ForexPros Daily Analysis December 09, 2010
Free webinar on ForexPros - Market Fundamentals 1
Expert: Mark Dela Paz
Start: Thu, Dec 16, 2010, 10:30 ET
End: Thu, Dec 16, 2010, 11:30 ET
Foundations of Fundamental Analysis. Understanding the meaning of price for financial instruments and the classical theory for exchange rate determination.
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Euro and pound leaning on the bullish side, though they need to break their 61.8% lines to confirm trend. Yen in a large range, stuck between two opposing 50%s.
Euro Dollar:
On the daily, between two 50%s. A 50% long at 1.32002 with a target at 1.35481. The line in the sand is at 1.33374. If we break this level the longs are confirmed
Short at 1.33107 with a target at 1.31209 (inside a larger 50% short at 1.33777) acting as resistance.
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Pound:
On daily, bounced off 50% long at 1.5649, and getting close to breaking 61.8% line at 1.58552. Must break this level and previous low at 1.58367 which is acting as resistance to confirm longs.
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Yen (USD/JPY):
Between two 50%s, long at 82.345 with target at 84.592. and 50% short at 84.423, with target at 78.227, which would be an all time low. Must break out to confirm trend.
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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 - Market Fundamentals 1
Expert: Mark Dela Paz
Start: Thu, Dec 16, 2010, 10:30 ET
End: Thu, Dec 16, 2010, 11:30 ET
Foundations of Fundamental Analysis. Understanding the meaning of price for financial instruments and the classical theory for exchange rate determination.
Click here to join free
---
Euro and pound leaning on the bullish side, though they need to break their 61.8% lines to confirm trend. Yen in a large range, stuck between two opposing 50%s.
Euro Dollar:
On the daily, between two 50%s. A 50% long at 1.32002 with a target at 1.35481. The line in the sand is at 1.33374. If we break this level the longs are confirmed
Short at 1.33107 with a target at 1.31209 (inside a larger 50% short at 1.33777) acting as resistance.
---
Pound:
On daily, bounced off 50% long at 1.5649, and getting close to breaking 61.8% line at 1.58552. Must break this level and previous low at 1.58367 which is acting as resistance to confirm longs.
---
Yen (USD/JPY):
Between two 50%s, long at 82.345 with target at 84.592. and 50% short at 84.423, with target at 78.227, which would be an all time low. Must break out to confirm trend.
---
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.
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