Forex and Stock Market information, MMO, SEO and IT guide

The EURUSD graph displays a 4 hour reversal candle. The European currency rose during the American session today, and traded above 1.4865 resistance level to record another session high at 1.4920. But the pair pulled back down after the U.S. jobless claims, which came out with better than expected. Looking at the chart below, there is a clear reversal formation on 4 hour chart, known as a pushing down candle or a reversal candle, also we note that the pair closed the candle also below 1.4865 resistance level, which means that the pair has been rejected above that level. According to this analysis, the EURUSD is likely to drop back again, targeting 1.4820 in the short term.

” href=”http://www.goforex.com/sites/all/files/market-review/2009/novomber/nour3.JPG”>