Euro-Dollar Analysis, November 5th 2012 (English Language)

Good morning,

hereunder is you video-analysis for the Euro FX currency futures:

the Euro is following scenario N.1 identified in the post related to the plan for trading the Euro I shared yesterday with those who have already subscribed my free newsletter. With price violating the low printed at the beginning of October (1.2813) the Euro is now directed towards the 1.2740 area, which I believe it could touch on today.

Those who read my newsletter know I was closely watching the 1.2850 level, well the high of this morning was 1.2847! The second test of the support area located in 1.2620 is indeed failed as I had anticipated. As soon as price will get onto the 1.2740 area we will need to closely observe price dynamics to understand whether there is going to be a bounce into the 1.2800 area or price will just keep sliding lower into the 1.2620 area of strong support, as we are now expecting since several weeks. Should price get to the 1.2620 area that should be where the next leg higher in the Euro will start from.

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