Saturday, November 22, 2008

EURUSD Weekly Commentary 22nd Novmber 2008

Next Week for EURUSD 24th,25th,26th,27th and 28th November 2008. The Weekly Chart is showing a down trend.This week ended with a harami candle stick pattern on weekly chart with a H P 1.2812 and LP 1.2424. The Daily chart is showing an Engulfing Candlestick pattern. 20 SMA on the daily chart is showing Resistance level of 1.2682. Four hour chart price trend is flat and in the UB 1.2673 and LB 1.2430. Strategy for the next week is to sell rallies OR stand aside till there is daily price closure above daily 20 SMA resistance 1.2682.Good Trading.

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