Market Leader informed
According to Reuters, on Monday Greek police intercepted a parcel bomb addressed to the French president. Earlier that day another package had exploded at a courier company in Athens, injuring an employee. 2 suspects were detained later, however the police didn’t find out if there were any ties with al-Qaeda.
In the meantime, EURUSD keeps moving within the 1,37-1,4079 range. There is a retracement currently being formed against yesterday’s completed bullish wave. By now the price has terminated bearish wave A H1. On forming downward wave a(c )/C the price will start developing a FZR* of the same wave level.The Department of studying Masterforex-V trading system supposes that today EURUSD will keep staying within the same range (1,37-1,4079). The enquiry is that the market participants are waiting for tomorrow’s significant news releases, which may decide the future of USD. It is very likely that until the news release on the Fed Reserve interest rate decision the Forex traders will be cautious. News for today, Nov 2nd 2010 (GMT):
09:00 EU - PMI Manufacturing
09:15 CH - Retail Sales
09:30 GBR -PMI Construction
Support/Resistance levels:
1,40119 = the lower boundary of the mid-term trend
1,39526 = 24% h8 + Oanda’s sell limits
1,39078 = the current price
1,3863 = MF pivot + 50% h8 + Oanda’s buy limits
1,38 = MF pivot + 76% h8 + 138% h1 + Oanda’s buy limits
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FZR = Fractal-Zigzag Reversal
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