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Hello everybody. Today I build on yesterday’s analysis for cable. I spend some time discussing methods of dynamically defining trend and how to use that information between multiple timeframes. Today’s trade plan is quite simple I make use of pivot theory, EMA’s and basic support and resistance. Good luck and happy trading. David Pegler.

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[SIZE="5"]EUR/USD - Euro Dollar[/SIZE]
1,3108. EUR USD is in a consolidation after the last bullish movement. EUR USD is in a range between 1,3080 and 1,3300. The volatility is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,3080 (28 pips). If the support is broken then the target will be 1,2930 (178 pips).
[INDENT][B]Resistances[/B]
1,3200 - 1,3300
[B]Supports[/B]
1,3080 - 1,2930[/INDENT]more information on [URL="http://www.mataf.net/en/forex-eurusd.htm"]EUR/USD - Euro Dollar [B]Click Here[/B][/URL]
[CENTER][IMG]http://www.mataf.net/section/devises/page/images/eurusd.png[/IMG][/CENTER][SIZE="5"]GBP/USD ...

Being supported by the lower border of the price channel on 4-hour chart, USDCHF rebound from 1.1313. further rise to test 1.1714 is possible. As long as this level holds, we’d expect sideways consolidation to continue, and one more fall below 1.1313 would more likely be seen before breaking above 1.1714 level.



Daily Forex Forecast

[B]Bias: [/B]The 1.2215 area needs to cap to retain a directly bearish stance

The 1.2331 high held and the break below 1.2224 and 1.2184 took price down into the 1.2066-94 support area which has caused a pullback. It maybe that we'll see a consolidation before the final move lower and any pullback should ideally remain below 1.2210 and no higher than 1.2230-40. To see the anticipated final move lower a break below 1.2089 will assist and cause follow-through below 1.2024 to reach to the ideal 1.1900-31 targeted support.

For full analysis please open today's full report in PDF format.

Attached Files

• The Brief Daily Forecaster.pdf (112.1 KB, 156 次查看)