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Forexpros.com Daily Analysis - 06/07/2009
Free, Live Forex Webinar This Week!
Live Trading of FX Markets
Hosted by: Markus Heitkoetter of Rockwell Trading
Date: Thurs, Jul 9, 2009, 16:00 GMT
In this webinar, Markus Heitkoetter will demonstrate a simple yet powerful trading strategy for FX markets. This strategy uses two simple indicators that are available in almost any charting software. Markus doesn't believe in "magic" indicators. He will show you exactly how to set up your charting software that YOU can use this strategy in your own trading. During this presentation Markus will analyze live charts and will take a live trading position if the set up arrives during the event.
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EUR/USD Heading Higher?
Bias for today is higher, but a narrowing range after the steep decline near the end of last week could mean a break in either direction.
A push above 1.3990 would be the first indication of a rise, with 1.4020 acting as resistance but 1.4080 a reasonable target beyond. Resistance is also likely in the 1.4050 area.
A drop below 1.3950 would indicate some weakness and overall indicates a move to 1.3840, but there is strong support at certain levels so a move to that level is not highly likely.
Support levels are 1.3940-1.3930, 1.3900-1.3890 and 1.3880-1.3870
USD/JPY Drop and Rise
The pair is falling in early trading this week, but is likely to encounter support by 95.30. If that fails, 95.00 is the support level beyond.
Once getting into this support area, a bounce is likely. A continued fall would be quite bearish.
Upside resistance from where the pair currently trades is 95.70, 95.90, 96.10 and 96.30.
Analysis by:http://www.forexpros.com- Written by Cory Mitchell
Disclaimers:
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.
Forexpros.com Daily Analysis - 07/07/2009
Free, Live Forex Webinar This Week!
Live Trading of FX Markets
Hosted by Markus Heitkoetter of Rockwell Trading
Thursday, July 9, 2009, 16:00 GMT
In this webinar, Markus Heitkoetter will demonstrate a simple yet powerful trading strategy for FX markets. This strategy uses two simple indicators that are available in almost any charting software. Markus doesn't believe in "magic" indicators. He will show you exactly how to set up your charting software that YOU can use this strategy in your own trading. During this presentation Markus will analyze live charts and will take a live trading position if the set up arrives during the event.
Click HERE to register and watch for free!
---
EUR/USDfor July 7
Push above 1.3990 would be an early signal of bullishness. A move above 1.4000 would confirm. Resistance is at 1.4020, 1.4040 and 1.4100
A drop below 1.3940 indicates weakness and a test of the recent lows near 1.3880 would come into play. Support is also just above this at 1.3900.
USD/JPYBias Up
Strong finish yesterday put the pair in a bullish spot, yet it still has to climb above a resistance area around 95.40. If it can, resistance is beyond at 95.60, 95.80 and 96.10.
Failure to really push above 95.40 will likely encounter some minor support at 95.10, 94.90 and 94.70 as the pair pulls back. A drop below that level is unlikely but support beyond is 94.45.
Analysis by:http://www.ForexPros.com- Written by Cory Mitchell
Disclaimers:
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.
Forexpros.com Daily Analysis - 08/07/2009
Free, Live Forex Webinar Tomorrow!
Live Trading of FX Markets
Hosted by: Markus Heitkoetter of Rockwell Trading
Date: Thurs, Jul 9, 2009, 16:00 GMT
In this webinar, Markus Heitkoetter will demonstrate a simple yet powerful trading strategy for FX markets. This strategy uses two simple indicators that are available in almost any charting software. Markus doesn't believe in "magic" indicators. He will show you exactly how to set up your charting software that YOU can use this strategy in your own trading. During this presentation Markus will analyze live charts and will take a live trading position if the set up arrives during the event.
Click HERE to register and watch for free!
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EUR/USDRecent Lows Hold
The pair once again tested the support area in early trading today after choppy trading yesterday.
The lows have been tested and appear to have succeeded in holding, which means the bias is upwards for today.
The support range is between 1.3880-1.3870. A drop below will likely test 1.3830 and 1.3800. A break below 1.3800 will likely test mid-June lows at 1.3750.
Resistance is at 1.3950, 1.3980-1.3990, and yesterdays high at 1.4050.
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USD/JPY Heading Towards Support
In yesterdays post I wrote that the pair had to push above 95.40 resistance in order to set up for a bullish move. It did not, and that has resulted in over a 100 pip dive so far.
Major support is a little ways away still at 93.80, which was a late May low. Support beyond that is at 93.50 and is expected to hold through the session if the pair continues to fall.
A bounce is likely off these support levels.
Resistance currently is at 94.50, 94.70 and 95.00. A move beyond 95.40 is unexpected today but would be favorable for a rise over the next few days.
Analysis by:http://www.forexpros.com- Written by Cory Mitchell
Disclaimers:
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.
