Analysis of the day Forex Trading

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Entering day to -2 this week seems to have corrected the world market because investors are still resting after along rallied last week. Moment used to taking either exchange or traded on a stock exchange. Currently, the market also appears wary of the impact of the development from aggressive stimulus. Provided by the Fed last week. So when the market began to focus on the euro zone, where the Spanish state will ask for a bailout to ease its fiscal turmoil.

While in the media curency, the euro despite starting corrected but the currency is still able to survive Wealth highest in four months to usd. Correction thin is more burdened because federal free reserve last week. The euro is currently at the lower range of 1.3100 is lower than yesterday's closing level of 1.3116.

If we look from the technical side to the movement of the euro is seen still bullish, it is seen from stochastic indicator, MACD and moving averagenya some indicators that are conditioned daily tenured uptrend. So that these conditions allow the euro area to keep the rally to 1.3140 and then to 1.3170 level down to penetrate the resistance level 1.3200 last.

But if look at the daily stochastic indicator has allowed the euro to overbold corrected at any time, and if it happens, we can use projection techniques fibonaci retracment lasted 1 hour which we take from the lowest point on the 10th of september to highest at 1.2755 area last Monday at 1.3172 level then we get support prisoners as 1.3070 which is the 23.6% retrace 1.3010 and the 38.2% retrace that until the last support level 1.2960 which is the 50% retrace of fibonaci.

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