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Forexpros Daily Analysis - 07/12/2010
ForexPros Daily Analysis December 07, 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.
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---
Euro and Pound Longs are still holding but half way back shorts acting as resistance. Best to let market confirm which direction it wants to go.
Euro:
On daily, 50% short at 1.33777 acting as resistance.
On 15 min, currently bouncing off long at 1.32479, with target at 1.35276, as a continuation of measured moves long of the past week. Short at 1.33419, acting as resistance, though we are above daily pivot of 1.33229, which may hold market up.
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Pound: Between short of 57891 and long of 1.5649.
On 15 min, bouncing off 50% at 1.56487. Needs to break 1.58536 to confirm long. Daily Pivot at 1.57139.
---
Yen:
On daily, reacting off 50% at 82.345.
---
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.
Forexpros Daily Analysis - 08/12/2010
ForexPros Daily Analysis December 08, 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
---
The EURUSD pair has hit a major support at 1.31948 and has moved back up.
However, from my previous analysis of this pair, it has broken down the major support on the daily chart.
On the 4 hour chart, you can see that the price is unable to create higher high which is a sign of weaknesses in the buyer.
As a whole, I will continue to look for short opportunity for this pair as long as it breaks below the 1.31948 support level.
---
Forex Trading analysis written by Kelvin Lee for Forexpros.
---
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 Daily Analysis - 09/12/2010
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.
---
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.
Forexpros Daily Analysis - 13/12/2010
ForexPros Daily Analysis December 13, 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.
Click here to join free
---
Euro Dollar:
On the daily, the chart is getting messy, but ultimately its showing the euro in a series of shorts, with strong support at the 1.32002, a 50% long. The euro must break through 1.31445 to confirm shorts. The target from the larger short at 1.33777 is 1.27715. The short at 1.33107 has a target of 1.31202. Daily Pivot at 1.32285 can help downward pressure on the euro.
The 15 min chart shows the series of measured moves shorts the euro has been in.
Pound:
On the daily, the pound hit its 61.8% and reacted strongly, which for the pound can be a turning point. This is a an important day to watch the pound for direction. Watch if the pound decidedly breaks through the 61.8% or if it starts showing a reversal pattern. The former low at 1.58366 is acting as resistance. The target of the 50% long the pound is in is 1.59235.
On 15min chart, can see the pound in long measured moves, with a target at 1.59072. The 61.8% line of the larger short is 1.58588.
Yen:
In a long setup, within a range. Yen has front run its 50% at 83.319, with a target at 84.78. Yen must break through previous highs at 84.42 to confirm longs in the short term, though the bigger 50% at 84.592 is providing resistance. Yen must break 85.612 to confirm longer term longs.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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 Daily Analysis - 14/12/2010
ForexPros Daily Analysis December 14, 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.
Click here to join free
---
Fed day. Be very aware.
We are at key levels, let the volatility of the Fed allow the markets to decide what direction they want to go. Looking long but I hate to say before we break key levels. The S&P500 has broken the line in the sand for the bearish market, so in theory we can call a bull market. I just don't trust Fed days.
Euro Dollar( EUR/USD ):
Hit resistance of previous highs at 1.34365. Holding at top of range.
On 15 min, currently holding extension long, with 50% at 1.33776, target at 1.34586.
Pound (GBP/USD):
On the daily, the pound hit its 50% short at 1.58919. Previous high at 1.58383, which was acting as resistance, now acting as support. Holding long setups and gradually inching higher.
On 15 min chart, holding extension long at 1.5832, with target at 1.5927
Yen (USD/JPY):
Still in a range. Bouncing between 50% long at 82.345 and larger 50% short at 84.592.
Half way back between the range at 83.319 acting as resistance.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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 Daily Analysis - 20/12/2010
ForexPros Daily Analysis December 20, 2010
Today: Free webinar on ForexPros - Using Fibonacci ratios to manage your trades efficiently
Expert: EcPulse
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 Dollar:
Friday's action seems to confirm the short at 1.33777, with a target of 1.27715. I would like to see a close below 1.31445 to confirm the short.
On 15 min chart in next measured move short, an extension with 50% at 1.31873, with target at 1.31084. If it breaks 1.32009, we can go full half way back short at 1.33136.
Pound:
Pound short is in full swing. On Friday, pound broke previous lows at 1.55039, but closed above it. Target for 50% short at 1.58919 is at 1.52892. Pound currently in next measured move short.
On 15 min chart, Pound reacting to next 50% short at 1.55452 (with daily pivot at 1.55439) and target at 1.54374. If we break the measured move (1.55674) pound could go full half way back at 1.56793.
Yen:
Still stuck in its wide range between 50% long of 82.345 and 50% short of 84.592. Currently bouncing off 50% long at 83.667 (within the range), with a target of 84.78.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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 Daily Analysis - 22/12/2010
ForexPros Daily Analysis December 22, 2010
Today: Free webinar on ForexPros - Forex for Beginners
Expert: Karen Kizer
Start: Mon, Jan 3, 2011, 10:00 ET
End: Mon, Jan 3, 2011, 11:00 ET
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market.
