The EUR/USD failed to extend further its move up turning instead lower and taking out our stop. The closing was negative forming a negative day reversal but only a daily closing tonight below 1,3286 will confirm lower levels.
The indicators of the daily chart are of course still well negative while those of the s/t ones are mixed supporting further consolidation. An hourly closing below 1,3270 will however resume the move down suggesting a retest of the 1,3210 support with a possible undershooting toward October’s low at 1,3146! Only a return above 1,3360 will support a new attempt on the upside supporting a 1,3440 overshooting!!
We remain on the sideline for now; it’s also end of the month!!
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http://www.easyforexnews.net/wp-content/uploads/2011/11/EUR-USD-11.30.11.pdf
FUTURE TREND RESEARCH