EURUSD: is the “Euro marathon” over?

Market Leader informed

Yesterday the Greeks were celebrating the 2500th anniversary of the Battle of Marathon.
The Battle of Marathon took place in 490 BC during the first Persian invasion of Greece. It was fought between the citizens of Athens, aided by Plataea, and a Persian force commanded by Datis and Artaphernes (taken from Wikipedia). The Greeks managed to gain a victory over the Persians. A messenger was sent to Athens. He ran 42km 195m, announced the news and fell dead. In his memory an marathon race is held every year, the participants of which follow the route of the famous messenger warrior.

In the meantime, by the beginning of this trading week EURUSD has formed an upward H3 FZR*.

The Department of studying Masterforex-V trading system supposes that on getting close to 1.4080 there will be a retracement against the downward H4 wave. If the level is overcome the price will form an H8 FZR.
For the downward scenario the key levels are: an H4 FZR (1.3734) – the start of subwave c (C ) of level H8 with further getting over the current mid-term low at 1.3697 will prompt the continuation of the retracement against the wave C of level D2.

News for Nov 1st (GMT):

08:55 GER - Purchasing Manager Index Manufacturing
09:00 EU - Purchasing Manager Index Manufacturing
12:30 GB - Purchasing Manager Index Manufacturing
12:30 USA - Personal Income, Personal Spending, Personal Consumption Expenditure Deflator
14:00 USA - ISM Manufacturing, Construction Spending

Levels of Support and Resistance:

1.4080 Н8 FZR, 161.8%, Oanda’s buy stops
1.4093 88.2%, 138.2%, Oanda’s buy stops
1.4079-1.4014 Oanda’s sell limits
1.3999 76.4%, 123.6%, Oanda’s sell limits and buy stops
1.3992 the current price
1.3907 Oanda’s buy limits
1.3893 MF pivot
1.3864 Oanda’s buy limits
1.3809 MF pivot, Oanda’s buy limits
1.3786
1.3760
1.3734 Н4 FZR, Oanda’s buy limits

Text: Alexander Bobrov, an expert of the Department of studying Masterforex-V trading system
--
H3 FZR = Fractal-Zigzag Reversal of H3 level
MF SC = Sloping Channel by Masterforex-V

 

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