17.11.201108:47 Forex Analysis & Reviews: EUR/USD TodayвЂ™s Targets and Technical analysis

Long-term review

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Today's Support and Resistance levels:

R3: 141.29

R2: 140.98

R1: 140.87

Current spot: 140.55

S1: 140.42

S2: 140.08

S3: 139.43

Technical summary:

Important resistance at 141.55 protected the upside to perfection, and we are now looking for the final decline in blue wave v towards 139.43 before the next meaningful correction should be expected. Once blue wave v is over, it will only mark wave one of the larger degree and following the correction from 139.43 towards 141.55 and maybe slightly higher, a new powerful decline in wave three should be expected.

Trading recommendation:

Stay short from 141.20 and move your stop lower to 141.35 and place stop profit at 139.55.

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