Today, on Dec 13 2010, currency market experts noticed thatthe common European currency significantly declined versus the US Dollar.
EURUSD is being traded around 1.3191 after losing 0,279% of its value.
Masterforex-V Academy analysts note that the currency pair has probably defined its support. It is located at 1.3166, Thursday’s low. The current resistance is at 1.3323, Thursday’s high.
Besides, EUR has declined a little against JPY and GBP. EURGBP reached 0,8360 after losing 0,11% of its value. EURJPY reached 110,97 (0,07% lost).
Movement scenarios: markup. H4-H1. EURUSD. Dec 13th 2010.
1.Upward scenario
1.3176, support, is critical for this variant of movement. A breakout of it cancels the scenario.
Resistance levels:
Volatility indicator “Saks Channel”: 1.3268 - 1.3411.
Local high: 1.3442. Buy target grid of the basic indicator: 1.3250-1.3295-1.3268.
2.Flat scenario (Flat-zone):
Support level: 1.3163.
For the flattish movement scenario these levels are critical. If there is flat widening, the levels may see false breakouts. However the deviation shouldn’t exceed 161.8% - 1.3116. Therefore, in this case the price cannot come out of the buy-zone or sell-zone. The 161.8% support level inside the buy-zone and the 161.8% resistance level inside the sell-zone are critical for this scenario and cancel it once violated.
3.Downward scenario (Pic1)…
1.3242, resistance, is critical for this variant of movement. A breakout of it cancels the scenario.
Resistance levels:
Volatility indicator “Saks Channel”: 1.3127-1.2985.
Local low: 1.3176. Sell target grid of the basic indicator: 1.3183-1.3122-1.3024.
Provided by the Department of mid-term trading and GTMT, Masterforex-V Academy.
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