FOREX Forecast. Euro to US Dollar 30 October

Today Forex pair EUR/USD is moving in downtrend. In the next step probably turn around to uptrend. Because EUR-USD chart has divergence and correction. On the next week I think Forex pair will be up trend.

I do not know how much Hurricane Sandy impact on the U.S. economy

I can say for sure - this hurricane will affect in the FOREX and affect in my trading. If we look at important events in the calendar of events, we see the news in the USA the number of unemployed as well as some of the economic indices of the country. Open positions traders several brokers show the relationship to the sale of 2/3 and the relation of traders to purchase a 1/3 of the currency pair EURO-USD. See the Calendar Of Events on our blog.

On this chart, we see a divergence between the currency pair and the MACD. Usually divergence shows us the future changes of direction the currency pair. This chart may contain false divergence. As for the correct prediction is not enough evidence of divergence. We have to take into account other's indicators such as moving averages, levels and levels Fibonnachi Murray. We also need to determine the wave Eliot.

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Usually work in a horizontal channel is trade within the boundaries of the channel. Currency, the euro dollar is able to trade in a horizontal channel for a short time, after which the pair will once again be the rapid growth or decline. Once again, I want to remind you you open after the event calendar view of the FOREX market and open orders of other traders. All this information is available on this blog on the right section.