Forex Academy Quick Links:
Language:
English

Intraday Technical Analysis – November 14, 2007

Intraday Technical Analysis – November 14, 2007
Wednesday, November 14th, 2007 @ 7:48 am by Bogdan Parascanu

Welcome to Thursday Nov 14th midday analysis -12.45 GMT

Euro moved higher and reached our projected target we mentioned in yesterday’s midday analysis of 1.4686. The pair traded in a small range just before the UK open and, after a retest of yesterday’s high of 1.4635 and an up sloping trendline it surged towards the 1.4700 level but so far it failed to stay above that. On the 1 hour time frame, we can see that a divergence has formed and while we are trading below 1.4700 it can shift today’s bias to the short side.

eur-nov-14-07-noon.gif

GbpUsd retraced a bit in yesterday’s US session but reversed and continued higher until it touched the 50.0 Fib Line of the 2.1140/2.0525 down move. The touch of the 50.0 Fib at 2.0840 also coincided with a fundamental news release from the BOE and that resulted in a sharp fall on GbpUsd, the pair losing almost 200 points in 1 hour and only stopped at 2.0640 which was the middle of Tuesday’s range.

gbp-nov-14-07-noon.gif

No Responses to “Intraday Technical Analysis – November 14, 2007”

No comments posted yet.

Leave a Reply

Submit Your Comment

Our Global Forex Community

Follow us on Twitter! Join us on Facebook! Watch us on YouTube! Stumble Us!

Advertising

Next Free Forex Webinar

Free Market Commentaries

Advertising

Blog Archive

Forex Links

Educational Partners

The Geek Knows
AgriMoney.com
Traders' Magazine

Finance Blogs Blogarama - The Blog Directory