chart of EUR/USD.

Euro probably continues to move up along the orange up-trend channel, given the bullish cross in MACD and a little divergence in Stochastic.

So the next resistant level is at around 1.392. This is the 50% retracement level using the high in 27-Oct and the low at 1-Nov.

Good luck.

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