| Author's today's articles: Gerardo Porras Palomino - Official analytic of InstaForex Companies Group Born August 30, 1980, in Huancayo, Peru. Since 1999 studied Maintenance Mechanics, specializing in fluids engineering (SENATI). In 2005 entered the foreign exchange market and started dealing with investments and studying Technical Analysis. Since 2007 devoted all his time to Forex world. Passed the advanced course of Forex trading (UdeForex) at University of Forex and thus aquired the following qualification: Operator and Analyst in the foreign exchange market. Carried out many other studies; among them there are the Waves of Elliot, the famous theory of Fibonacci etc. Presently seeks to operate his own money on the market, to carry out Technical and fundamental analysis and also to instruct beginners helping them to gain consistency in trading.Interest: reading, music, playing chess, operating on Forex. EUR/USD Strong Support 1.2873 For October 24, 2012 (Daily Strategy) 2012-10-24 The EUR/USD pair is very close to the weekly support 1.2893. Below it there is the uptrend line crossing at 1.2873. We believe that before the euro holds up it must break support at these levels. As we mentioned yesterday in our article, the euro has a strong downward pressure below 1.30005. Only a meaningful optimistic data could lead the pair to reach the highs last week. At a fundamental level, the minutes of FOMC meeting will be released today. Much volatility is expected; therefore we recommend exercise great caution before making a decision. Therefore, we recommend buying weekly support. It is recommended to buy only if you want to take a position now. You can buy at current price level with low leverage, with targets back to 1.3120. The technical indicator is approaching a bullish rebound.  If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks. Fundamental Analysis For October 24, 2012 2012-10-24 The next meaningful event for monetary policy is not the announcements by Fed, but the president election in U.S. two weeks later. European shares recover after sharp falls which took place on Wednesday. The Dow Jones Industrial Average added 24.64 points to 13,127.17. But let's go in chronological order what has already happened and may happen later. In Germany IFO Business Climate index is already known. It showed a decline to 100 points, lower than expected. Amid the data the euro reached its minimum of 1.2919 against the dollar, then a slight recovery started. Also in Germany both the PMI manufacturing and services appeared well below expectations, showing that the strength of the European economic locomotive also begins to stumble; it is not good for the rest of the eurozone. New Home Sales in the United States data are released. Purchases of new homes rose in September to the highest level in more than two years. The Fed's announcement, scheduled for 2:15 PM Eastern. Ben S. Bernanke, a current chairman, may announce QE3 which includes injecting the economic circuit of about 40 billion dollars a month could stretch to the end of his term. It runs through early 2014. However, Tuesday's low reflects a climate of uncertainty. Employment data is far from ideal but much better than analysts expected. Some believe that it was manipulation in favor of the Obama administration, in terms of his reelection next month. So this afternoon could give investors confidence, if Bernanke and his people are able to convince themselves that their stimulus plans are actually working. The chart of the dollar against major currencies shows a moderate probability that the dollar suffered a setback today of medium intensity, so the euro could exceed 1.30 with relative ease, while the pound regains its upward pace 1.6080. Subscription's options management Theme's: Fundamental analysis, Fractal analysis, Wave analysis, Technical analysis, Review, Forecast, Stock Markets Author's : Alexander Dneprovskiy, Aleksey Goncharov, Maxim Magdalinin, Stanislav Polyanskiy, Alexey Portnov, Natalia Grigorieva, Aleksey Almazov, Asri Mahmood, Denis Strelkov, Arief Makmur, Gleb Kabanov, Vadim Idrisov, Gerardo Porras Palomino, Albert Fitoussi, Sergey Dushechkin, Mohamed Samy, Vyacheslav Belousov, Oleg Khmelevskiy, Mourad El Keddani, Sergey Litvinenko, Muzammil Hussain Bhatti, Grigory Sokolov, Mohamed Nour Elden Beshir, Yuriy Zaycev, Andrey Syrbu, Harsh Japee, Dmitriy Demidenko, Azeez Mustapha, Nikita Kabanovs, Ahsan Aslam
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