The webinar will cover:
- forex basics
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---
Euro Dollar:
On the daily, the euro has found support at full half way back at 1.30742, but is still technically in a short setup, with a target at 1.27715. On the daily, the daily 2 day half way back is at 1.3137, and the euro is still respecting this setup.
On the 15 min chart, the two-day halfway back is at 1.31368. The line in the sand for bullish or bearish is at 1.3152. The next 50% resistance level is at 1.32153 from Friday's highs to today's lowest.
Pound:
The pound has been leading the charge on the shorts and is marching towards its target at 1.52892.
On the 15 min chart, pound is currently being held down by the daily pivot at 1.549. Full half way back since Tuesday's highs is at 1.54995 and line in the sand is at 1.5515.
Yen:
Still in a range on the daily between 50% long at 82.345 and 50% short at 84.592. The 50% half way back of last move in the range at 83.667 still holding yen, but it is trending lower. Next major support at full half way back of range at 83.319, though half way backs cannot be trusted in a range.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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 Daily Analysis - 27/12/2010
ForexPros Daily Analysis December 27, 2010
Today: Free webinar on ForexPros - Forex for Beginners
Expert: Karen Kizer
Start: Mon, Jan 3, 2011, 10:00 ET
End: Mon, Jan 3, 2011, 11:00 ET
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market.
Click here to join free
---
I will be posting this week but will be looking at the market in broader terms since light volume tends to make trading setups more volatile in shorter timeframes.
Euro Dollar:
On the daily, currently in a narrow range between 50% short at 1.31361, and full half way back for the year 50% long at 1.30738. Technically, the euro is still in a short from its short at 1.33777, with a target at 1.27715.
Pound:
On the daily, the pound is marching towards its target of 1.52892, from its 50% short of 1.58919. the 15min chart, the pound is still in measure moves short. It reacted off a 50% short at 1.54611, with a target of 1.53055. It is currently below its daily pivot 1.54436.
Yen ( USD/JPY):
On the daily, the yen is still oscillating within its range, between 50% long of 82.345 (target of 85.404) and short of 84.592 (target of 78.227, breaking all time lows). Must break either of these 50% to re-establish trend it will follow.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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 Daily Analysis - 29/12/2010
ForexPros Daily Analysis December 29, 2010
Today: Free webinar on ForexPros - Forex for Beginners
Expert: Karen Kizer
Start: Mon, Jan 3, 2011, 10:00 ET
End: Mon, Jan 3, 2011, 11:00 ET
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market.
Click here to join free
---
I remembered the other reason why to refrain to trade during the holiday. Trading is as slow as the molasses you put in your holiday desserts and can lead to impatience and silly trades. So stay smart and only trade larger timeframes.
Euro Dollar:
On the daily, the euro reacted to its next daily 50% short at 1.32769, with a target at 1.29514, and found support at the full half way back for the past 6 months long at 1.30742, with a target at 1.4838.
Pound:
On the daily, the pound reacted to its daily short at 1.55023, with a target at 1.52888, which coincides with its larger target from the bigger short at 1.58919.
The 50% full half way back long since May is at 1.52622 and may prove to be strong resistance. This is where the euro is at currently and is stalling the euro short trend.
Yen (USD/JPY):
Yen is moving south and may have broken its range and is proving the short at 84.345, with a target at 78.227, which would be an all time low.
Currently its meeting resistance at the 61.8% line at 81.855, which coincides with previous highs.
Next major resistance is previous lows at 80.234.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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 Daily Analysis - 03/01/2011
ForexPros Daily Analysis January 03, 2011
Today: Free webinar on ForexPros - Strategy Rules for Short Term Forex Trading
Expert: Sam Seiden
Start: Thu, Jan 6, 2011, 10:00 ET
End: Thu, Jan 6, 2011, 11:00 ET
During this session, we will cover a simple set of rules that anyone can use for short and long term trading in the Forex market. After we go over these rules, we will go into the live market and apply them.
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---
The euro and pound suspiciously look to have fallen into the holiday reversal trap, where prices are pushed against the trend in lower volumes to allow for better entries into the wider trend. As such, both the euro and the pound tapped their greater 50% shorts and are currently reacting to them and dropping nicely.
Euro Dollar:
The euro looks to have created a range between its full half way back from June at 1.30742 and its 50% short at 1.33777 (1.343 acting as strong resistance.) The greater trend is still short, with 1.347 being the line in the sand.
Pound:
The pound continues in its orderly measured moves short and has reacted off its next short at 1.56273, with a target at 1.52104. Next major support is at the half way back from May at 1.52622.
Yen ( USD/JPY):
On the daily, still in extension short from 84.592 and has been moving steadily towards its target of 78.227, which would be an all time low. Next major level of support is previous low of 80.234.
---
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.