#EUR/USD Daily
Market #Analysis of October 12th 2012 by
MBCFX.com
Welcome to MBCFX daily
Market Analysis. TODAY is Friday, October 12th, 2012.
Today we are going to analyze the Euro USD on the 4 hours chart.
We notice that the prices have breached the ascending channel with the same difference from A B to B C, which represents the top line of the Ishimoku cloud, and it did not succeed in breaching it during 4 attempts.
So
we advice you to monitor the mentioned level, and if it breaches up the
1.2937 level, it would reflect an upward movement towards the 1.30
level then to the 1.3050 level.
However,
as long as the prices remain trading below the 1.2950 level, it would
continue its range trading, so we advice our dear traders to ovoid
entering the market in this case.
Today’s recommendations:
We advice our dear traders to monitor the 4 hours candle, and if it
closes above the 1.2937 level, this is a buy signal , and to take profit
at the 1.2965 level or at the 1.30 level , depending on the views of
traders , but we advice you to enter a stop loss at the 1.2906 level.
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fundamental news of the market.
That is all for the news of this morning,
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