Forex News – 21st November 2011

EUR

H&S finally formed on EURUSD daily chart, signaling the market’s bears to reload their short
trades on the pair. Although a full correction would be $1.3170, which is the 100% objective
of the H&S do pay close attention to EURUSD daily chart as Morning Dodji Star has formed.

It is a reversal pattern, warning the sellers for partial uplift in the pair.

A US deficit reduction spokesman is due to announce later on today that they failed to reach an
agreement on how to reduce deficits over the next 10 years by at least $1.2 trillion.

Although some suggest USD weakness may be seen on such a statement do pay close attention to the
graph for further hints.

Gold

Gold has found support around $1,712 after the sharp selloff in recent days.

For a recovery, Gold must overtake $1,736.50 in order to keep rising.

A break under $1,712 will nullify any recovery in the short term, weakness may
extend towards $1,690 and further declines cannot be ruled out.

The publication cannot be distributed, copied and/or make any other usage without Bloombex Ltd.
Consent and written approval.
Although the data has been collected from reliable sources Bloombex does not vouch its accuracy
or precision. The quotes mentioned are for indication only, the implied conditions will only be the concluded
conditions when executing the trade.
The review is presented for instructive purposes in condition it will not be the key factor for trading.
The contents of this publication should not be construed as an express or implied promise, guarantee
Or implication by Bloombex.

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