dimanche 15 novembre 2009
EURUSD Daily 13-11-09
Posted on 07:09 by Kyuubi
This week tested the level of 1.5045 as expected in previous analysis. This test has been in relatively low volume compared to days before, it translate a lake of interest by smart money above this level and no break-out will succeed in those kind of conditions.
It is the reason why we saw the market falling on Thursday with good volume, professional traders are positionning themselves in the short side of the market and even if Friday was an up day I believe that we should see a kind of retracement near 1.4600-1.4500 at least in the following weeks. Waiting for a break of 1.4844 before could be a good idea as we saw some demand on Friday supporting this level but I believe the absorbtion is not far, and if not expect a trading range for some times between 1.4844 - 1.5045.
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