ForexPros Daily Analysis January 12, 2011
Tomorrow: Free webinar on ForexPros - 2011 Forecast
Expert: Nour Eldeen M. Al-Hammoury
Start: Thu, Jan 13, 2011, 09:00 ET
End: Thu, Jan 13, 2011, 10:00 ET
In this webinar, we will review the 2010 global economy and the markets, and will put in our forecast for the markets and the global economy for 2011. We will also speak about US Dollar against majors and will also put in our forecast for Commodities and Emerging Markets.
Click here to join free
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Euro Dollar:
On the daily, the euro bounced off a support line from April 2009. The euro is between a long at 1.30742, with a target at 1.4838 and a 50% short at 1.33777, with a target 1.27715.
The euro has moved towards it short target but has found resistance at 1.287-1.292 which has acted as support and resistance many times in the past 2 years.
Pound:
On the daily, on the larger timeframe still in a short from 1.56273, with a target of 1.52104. The pound is testing the setup for the third time.
In the short term, the pound is in long setups and in the past week has bounced off its 50% long for the week at 1.55222, with a target at 1.56938, which coincides with the 61.8% line of the short the pound is currently in.
Yen:
On the daily in a traditional long at 82.649, with a target of 84.187, inside a greater short at 84.592 with a target at 78.227.
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Forex Trading analysis written by Diana Rochford for Forexpros.
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Get the latest Forex News from the currency market!
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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.
Tomorrow: Free webinar on ForexPros - 2011 Forecast
Expert: Nour Eldeen M. Al-Hammoury
Start: Thu, Jan 13, 2011, 09:00 ET
End: Thu, Jan 13, 2011, 10:00 ET
In this webinar, we will review the 2010 global economy and the markets, and will put in our forecast for the markets and the global economy for 2011. We will also speak about US Dollar against majors and will also put in our forecast for Commodities and Emerging Markets.
Click here to join free
---
Euro Dollar:
On the daily, the euro bounced off a support line from April 2009. The euro is between a long at 1.30742, with a target at 1.4838 and a 50% short at 1.33777, with a target 1.27715.
The euro has moved towards it short target but has found resistance at 1.287-1.292 which has acted as support and resistance many times in the past 2 years.
Pound:
On the daily, on the larger timeframe still in a short from 1.56273, with a target of 1.52104. The pound is testing the setup for the third time.
In the short term, the pound is in long setups and in the past week has bounced off its 50% long for the week at 1.55222, with a target at 1.56938, which coincides with the 61.8% line of the short the pound is currently in.
Yen:
On the daily in a traditional long at 82.649, with a target of 84.187, inside a greater short at 84.592 with a target at 78.227.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
Get the latest Forex News from the currency market!
---
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.