Previously the US authorities decided to issue $600B aimed at accelerating the pace of the state’s economic growth.
The German Ministry of Finance indicates concerns that US won’t solve its inner problems simultaneously causing inconvenience for other countries. The People’s Bank of China shares Germany’s point of view, urging the world to reconsider the entire global monetary system, however the means are not specified.
In the meantime at Forex the EUR currency rate has formed a downward H4 FZR*.
According to the Department of studying Masterforex-V trading system , at this point the price is completing wave c (C ) of level H4. In order to do that EURUSD needs to get over the defensive MF pivot and to come out of the MF Sloping Channel.
Otherwise the downward movement may be resumed through “the Hound of the Baskervilles by Elder/MF”.
New releases planned for today (Nov 10th – GMT):
07:45 FR - Manufacturing Production, Industrial Production
07:45 IT - Industrial Production
10:30 GBR - Bank of England Quarterly Inflation Report
13:30 USA - Import Price Index, Jobless claims, Trade Balance
15:30 USA - Crude Oil Inventories
Support/Resistance level:
1.3945 – MF pivot + 88.2% + sell limits
1.3882 – MF Sloping Channel + 61.8%
1.3854 - MF Sloping Channel + 50% + sell limits
1.3791 - MF pivot + sell limits + 23.6%
1.3759 – the current price
1.3735 - FZR + buy limits
1.3707 - 111.8% + buy limits
1.3644 - 138.2% + 138.2% + 38.2%
1.3588 - 161.8% + 150%
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H4 FZR = Fractal-Zigzag Reversal of H4 level
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