Forexpros.com Daily Analysis - 09/07/2009
Free, Live Forex Webinar Today!
Live Trading of FX Markets
Hosted by: Markus Heitkoetter of Rockwell Trading
Date: Thurs, Jul 9, 2009, 16:00 GMT
In this webinar, Markus Heitkoetter will demonstrate a simple yet powerful trading strategy for FX markets. This strategy uses two simple indicators that are available in almost any charting software. Markus doesn't believe in "magic" indicators. He will show you exactly how to set up your charting software that YOU can use this strategy in your own trading. During this presentation Markus will analyze live charts and will take a live trading position if the set up arrives during the event.
Click HERE to register and watch for free!
---
EUR/USD We are currently seeing continued choppy trading around the lower part of this long term range.
Support is at 1.3890-1.3880, 1.3850 and 1.3830. A break below 1.3830 would signal a move to 1.3750 with support at 1.3800.
Resistance is at 1.3910 and 1.3940. A break above would target 1.4040 with minor resistance at 1.3980.
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USD/JPY Yesterdays collapse blew through strong support levels and surprised many traders. The break below 94.00 signifies a longer term downward move, but a successful retest of the 94.00 is needed.
Therefore upside resistance is now at 93.50 and 94.00. If 94.00 can hold by the end of today's sessions it is quite likely the pair will continue to head lower over of the next week or so.
Minor support is likely in the 92.90 area, followed by 92.40 and 91.80. News out of the US could make for another volatile day.
Analysis by: Forexpros.com - Written by Cory Mitchell
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.
Forexpros.com Daily Analysis - 15/07/2009
Forexpros.com Daily Analysis - July 15th, 2009
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Date: Thu, Jul 16, 2009, 15:00 GMT
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EUR/USD The pair continued it's doldrums yesterday moving in a choppy fashion once again. Being in the middle of the range this is likely to continue.
Minor support is at 1.3960, 1.3930, 1.3910 and beyond this 1.3875. Volatility has decreased, but 1.3850 and 1.3825 could come into play with news out of the US today.
A push above 1.4020 would be needed to indicate a move to the former swing high at 1.4070. 1.4100 should provide resistance beyond, as well at 1.4150.
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USD/JPY The pair is still meddling below the 94 resistance area. A closer test of this area is likely, but the overall bias is still down.
Although, a push above 94.00 would indicate move to 94.40. Further resistance is at 94.60 and 94.80.
After a test of 94, or the pair can not climb higher, a downward break below 93.30 would indicate a move back down. Initial target is 93 and beyond this 92.60. 92.20 is likely to provide support further down.
Analysis by: Forexpros.com - Written by Cory Mitchell
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.
Forexpros.com Daily Analysis - 16/07/2009
Forexpros.com Daily Analysis - July 16th, 2009
Free, Live Forex Webinar next Tuesday!
Watch How the Pros Trade!
Hosted by: Richard Regan of Pro Trading Europe
Date: Thu, Jul 21, 2009, 18:00 GMT
Pro trading offers a one-off, train-and-trade our capital solution. Head pro Richard Regan will discuss his trades of the day, why he got into them, why he got out, what trades he avoided and missed, and why. There will also be a 15-minute interaction session to ask Richard anything you want!
Click HERE to register and watch for free!
NOTICE: This webinar was originally scheduled for today (jul 16) but has been postponed to Tuesday.
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EUR/USD The pair did push above some resistance within the longer term range yesterday which indicates a push towards 1.4200 is likely.
Support is at 1.4040 and 1.400. A bounce is likely off these levels, but there is further support at 1.3950 and 1.3900.
Resistance is likely in the 1.4160 area and beyond that 1.4200. 1.4250 should hold, if needed through today's sessions.
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USD/JPY 94.40 was yesterday's target, and the pair hit it and has retreated. This is an important level. A move back below 93.50 would indicate the move was a bull trap and that the pair is likely to head back lower.
IF the pair does drop to 93.50 or below, 94 should hold as resistance on bounces. Further resistance is at 94.40. 94.80 should also act as a stall to rises if in fact the pair does turn higher.
Support is 93.60 and 93.20. A break blow is likely to test former swing lows in the 92.80 region.
Analysis by: Forexpros.com - Written by Cory Mitchell
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.
Forexpros.com Daily Analysis - 20/07/2009
Forexpros.com Daily Analysis - July 20th, 2009
Free, Live Forex Webinars Tomorrow and Thursday!
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Hosted by: Richard Regan of Pro Trading Europe
Date: Thu, Jul 21, 2009, 18:00 GMT
Pro trading offers a one-off, train-and-trade our capital solution. Head pro Richard Regan will discuss his trades of the day, why he got into them, why he got out, what trades he avoided and missed, and why. There will also be a 15-minute interaction session to ask Richard anything you want!
Click HERE to register and watch for free!
