ISM Manufacturing PMI – 1 Nov 2011 Euro/Dollar THV 4 Analyze

Posted by Superadmin | Posted in Long Forex Trades | Posted on 01-11-2011

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4 Hours Chart:
Huge bearish trend. RSI is deep in oversold zone. It is at 4. Trixes are in red color and are going down rapidly. Fast trix is already very deep in oversold zone and slow trix is going in that direction.


Hourly Chart:
Strong bearish trend. RSI is going down and is not raising at all. At this moment it is in oversold zone at 15. We have 2 green bullish divergences and first one was obvious fail. Trixes are in green color, crossed and going up.

15 Minute Chart:
Strong bearish trend. RSI is going down and it is already at 16. That is oversold zone. On this chart we see 2 red bearish divergences and trixes are red and going down.

5 Minute Chart:
On this chart we have bullish trend. RSI is going up and is already at 63. But we have 2 green bullish divergences and both trixes are in green color. And they are crossed for bullish movement.

Fibonacci Pivot Line is at 1,39509 and we have open below that line at 1,38579. It looks like we will be bearish today as well. But check other indicators as well.

Support Lines:
1,38866
1,38206
1,37817
1,37412
1,36752
1,36109

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Resistance Line:
1,40168
1,40811
1,41217
1,41623
1,42265
1,42925

Plan:
Big charts are in oversold zone and this small chart 5 Minutes say bullish trend. So that is indicating that we could go up, but i doubt that this will be trend change. More like a bounce.

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Forex News:
It is all saints day and Europe is on Holiday. But most important news for today is ISM Manufacturing PMI which starts at 16:00 and will have impact on US dollar.

All DayEUR

French Bank Holiday

    
All DayEUR

Italian Bank Holiday

    
04:00:00 PMUSD

ISM Manufacturing PMI

  52.151.6
16:00USD

Construction Spending m/m

  0.4%1.4%
16:00USD

ISM Manufacturing Prices

  55.156.0
All DayUSD

Total Vehicle Sales

  13.1M13.1M

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