Today, on Nov 9th 2010, Portugal is going to hold an auction to place its treasuries to the sum of 1.25B euro.
In connection with…
… yesterday (Nov 8th) EURUSD at Forex continued its downtrend, came out of the MF Sloping Channel and got over the MF pivot, indicating an increase in the wave level of the downward price movement. At the moment the currency pair is being traded around 23% of the entire wave C on D2.
According to the Department of studying Masterforex-V trading system , currently the price is forming a bearish wave of the senior wave level (probably H8). A wave acting as “the moment of truth” is needed to prompt the further direction of the EURUSD price movement.
At this point it is necessary to watch the end of the downward wave C of level H2/H4, keeping in mind a chance of further downtrend through wave c (C ) on H4, which can be traced through the AO and the MF Sloping Channel.
Support/Resistance levels:
1.3940 23% + Oanda’s sell limits
1.3900 Oanda’s sell limits
1.3880 MF SC
1.3862-the current price
1.3807 Oanda’s buy limits
1.3794 123%
1.3736 138%
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