My Dear Friends,
Great to see your interest in Forex trading and I would like to continue with the trading lessons.
- Since last 2 weeks market was ranging with in only 60 paisa.
- Now after the pre-poll elections market has shown movement and crossed support line.
- From yesterday’s market closure, refer the below image USDINR has crossed the support level at 62.10
- Now next expected target is @ 61.00
- Next Move : Possibly market will retest the emotion point @ 62 and again go towards 61.00
Now following are the factors need to observe clearly for next market move
- Today’s US news – NFP (Non Farm Payroll) This presents the number of people on the payrolls of all non-agricultural businesses.
- On 8th December actual results will be declared from all four states.
- Keep a watch on these news – these news may shift the market either for continuation or reversal.
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