Forex Analysis

Forex Market Analysis on 01/02/2013

What to expect from the market 01/02/2013?There are several interesting points:


Bears was not strong enough to pass the level of 0.90949 and consolidates below it.As a result, at the level of formed pin-bar.Probably the beginning of a correction to 0.91707 and only then continued downward movement.Shopping is not recommended to be considered asbasic movement downward.Sales closed or converted into B \ Y (breakeven).Alternative scenario: The further towards the lower boundary of the descending channel.


at the support level formed Doji pattern.The price can not determine the direction.The likely course of events: Moving up and breakdown of the level of 1.04708.Alternative scenario: A break level of 1.04008, and a continuation of the downward movement.From buying and selling to refrain, until the situation clearer.


Today the price has fulfilled the nearest target for sales.Then maybe the end of correction and the continuation of the upward movement.Or continuation of

the downward movement to the next target 0.99124.Sales recommended to close or transfer to B \ Y (breakeven).For shopping is better to wait for confirmation, the end of the correction, the formation of one of Price Action Patterns.


price was fixed above the level of 1.58405.The next target for purchases 1.59503.It is worth paying attention to the price action in the area of ​​1.58921, can meet resistance there.Sales is not recommended to treat.