ForexPros Daily Analysis December 01, 2010
Today: Free webinar on ForexPros - Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Dec 20, 2010, 10:00 ET
End: Mon, Dec 20, 2010, 11:00 ET
Fibonacci ratios are a very popular tool among technical traders and price has an uncanny way of respecting Fibonacci ratios.
There are different kinds of Fibonacci ratios like, retracements, expansions, projections, fans etc, and each of them have a different characteristic and a different use.
Learn to identify the situations to use the correct Fibonacci ratio.
Click here to join free
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Euro:
On daily, has continued to break lows on over extended moves. Next major support areas are previous highs at 1.2916 and lows at 1.2588.
On the 15min chart, still in a series of measured moves short, with 50% short at 1.3052 having a reaction. Daily pivot at 1.30332 may help hold market down. Line in sand at 1.3072.
Pound:
On daily, pound has continued to hit new daily lows and has reached a major support (previous highs) area at 1.55206.
On 15min chart, still in extension short, with 50% at 1.56042, with target at 1.54257. Line in sand is at 1.56328.
Yen:
On daily, Yen is puling back after hitting daily targets. Extension long at 50% at 83.206, may serve as the next bounce point, with a target at 84.995.
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Forex Trading analysis written by Diana Rochford for Forexpros.
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New on Forexpros the Forex Brokers Directory!
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Today: Free webinar on ForexPros - Using Fibonacci ratios to manage your trades efficiently
Expert: Sunil Mangwani
Start: Mon, Dec 20, 2010, 10:00 ET
End: Mon, Dec 20, 2010, 11:00 ET
Fibonacci ratios are a very popular tool among technical traders and price has an uncanny way of respecting Fibonacci ratios.
There are different kinds of Fibonacci ratios like, retracements, expansions, projections, fans etc, and each of them have a different characteristic and a different use.
Learn to identify the situations to use the correct Fibonacci ratio.
Click here to join free
---
Euro:
On daily, has continued to break lows on over extended moves. Next major support areas are previous highs at 1.2916 and lows at 1.2588.
On the 15min chart, still in a series of measured moves short, with 50% short at 1.3052 having a reaction. Daily pivot at 1.30332 may help hold market down. Line in sand at 1.3072.
Pound:
On daily, pound has continued to hit new daily lows and has reached a major support (previous highs) area at 1.55206.
On 15min chart, still in extension short, with 50% at 1.56042, with target at 1.54257. Line in sand is at 1.56328.
Yen:
On daily, Yen is puling back after hitting daily targets. Extension long at 50% at 83.206, may serve as the next bounce point, with a target at 84.995.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
New on Forexpros the Forex Brokers Directory!
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.