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EUR/USD Update 1 Nov 12

Good day forex traders.

It is the new month and I hope everyone is feeling excited ! Lets make this a fantastico month of trading ya?

The previous EUR/USD forecast saw a temporary spike in the currency pair. However the bullish momentum did not push through further.

20121101-114207.jpg

Looking at the EUR/USD 4 hourly chart above we note that the currency pair is indeed back at the 1.2950 region

Tell me, does it look like a developing heads and shoulders technical chart pattern? Only time can tell.

Watch out for Europe opening later. With more volume, there may be developments.

Trade safely.

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