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EURUSD 2 Nov - 1 & 4 Hr charts

EURUSD Forex trade
EURUSD 1 Hour Chart
Saturday, 2 November 2013 at 2:25:00AM AEST
EURUSD is still falling but testing some intra-day Fibonacci support levels around 1.3484 (38.2% of wave iii, and wave v=wave i) from where we could see...


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EURUSD 1 Hour Chart
Saturday, 2 November 2013 at 2:25:00AM AEST

EURUSD is still falling but testing some intra-day Fibonacci support levels around 1.3484 (38.2% of wave iii, and wave v=wave i) from where we could see a small bounce up in wave iv). This wave iv) would be on our radar for shorts early next week.


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EURUSD 4 Hour Chart
Friday, 1 November 2013 at 6:40:00PM AEST - bearish reversal

EURUSD fell sharply lower with accelerating price action towards 1.3550 with characteristics of an impulsive decline. Notice that pair also moved through the channel support line connected from September low which could be an important evidence for a change in trend. From a minimum expectation point of view a decline from 1.3835 should unfold in three legs, so be aware of more weakness and maybe even a short opportunity after wave 2/B pull-back. For now price is still moving lower in wave 1/A that could stop at 1.3450-1.3500 zone; at former wave four.


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