NOTICE: This webinar was originally scheduled for today (jul 16) but has been postponed to Tuesday.
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EUR/USD The pair pushed above 1.4160 to 1.4180 but has retreated for the time being. A rise above 1.4180 would target 1.4200 a major resistance level.
A break of that resistance level would target May highs at 1.4340 (not necessarily today). Intermittent resistance is likely at 1.4230 and 1.4270.
Support lies at 1.4150-1.4140. 1.4100, 1.4060 and 1.4030 provide support beyond.
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USD/JPY The pair has broken above the 94.50 resistance area and is currently at a another resistance level, 94.65. A continued push above 94.75 would indicate strength and likely another swing higher.
95.00 should offer some resistance, followed by 95.50.
Support is likely by 94.15, then 93.80 and 93.50.
Analysis by: Forexpros.com - Written by Cory Mitchell
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.
Forexpros.com Daily Analysis - 21/07/2009
Forexpros.com Daily Analysis - July 21th, 2009
Free, Live Forex Webinar Today and Thursday!
Watch How the Pros Trade!
Hosted by: Richard Regan of Pro Trading Europe
Date: Thu, Jul 21, 2009, 18:00 GMT
Pro trading offers a one-off, train-and-trade our capital solution. Head pro Richard Regan will discuss his trades of the day, why he got into them, why he got out, what trades he avoided and missed, and why. There will also be a 15-minute interaction session to ask Richard anything you want!
Click HERE to register and watch for free!
NOTICE: This webinar was originally scheduled for today (jul 16) but has been postponed to Tuesday.
---
EUR/USD The pair managed to break above 1.4200 yesterday. This sets up for a likely test of the May high at 1.4340 (not necessarily today).
1.4240-1.4250 is a resistance area as well as 1.4270.
Support is at 1.4180, followed by 1.4140. If indeed we are moving higher, 1.4140 should hold on retracements. Further support is at 1.4100 and 1.4060.
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USD/JPY The pair has retreated back into the middle of a range which has developed over the last week.
Minor support is at 93.75 followed by 93.50. A drop below this would shift the bias downwards. 93.20 is the support level beyond.
Minor resistance is likely at 94.20. 94.60 and 94.80 are more significant.
Analysis by: Forexpros.com- Written by Cory Mitchell
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.
Forexpros.com Daily Analysis - 22/07/2009
Forexpros.com Daily Analysis - July 22th, 2009
Free, Live Forex Webinar Today and Thursday!
Live-Market Analysis and Trading Decisions
Hosted by: Dr.Sankaran Sivaraman
Date: Thu, Jul 23, 2009, 16:00 GMT
Dr. Sankaran Sivaraman will be discussing market timings, how to read the players' intentions, live-trading decisions in major currency pairs, and basic trading strategy.
Click HERE to register and watch for free!
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EUR/USD Uptrend Remains:
After chopping trading yesterday the pair is still holding above some important support levels which indicates the pair is likely to continue higher.
Support is at 1.4160, 1.4140 and beyond that 1.4100. A break below 1.4100 is unlikely and would shift short-term bias downwards, but further support is at 1.4060.
Targets on the upside are yesterday's high at 1.4280 and beyond that 1.4330-1.4350.
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USD/JPY A sharp fall mid day yesterday tested the 93.25 support level, with the rate bouncing since.
This has resulted in the short-term bias being down, with a test of the 92.75 level likely. A rise above 93.90 would negate that and indicate a rise to test 94.40-94.50.
Analysis by: Forexpros.com - Written by Cory Mitchell
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.
Forexpros.com Daily Analysis - 23/07/2009
Forexpros.com Daily Analysis - July 22, 2009
Free, Live Forex Webinar Today!
Live-Market Analysis and Trading Decisions
Hosted by: Dr.Sankaran Sivaraman
Date: Thu, Jul 23, 2009, 16:00 GMT
Dr. Sankaran Sivaraman will be discussing market timings, how to read the players' intentions, live-trading decisions in major currency pairs, and basic trading strategy.
Click HERE to register and watch for free!
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EUR/USD
The pair continues to range (so far) within in a 120 pip range over the last couple of days. A breakout will eventually occur, with the bias being higher overall.
Resistance is at 1.4260 with a break to test 1.4280. A push above 1.4300 would confirm a breakout with the target being 1.4400. Intermittent resistance is at 1.4350.
Support is at 1.4200, 1.4180 and 1.4155. A break below this level is less likely than a break higher, but it could still happen. Further support is at 1.4140 and 1.4100.
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USD/JPY
The pair jumped in early trading, and is trying to test the 94.40 level. This is an important intra-day level.
A rise above 94.50 indicates a move to test a former swing high at 94.80. A rise beyond is not highly likely today, but 95.00 is the resistance beyond.
Support is at 93.80, 93.40 and 93.20.
Analysis by: Forexpros.com - Written by Cory Mitchell
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.