ForexPros Daily Analysis December 06, 2010
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:
Daily: Euro is reacting to 50% short at 1.3378 (line in sand 1.34749, with target at 1.27715). See if it holds. The only other major resistance level is the full half way back at 1.36192.
Last week, euro bounced off half way back at 1.30742, with target at 1.4838.
15min: Broke series of measured moves long, after reacting to 50% short at 1.337. Extension long at 1.3295.
Daily Pivot: 1.33465
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Pound:
Daily: Pound is reacting to half way back at 1.57891 (line in sand at 1.58608), after reacting off support at 1.55206.
On 15min:
Has broken its measured moves long after reacting to short at 1.57891. Daily pivot at 1.57139. Extension long at 1.57276. Full half way back at 1.56487.
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Yen (USD/JPY):
Daily: Yen front run its 50% half way back at 82.345 (line in the sand 81.855) with a target at 85.592. Inside larger short at 84.592 with target at 78.227.
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Forex Trading analysis written by Diana Rochford for Forexpros.
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New on Forexpros the Forex Brokers Directory!
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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.
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:
Daily: Euro is reacting to 50% short at 1.3378 (line in sand 1.34749, with target at 1.27715). See if it holds. The only other major resistance level is the full half way back at 1.36192.
Last week, euro bounced off half way back at 1.30742, with target at 1.4838.
15min: Broke series of measured moves long, after reacting to 50% short at 1.337. Extension long at 1.3295.
Daily Pivot: 1.33465
---
Pound:
Daily: Pound is reacting to half way back at 1.57891 (line in sand at 1.58608), after reacting off support at 1.55206.
On 15min:
Has broken its measured moves long after reacting to short at 1.57891. Daily pivot at 1.57139. Extension long at 1.57276. Full half way back at 1.56487.
---
Yen (USD/JPY):
Daily: Yen front run its 50% half way back at 82.345 (line in the sand 81.855) with a target at 85.592. Inside larger short at 84.592 with target at 78.227.
---
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.