Market Leader informed
Yesterday Europe’s leading indexes rose once again.One of the reasons for it is good news released by the Bank of England. The opening of the American trading session was favorable as well.
The overall stock market strength affected EUR at Forex.
According to the calculations made by the Department of studying Masterforex-V trading system , EURUSD has gained strength, having formed a bullish wave of, probably, wave level H2. The upward tendency is likely to continue. An H8 FZR* is possible as an alternative scenario.
Today’s important news (Oct 21st 2010 – GMT):
07:30 GER - PMI Manufacturing and PMI Services
08:00 EU - PMI Manufacturing and PMI Services
12:30 USA - Jobless claims
14:00 EU - Consumer Confidence
14:00 USA - Philadelphia Fed Manufacturing Index
18:00 USA - James Bullard Gives Opening Remarks
Support/Resistance levels:
1,4158 – MF pivot + 162% A h2
1,4089 - 138% A h2 + Oanda’s sell limits
1,3931 – the current price
1,3788 - 24% d2 + Oanda’s buy limits
1,3696 - MF pivot, the lower boundary of the mid-term flat + Oanda’s buy limits
Text: Mikhail Latypov, an expert of the Department of studying Masterforex-V trading system
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H8 FZR = Fractal-Zigzag Reversal of H8 level
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